Selling Alberta to the world: An Investment and Growth Strategy complements and builds on Alberta’s Recovery Plan to put us back on course for long-term financial sustainability after the devastating effects of the COVID-19 pandemic and crash in oil prices.
Investment attraction is essential – investments into Alberta’s many industries help drive our economy by:
- creating stability
- supporting existing jobs and creating new ones
- expanding business opportunities
- accelerating innovation
- increasing our exports globally
Actions and outcomes in this strategy will create the right conditions to encourage investors to choose Alberta.
Outcomes and key initiatives
The investment and growth strategy identifies 3 core outcomes, each with key initiatives that contribute to meeting those outcomes.
Outcome 1: Increase Alberta’s competitive advantage
While Alberta remains an extremely competitive and attractive investment destination, there are growth opportunities across multiple industries.
Our strategy supports these growth opportunities and maintains the tax and regulatory conditions to help businesses thrive.
- Target critical sectors for investment growth and retention.
- Create the conditions for innovation to transform Alberta’s economy in the future.
- Establish evidence-based methodologies to measure success.
Outcome 2: Improve Alberta’s investment attraction ecosystem
Alberta’s current investment attraction ecosystem is fragmented. It struggles to function in a reliable, coordinated and strategic way. There are multiple groups involved at different levels of government that each have their own ways of engaging global investors.
A unifying investment attraction strategy would focus province-wide investment attraction activities and collaboration across governments, industries and business organizations.
- Re-align government’s investment attraction capacity to provide customized services.
- Re-align government’s international office network to bolster investment attraction in key markets.
- Invest in tools and technologies that drive investment decisions and opportunity identification.
- Strengthen relationships with investment attraction agencies, governments and others to leverage opportunities, shared priorities and investment readiness.
Outcome 3: Raise Alberta’s reputation as an investment destination
Most investors know about Alberta’s energy sector, and we will continue making a strong case for new investment in this core industry.
However, investors are less familiar with Alberta as a hub for artificial intelligence, a food producer with market access to major global economies, or a place with low taxes, low cost commercial real estate and a highly educated and talented workforce.
Raising awareness of Alberta’s diverse investment opportunities will benefit businesses and the Albertans they serve.
- Market Alberta as a key investment destination.
- Leverage existing and new investment attraction and trade events to promote Alberta’s unique value-proposition.
- Increase proactive identification of new investors, clients and businesses.
We will work with governments and industries to carry out actions in this strategy.
The Invest Alberta Corporation and its international office network will support promising investors in key growth sectors.
We are finalizing strategies for key economic sectors, recognizing that input from Alberta entrepreneurs will be important as we move forward.