Posted by

Doug Schweitzer

Date

September 17, 2020

Topic

Alberta's Recovery Plan

As we move forward with Alberta’s recovery, the Ministry of Jobs, Economy and Innovation will play a leading role in helping to create jobs, promote trade, and rebuild investor confidence. The ministry will lead the implementation of Alberta’s Recovery Plan, a bold, ambitious long-term plan to build, diversify and create tens of thousands of new jobs. As part of this plan, sector strategies will be developed to increase Alberta’s competitive advantage and grow the economy.

As the province recovers from the triple threat of the COVID-19 pandemic, a worldwide economic downturn and the fall of global oil prices, it is more important than ever to ensure investors know that Alberta is the best place to invest.

The ministry will continue to build on Alberta's strengths in energy, agriculture and tourism, while diversifying the economy by growing emerging sectors like technology, financial services, pharmaceuticals, aviation, aerospace and logistics.

The ministry’s work focuses on achieving 5 main priority areas.

Driving job creation and innovation to support economic growth

Alberta’s government is removing policy and regulatory barriers that hinder economic growth so that the province returns to a free enterprise economy.

We are also working to ensure job creators have the supports to grow and thrive – this includes enhancing access to financial supports and capital.

Attracting, retaining and expanding investment and growing trade in key markets and critical sectors

To grow the province’s economy now and in the long term, we are working to attract increased direct investment into Alberta, and are pursuing trade opportunities in key markets around the world.

We are improving the investment attraction ecosystem by reducing corporate tax rates – now at 8% – removing red tape and creating the freest economy in North America.

With the help of the newly created Invest Alberta Corporation, we will boost Alberta’s reputation as an investment destination with aggressive, proactive pursuit of high-value investment, reminding investors that Alberta is the best place in the world to invest.

Incentivizing investment in innovation, which will support economic growth across all sectors

We will increase access to innovation funding and supports through recapitalization of the Alberta Enterprise Corporation and continued support of Alberta Innovates.

We are also supporting and accelerating research, innovation and entrepreneurship to help grow globally competitive enterprises. This complements the work being done at Alberta Advanced Education and at post-secondary institutions across the province.

We are also supporting efforts to commercialize world-class Alberta research to create cutting-edge jobs in the province.

Growing tourism in all areas of Alberta while diversifying tourism offerings

COVID-19 is severely impacting the tourism industry worldwide. Alberta’s government is working with Travel Alberta on a 10-Year Tourism Strategy so there is a solid plan in place to rebuild Alberta’s tourism industry, while laying the groundwork for long-term growth.

By cutting red tape and creating a competitive and attractive tourism business environment, Alberta’s government is helping the sector grow to new regions and expand in existing areas.

Alberta’s government will diversify the province’s tourism sector, creating new, expanded and refreshed tourism products in all corners of the province – not just in the mountain parks.

Cutting red tape for investors to help attract investment and jumpstart job creation

Alberta’s government is cutting red tape by one-third to reduce costs, speed up approvals, and make life better for all Albertans – especially for job creators.

It will be easier for people to get the government services they need and the reduced regulatory burden on job creators will encourage investment, boost Alberta’s competitiveness, and get more Albertans back to work.

Removing needless red tape – such as duplicate processes and rules that do not add protections – will save time, money and resources, while still protecting the environment, upholding fiscal accountability and ensuring the health and safety of Albertans.

Looking ahead

While we recognize that Alberta is facing unprecedented economic challenges, Alberta’s government remains steadfast in our commitment to achieving our goals of economic diversification, job creation and financial well-being. Our Recovery Plan to build, diversify and create jobs together will help restore our province and put us back on a path for a generation of growth.

  • Doug Schweitzer

    Minister Doug Schweitzer

    Doug Schweitzer was appointed Minister of Jobs, Economy and Innovation on August 25, 2020.

    Learn more