As our province continues to see success in containing COVID-19 and reopening the economy, it is time to look to the future. On June 29, our government announced an ambitious Economic Recovery Plan. Focused on creating jobs now, building up our province, and diversifying the economy for the future, this plan introduces new measures and investments that will help get Albertans back to work.
As part of Alberta’s Economic Recovery Plan, our government is investing in infrastructure projects which will create tens of thousands of jobs in the near term, and fuel prosperity for years to come. In total, the Recovery Plan is expected to create 50,000 jobs, many of which will be related to the construction and maintenance of Alberta’s critical infrastructure. Some of the projects included in the plan are gas line extensions, twinning of highways, treatment facilities for Albertans recovering from addiction and projects to support Alberta’s agricultural industry.
Alberta’s recovery plan will also see the accelerated diversification of our economy. As part of this plan, the corporate tax rate in Alberta has been reduced to 8 percent, making our province the most attractive place to do business in Canada. Other measures will support growth in high-opportunity sectors like petrochemical manufacturing, minerals, technology, finance and more. The new Innovation Employment Grant will be aimed at creating jobs at smaller companies by providing a refundable tax credit to companies that invest in research and development. This recovery plan will support Alberta’s oil and gas industry while boosting opportunities in other sectors.
Last week, applications also opened for grants to support small businesses safely reopen in Alberta. From June 29 to August 31, small and medium-sized businesses, co-ops and non-profits with less than 500 employees can apply for up to $5,000 of funding to help with their relaunch through the Small and Medium Enterprise Relaunch Grant program. This funding will help businesses who have lost a significant portion of their revenues reopen safely and help get Albertans back to work. For more details, please visit: https://www.alberta.ca/sme-relaunch-grant.aspx.
Please continue to reach out to my Constituency Office at firstname.lastname@example.org or 780-929-3290 with questions and feedback on provincial supports, services and legislation.
Brad Rutherford, MLA
Leduc – Beaumont Constituency