economic development and trade: resilience through ... · michele evans (780) 644-7175...
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![Page 1: Economic Development and Trade: Resilience through ... · Michele Evans (780) 644-7175 Michele.Evans@gov.ab.ca @mchlevns. Title: Regional Economic Development Services Author: Donna](https://reader033.vdocuments.net/reader033/viewer/2022050212/5f5e544d2157de7fa043fbca/html5/thumbnails/1.jpg)
Economic Development and Trade:
Resilience through Diversification
Michele Evans
Assistant Deputy Minister
Economic Development Division
March 8, 2018
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Alberta’s Economy
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Economic Growth Exceeds
Expectations
3Source: 2017/18 Third Quarter Fiscal Highlights
https://www.alberta.ca/release.cfm?xID=52481A23C2A73-D735-64F8-78352B8F55E8DE23
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Pipelines at Capacity
4Source: 2017/18 Third Quarter Fiscal Highlights
https://www.alberta.ca/release.cfm?xID=52481A23C2A73-D735-64F8-78352B8F55E8DE23
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Economic Development and Trade
• Strategic Policy & Corporate Services
• Science and Innovation
• Economic Development
• Trade and Investment Attraction
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Economic Development Division
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• Access to Capital
• Program Delivery & Engagement
• Industry Development• Industry Development
Northern Alberta Development Council
• Entrepreneurship & Regional Development
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Our Team – Regional Economic
Development Services (REDS)
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Alberta Investor Tax Credit (AITC)
• $90 million over 3 years to encourage investment in non-
traditional sectors with strong job creation potential.
• AITC offers a 30% tax credit to investors who provide capital
to Alberta small businesses.
• Doing research, development or commercialization of new
technology, new products or new processes.
• Eligibility for investors is limited to investors who pay personal
or corporate taxes in Alberta and invest in eligible small
businesses registered with the AITC program.
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Capital Investment Tax Credit
(CITC)
• $70 million two year program to encourage companies to
make timely capital investments.
• A non-refundable tax credit valued at 10% of a corporation’s
eligible capital expenditures, up to $5 million.
• Available to companies involved in the activities of
manufacturing, processing and tourism infrastructure making
an investment of $1 million or more.
• Eligible costs include the purchase of machinery, equipment
and buildings that closely align to capital costs allowed under
the federal government’s Capital Cost Allowance.
• Third intake deadline is midnight on March 16, 2018 MST.
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Alberta Export Expansion
Package
Recently expanded to include Cultural, Tourism and
Agriculture/Agri-food sectors
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Export Support Fund
SME Export Support Fund
Exhibition Support Fund
Industry Association
Support Fund
Export Readiness Programs
Micro-voucher Program
Seminars/Events for Not for Profit
Global Buyers and Investors
Program
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Oil sands innovation fund
32% ($440 million)
Innovation across sectors
16% ($225 million)Industrial Energy
Efficiency18% ($240 million)
Bioenergy5% ($63M)
Green loan guarantees29% ($400 million)
Energy Innovation Fund
• $1.4 billion plan to drive innovation, boost energy industry,
&diversify the economy
For more information: https://www.alberta.ca/energy-innovation-fund.aspx
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Economic Diversification
Advisory Committee (EDAC)
• Appointed in October 2016 with a mandate to engage
Albertans and explore opportunities to increase the value
of our energy resources, create jobs and attract new
investment.
• The committee has submitted its final report, including 36
recommendations.
• The government has accepted the committee’s advice and
is moving forward immediately on a number of fronts.
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Broadband Strategy Investigation
• The Government of Alberta is working
towards a future where every Albertan has
access to a good-quality broadband
connect and close the gap in the urban-
rural divide.
• Reliable broadband connections
• stimulate economic development
• ensure sustainability of rural communities, and
• enable jobs and access to education, agriculture,
health and tourism.
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Thank You
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Contact:
Michele Evans
(780) 644-7175
@mchlevns