Competitiveness, Jobs & Investment Strategy

Competitiveness, Jobs & Investment Strategy for Alberta

For generations, Alberta led the country in private and public sector capital investment, in GDP, and in high wages. It is positive that our GDP and exports rebounded in 2022 on the strength of our energy sector and global commodity markets, but to ensure high-paying and sustained job growth we have got to increase our competitiveness, productivity, and levels of capital investment across the economy.

The energy sector investment is down at a time when cash flows are high. Overall investment levels are also flagging. This means Alberta is losing investment, losing out on economic growth and losing well-paying jobs. We need to have a strategy to reverse this.

The Strategy outlined below provides the certainty and incentives needed to maximize potential investment and build a diverse and resilient jobs economy.

“The policies presented in this strategy will support strong economic growth in Alberta’s Industrial Heartland. Specifically, Alberta stands to greatly benefit from increased flexibility and further expansion of the Alberta Petrochemical Incentive Program." Mark Plamondon Executive Director of the Alberta's Industrial Heartland Association

Our Proposal 

  • ALBERTA’S FUTURE TAX CREDIT

Alberta’s Future Tax Credit is a refundable tax credit of 20 per cent on capital investment in new
emerging sectors. An incremental refundable amount of up to 10 per cent will be awarded for new capital investment that generates key outcomes, like high-skilled job opportunities, new technological capacity in our province, or new sectoral skills and know-how.

  • SUPERCHARGING THE ALBERTA PETROCHEMICAL INCENTIVE PROGRAM

Alberta must continue to build on its strengths. We will expand the Alberta Petrochemical Incentive Program (APIP), a highly successful Petrochemical Diversification Program brought in by the NDP. The current program is working well, but it could work better with the right investment.

  • CONSULT ON EXPANDING THE ALBERTA INDIGENOUS OPPORTUNITIES CORPORATION

We have heard initial feedback that the Alberta Indigenous Opportunities Corporation is working. We would launch broad consultations and incorporate Indigenous perspectives on potential expansion into a greater number of sectors across the economy, and, in some cases, at a
smaller scale than large energy projects.

  • PERFORMANCE FAST PASS & NAVIGATORS

We propose establishing a regulatory Performance Fast Pass. This pass would be available to companies that have a proven track record of compliance with all rules and regulations applying to the company. 

  • REPEAL THE SOVEREIGNTY ACT

We will repeal the job-killing Sovereignty Act. It has no place in Alberta, where we must value our stable and secure investment environment. At minimum, the Act creates instability and uncertainty in our economy at a pivotal time when every signal must be clear and aligned to attract business growth and investment.

"We are at a pivotal moment. The decisions we make today will have long-lasting implications for future generations. We cannot afford to simply look to the past. We must build on it and look towards the future with ambition and hope." Rachel Notley

Please click the link below to read the full report. These policies are not final. Please let us know your thoughts by signing up for the upcoming consultation or by commenting below.

Find Out More

Leave a Comment

James Peterson

Posted

Why not cut all corporate welfare? I would be all over that. But if you have to, why not invest in nuclear energy? It will be 20 years before fusion power is feasible, but nuclear is still a good option with the new technologies. We live in an incredibly stable geological area of the world. And your fast track will actually fast track the end of the O&G industry because of pending federal regulations that would strangle it Why not just be forthcoming that it's your goal? APIP can't work because we have no means to get to market. Because of the NDP/Liberal coalition that is blocking it. So it goes... there is nothing here that I see as in the best interests of the people... The NDP is becoming the party of the corporate elite and I don't see that as a positive. It might garner you more donations. It might grant RN a position at the UN, but I don't see any benefit to me and mine.

Gurpreet singh

Posted

Need a job where should I apply..

John Smith

Posted

In terms of economics, fascism incorporates elements of both capitalism and socialism. Fascist economists advocate for self-sufficiency and individual profit, but promote government subsidies of corporations. Fascist economics thus supports a blend of both private and public ownership over the means of production—there is an emphasis on private profit, but at the same time, the national interest is ultimately more important.

Tony Kryzanowski

Posted

Develop an agroforestry industry to expand the fully dedicated forest resource, for carbon sequestration, carbon credit income for landowners, an alternative feedstock for bioenergy and bioproduct development, while enhancing wildlife habitat and biodiversity.

Lucretia Martenet

Posted

Accidentally turned onto CPAC last week and caught the NDP member from Powel River, BC, on a third reading of her bill. She said something I have thought vital for some time. She spoke of the importance of working with the rural communities, sitting down with them and helping them work out how they and their community would address the problems facing them. This used to be called community development, but funding disappeared in the trickle down era. It is time to bring it back! Train some of those enthusiastic young people who want to change the world (was I ever that young?) and send them out to learn from ‘the people’ and work with them to develop local, ground up solutions. It’s also called democracy. Maybe it’s time to bring that back, too. Did it for years. It’s slow, but it works.

Malley Charles

Posted

Keep doing what you are doing , Looking out for AB and this great country of Canada

Patrick

Posted

We need oil to go to the market I don't like electric vehicle because if you do accident you die inside I like hybrid cars We need to separate Alberta from Canada We need Government insurance for car Climate change is a lie you should kick out World Economic Forum You should do taugh on crime

Reynold Reimer

Posted

Diversify! Diversify! Diversify! We can not continue to profit from fossils. At present we are all war profiteers because the present windfall profits enjoyed by the fossil industry are largely due to war. Also, at a time of increasing climate chaos the sensible thing to do is to transition.

Mary Nokleby

Posted

Everything we can do to foster a clean and renewable economy will benefit my 6 grandchildren; doubling down on unconventional oil and gas, not so much so. It's past time we had some honest public conversations about the state of the world and the role Alberta's economy plays in the global situation.

Melanie Hoffman

Posted

How will we bring visionary work such as regeneration.org/solutions to life across Alberta’s communities? What does Alberta beyond extractionism, a regenerative Alberta, look like?

Bruce Trautman

Posted

Has to be a method of rewards on investment that STAYS in Alberta and doesn't get syphoned off to the U.S. or elsewhere ! A lot of effort also has to be put into getting better support for Pipelines ! We could also use another Upgrader plant and another Refinery too !