The Alberta Recovery Plan, released on June 29, to reboot the provincial economy and overcome the biggest crises in close to a century, puts in place tools that support the vision of Calgary in the New Economy to create long-term prosperity.
“The support programs put forward are an invaluable step in helping underpin and move forward our vision of Calgary being the destination for people who want the help solve some of the world’s greatest challenges through advanced technology” said Mary Moran, President and Chief Executive Officer of Calgary Economic Development.
Alberta is working to recover from the COVID-19 pandemic, global economic slowdown, and the plunge in oil prices in the first six months of 2020. The announcement included a $10 billion in investment in infrastructure projects intended to create 50,000 jobs.
Calgary Economic Development believes maximizing the competitiveness to our key industrial sectors will be vital to sustained prosperity. The Alberta Recovery Plan supports a foundation for the future, underpinned by advanced technology, a highly skilled local workforce, and a history of entrepreneurial thinking. The creation of a new provincial agency, Invest Alberta, will lead what Premier Jason Kenney described as an “aggressive worldwide campaign to attract investment," aligns with the investment attraction work of Calgary Economic Development.
“We are encouraged the Government of Alberta is putting in place the tools that will help us attract investment. The lowest corporate tax rate in the country, Startup Visa program, Innovation Employment Grant and earmarking $175 million for Alberta Enterprise Corporation, will attract more venture capital. We believe these measures will enable us to do that more effectively.”