With a focus on diversifying and maximizing growth opportunities in new and emerging industries, the province has reached the investment milestone one year earlier than expected. The job creation target was met, and surpassed, two years in advance.
“Agriculture is foundational to where we are today and its future remains bright in Alberta. That’s why Alberta’s Recovery Plan is focused on building on our strengths, in sectors like agriculture, to find new ways to grow them, and create new opportunities.”
“Alberta has the fundamentals to create a robust agri-food industry that helps diversify our economy and create new jobs for Albertans. This milestone is a testament to Alberta’s potential on a global scale, and a stepping stone to further investment that will help employ even more Albertans in the future.”
“Diversifying our economy is a key pillar of Alberta’s Recovery Plan. The massive growth of our agri-food industry through investment and job creation is more evidence that we are on the right track. I look forward to seeing this sector expand further and create more opportunity for Albertans.”
Supporting new and emerging industries
As part of Alberta’s Recovery Plan, the Agri-Food Investment and Growth Strategy set an aggressive target to increase agri-food investment in Alberta by 2023, identifying major opportunities for growth and diversification.
From April 2019 to March 2022, the government facilitated 197 investment projects, with many being in the plant protein, greenhouse, agri-technology, general food processing and emerging sectors like hemp and cannabis.
- The agri-food sector contributed $8.1 billion in gross domestic product and employed 58,300 Albertans in 2021.
- The Agri-Food Investment and Growth Strategy achievements were:
- attracting $1.48 billion in agri-food investment a year early
- creating 2,998 jobs, surpassing the initial target two years early
- Announced in fall 2020, the Agri-Food Investment and Growth Strategy set targets to:
Attract more than $1.4 billion in new investment in value-added processing, creating an estimated 2,000 jobs by March 2023.
- Invest in the modernization and expansion of irrigation infrastructure in southern Alberta, adding as much as 230,000 irrigated acres through water savings and water use efficiency.
- Recently announced projects include:
- INCA Renewtech’s $72-million hemp decortication and product manufacturing facility in Vegreville
- Super-Pufft Snacks Corporation’s new $50-million potato chip processing facility in Airdrie
- Phyto Organix Foods Inc.’s $225-million yellow pea wet fractionation facility in Strathmore
- PIP International’s $170-million yellow pea wet fractionation facility in Lethbridge
The government’s approach to investment attraction combines a unique blend of grant programs, expertise, specialized facilities, product and process development, interim processing, incubation, facilitation of business connections and other business services in a concierge model to foster growth and diversification in the agri-food sector.