Posted on Jan 2, 2017
Welcome 2017 – Onwards and Upwards
With a new year comes new beginnings. 2017 will bring growth and diversification for our province. After two years of economic downturn, there are signs of the beginning of economic recovery. I have been working hard with my colleagues to grow and diversify the economy to get Albertans back to work through the Alberta Jobs Plan. The Alberta government has set the policy signals to open our doors to new opportunities, new industries, new investment, diversification and therefore new jobs in 2017.
Bill 30: Investing in a Diversified Alberta Economy Act will establish two tax credits that will drive innovation, diversification and job creation. The Capital Investment Tax Credit will help ensure that Alberta is attractive and competitive for investments by encouraging large-scale capital investments that will support thousands of direct and indirect jobs. The Alberta Investor Tax Credit will bring Alberta investors and small businesses together. It will be available for investments in companies that are engaged substantially in proprietary technology research, development or commercialization, interactive digital media development, video post-production, digital animation or tourism.
The Alberta Small business corporate tax has also been reduced by one-third, from 3% to 2%. This gives Alberta the second lowest rate in Canada. New facilities supported by the Petrochemicals Diversification Program are expected to add up to 4,000 jobs. Other new infrastructure projects that have been added to the Capital Plan are estimated to add a further 10,000 jobs for the next three years.
More than 25,000 jobs have been steadily added in the province since August 2016, and this growth continues to tick upwards. Alberta remains competitive and strong. The recent anguish we have endured and have come through is proof that our workforce is resilient. The worst may be behind us, but we have a lot of rebuilding to do. That is why our government will continue to provide for Albertans through these tough times. We will continue to ensure that affordable child care is available to hard working families, and that kids are receiving the best education possible so that they can be assured a bright future. We will continue to ensure that all families have access to health care. We will continue to work for all Albertans in making sure that this province will support them and their well-being.