The province said this new tax credit will ensure Alberta is set up to grow the economy and help feed the world.
will give a 12 per cent non-refundable tax credit to corporations that make a minimum capital investment of $10 million or more to to build or expand agri-processing facilities in Alberta.
Horner said the specifics of the tax credit are still being ironed out, but believes it will benefit all aspects if the agriculture sector.“If you assume that anything that takes a raw agricultural commodity and changes it and adds value in some way, that fits the model,” added Horner. Horner said the goal is to draw even more business to the province: “This is for new investment — that could mean expansion of current facilities, but that is the intention, this is for new investment.”Finance Minster Travis Toews said the success in the ag sector played a role last week, when Alberta saw its credit rating improve.
“Just over a week ago, Moody’s Investor Service upgraded Alberta’s credit rating and Alberta’s strong economy is one of the factors that influenced that rating change, good news, good news for all Albertans,” added Toews.
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