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Alberta, Jul 7 (Canadian-Media): The introduction of the Bill 33, the Alberta Investment Attraction Act by the Alberta Government would help drive high-impact investment to the province and create jobs, media reports said.
Jason Kenney. Image credit: alberta.ca
The passing of the Bill 33 would create the Invest Alberta Corporation , an agency to help promote Alberta as a prime investment location for businesses from across Canada and around the world, attracting high-value, job-creating investment.
“The Invest Alberta Corporation will lead an aggressive international campaign to attract job-creating investment across key sectors and tell institutional investors the truth about Alberta’s competitiveness and environmentally responsible energy sector. Alberta has seen the flight of tens of billions of dollars of capital in the last five years. In order to get Alberta back to work, we must reverse that flow of investment back to Alberta,” said Jason Kenney, Premier of Alberta in a news release.
By instilling investor confidence and generate investment in the province’s primary sectors including energy, agriculture and tourism, the Invest Alberta Corporation would play a central role in Alberta’s economic future in helping Alberta's Recovery Plan following the COVID-19 pandemic.
Investment opportunities for Alberta’s high-growth industries, such as technology, aviation and aerospace, and financial services would also be pursued by the corporation.
Alberta’s Recovery Plan with timely, targeted investments and bold policy reforms will help create thousands of good jobs for Albertans by building schools, roads and other core infrastructure that benefits Albertans and communities. It will further diversify our economy by helping sectors grow and succeed with its most competitive tax environment in Canada, return investment to our province by ensuring strong future for Alberta’s innovative energy industry, and immediately show investors around the world that we mean business.
Once created, the new Alberta-based agency would highlight the low tax rates, highly skilled workforce and business-minded government policies that make Alberta a great place for investments.
If the legislation passes, the corporation’s operations and investment attraction activities would be overseen by a public board.
An amount of $6 million would be provided by the Government for its operations for the next three years.
Invest Alberta will coordinate the work of Alberta’s 11 trade promotion offices around the world, with a renewed focus on attracting foreign direct investment in Alberta.
The corporation will also expand its footprint to include key foreign markets for Alberta, beginning with a presence in Houston, Texas.