To support jobs across all sectors and build a more diversified, more resilient economy, we're working on strategies for sectors where Alberta has a competitive advantage, and sectors that have the most potential for growth.

Petrochemicals Diversification Program (PDP)

We're committed to working with partners to create new jobs and diversification in the energy industry. The aim is to increase the value of our energy industry, process and add value to Alberta’s resources, and diversify the energy industry into new end products.

The Petrochemicals Diversification Program was created to encourage companies to invest in the development of new Alberta petrochemical facilities by providing up to $500 million in incentives through royalty credits.

The benefits of this program are significant to Alberta workers and their families: up to $6 billion worth of investment attracted to Alberta, up to 4,200 new jobs during construction of new petrochemical facilities, and more than 240 full-time jobs once operation begins.

Alberta Investor Tax Credit (AITC)

The Alberta Investor Tax Credit (AITC) supports local small businesses to create jobs and diversify the provincial economy. The AITC is a 3-year program that offers a 30% tax credit to investors who provide capital to Alberta small businesses doing research, development or commercialization of new technology, new products or new processes. It is also applicable to businesses engaged in interactive digital media development, video post-production, digital animation or tourism.

The AITC is retroactive. Investors who have made investments since the program was announced on April 14, 2016, will be able to apply for the tax credit if they meet the eligibility requirements. The registration process for the tax credit opens on January 16, 2017.

The AITC will support up to 4,400 new jobs over 3 years and contribute up to $500 million to Alberta's GDP.

News: Tax credits to launch in the New Year (Dec 15, 2017)

Capital Investment Tax Credit (CITC)

The Capital Investment Tax Credit (CITC) encourages companies to make timely capital investments by returning a percentage of the company’s costs, including the purchase of machinery, equipment and buildings. The 2-year program provides a 10% non-refundable tax credit of up to $5 million.

The CITC will support approximately $700 million worth of investment and up to 4,600 direct and indirect jobs in Alberta.

News: Tax credits to launch in the New Year (Dec 15, 2017)

Renewable Energy Target

Alberta has set a firm target to ensure 30% of electricity used in the province will come from renewable sources such as wind, hydro and solar by 2030. To help achieve this, we're supporting 5,000 megawatts of additional renewable energy capacity by soliciting investment through the Renewable Electricity Program. The program will support new or expanded Alberta-based renewable projects that are 5 megawatts or greater in size.

It's estimated that at least $10.5 billion in new investment will come into the provincial economy by 2030, creating 7,200 new jobs for Albertans as projects are built.

Alberta Enterprise Corporation (AEC)

As technology-based businesses look to start-up and expand in Alberta, they'll need access to capital, support and expertise to get their ideas and products to market.

The Alberta Jobs Plan allocated $75 million over 2 years to Alberta Enterprise Corporation (AEC) to invest in projects that have a track record of success, strong global networks and a demonstrated commitment to the province. For every dollar AEC invests in venture capital funds, $4 is invested back into Alberta companies.

Since 2011, AEC has invested more than $317 million in 30 Alberta technology companies, creating 1,100 direct jobs and 1,430 indirect jobs. Of these jobs, approximately 805 were created between March 2015 and March 2016.

Agriculture and agri-food processing

The agriculture sector employs more than 86,000 people and generates exports of more than $9 billion annually. There is tremendous potential for the agriculture sector to expand into the global marketplace, and to grow the agri-food processing industry through innovative new processes or creating of new materials.

Alberta’s food and beverage processing industries represent the province’s second largest manufacturing sector, employing 26,000 people with annual sales of more than $14.6 billion.

The expanded Agrivalue Processing Business Incubator and Food Processing Development Centre in Leduc is the largest of its kind in North America. Since 2011, the food processing facility has supported 10 new companies that have generated $60 million in investment in Alberta and created more than 500 direct and indirect jobs. The staff of food scientists, engineers and technologists provide entrepreneurs with access to the expertise and resources they need to develop their product ideas and bring their production process to a commercial scale.

Cultural industries

Alberta's cultural industries create jobs, attract talent and investment, secure export markets and build creative capital that affects every sector of the economy.

In 2015, Alberta's cultural industries, including film, television and publishing industries, employed more than 5,600 people and contributed $584 million to the province's GDP.

The Alberta Foundation of the Arts funds, encourages and supports the development of arts in Alberta, while maintaining and expanding the AFA art collection as a resource for all Albertans.

The Alberta Media Fund provides support to organizations and individuals involved in cultural industries, which including screen-based media production, book and magazine publishing and sound recordings. Between 2015 and 2016, 90 film and television productions spent more than $157 million in Alberta.

Tourism

Tourism is one of the leading industries in the province. The tourism industry:

  • employs more than 127,000 Albertans
  • generates more than $2.9 billion in GDP
  • contributes $1.67 billion in provincial and local tax revenues

We're committed to growing the industry and maximizing the opportunities tourism creates in every region of the province.

The Tourism Entrepreneurship Program provides tools and services to help entrepreneurs start new tourism businesses and help existing tourism entrepreneurs to innovate, expand or refresh their operations.

Community and Regional Economic Support (CARES)

To help communities with limited resources and common interests tackle larger projects than they might be able to on their own. We're providing $30 million over 2 years for the Community and Regional Economic Support (CARES) program, which helps regions and communities attract investment and improve local business environments.

Grant funding distributed through the CARES program encourages collaboration between communities and supports municipalities and organizations in undertaking joint economic development projects. Approximately 600 entities in Alberta are eligible to apply for CARES funding.