Tolko Industries is partnering with Pinnacle Renewable Energy on a $53 million wood pellet plant in High Level. The project will be powered by Tolko’s $33 million thermal energy plant, which is already under construction.
When complete, the pellet plant will employ about 25 direct full-time workers and will use advanced technology to produce pellets for the North American market.
“Our bold economic initiatives, like the job creation tax cut, commitment to red tape reduction, and the removal of the carbon tax will attract new investments and jobs in Alberta.”
The Job Creation Tax Cut (Alberta Corporate Tax Amendment) Act, which received royal assent June 28, will reduce the provincial tax rate on employers by one-third, from 12 per cent to eight per cent, by 2022.
The Alberta government is focused on ensuring a strong investment climate for new job opportunities for Albertans.
Alberta’s forestry companies and workers are world leaders in sustainable forestry practices and in managing Alberta’s land base for future generations.
Forestry is the province’s third largest resource sector after oil and gas, providing direct jobs for 16,000 Albertans and indirect jobs for 23,000.