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“Today Dow announced what could become the largest investment in the Alberta economy in more than a decade. This is a huge win for job creation, economic growth and Alberta’s Economic Recovery Plan. If this project receives regulatory approval and a positive final investment decision, it will lead to a multibillion-dollar investment in our economy and huge job opportunities in both the construction and operating phases.
“Dow is a major global company with operations in dozens of countries around the world. Dow’s decision to build the world’s first net-zero carbon emissions ethylene complex in Alberta is proof that our open for business policies have made us one of the most competitive places on Earth for this kind of major investment in cutting-edge technology. After years of declining investment in our province, we can now say that the Alberta advantage is back.
“Our government has worked very closely with Dow since the spring of 2019 to land this huge project. In my first meeting with Dow executives, they made it clear that Alberta’s Job Creation Tax Cut – a one-third reduction in taxes on employers – was a significant step in making our province cost competitive with other jurisdictions in attracting this kind of massive investment. Policies like the Red Tape Reduction Strategy, the Petrochemical Incentive Program, the Skills for Jobs Strategy, the Natural Gas Strategy, flexibility for municipalities to offer property tax incentives, pre-approved regulatory zones, and investments in carbon capture and storage infrastructure have all helped to make Alberta a magnet for this kind of investment.
“Today’s announcement is good news both for our traditional energy sector and for diversification. Major petrochemical projects like this create long-term additional demand for Alberta natural gas, which in turn will create jobs in the exploration and service sectors. At the same time, this expanded polyethylene and ethylene derivative plant will further diversify our economy and increase global exports. And with Dow’s commitment to net-zero production, this project will highlight Alberta’s growing reputation as a hub for low emissions industrial technology.
“This is a big step forward in achieving the ambitious goals of Alberta’s Natural Gas Strategy – to grow Alberta’s petrochemical sector by more than $30 billion by 2030, resulting in more than 90,000 direct and indirect jobs over the construction and operation periods of new facilities and more than $10 billion in revenue for the Government of Alberta from corporate and personal income taxes.
“I would like to thank Ministers Sonya Savage, Dale Nally and Jason Nixon for working closely with my office and with Dow to solve problems and move this project forward. Invest Alberta has also played a key role, as have local partners like the Industrial Heartland Association.
“Most importantly, I would like to thank Dow for having confidence in Alberta. In particular, thank you to Dow chairman and CEO Jim Fitterling, president of Dow Feedstocks and Energy Jack Broodo, and Dow Canada president Tyler Edgington for being great partners. The Government of Alberta looks forward to working with them to continue moving this exciting project forward.”