Province announces strategic programs to create jobs and attract investment to tech sector

Jul 22, 2020 | 12:53 PM

EDMONTON, AB– Alberta’s government is introducing the Innovation Employment Grant (IEG).

This program is going to promote economic growth and job creation by supporting small and medium-sized businesses that invest in research and development (R&D).

Alberta Premier Jason Kenney made the announcement today (July 22) and says job creation is vital in a pandemic.

Alberta’s government will help create up to 4,000 jobs by investing an additional $175 million over three years to Alberta Enterprise Corporation.

“The Innovation Employment Grant will create good jobs in the critical technology and innovation sectors. Together with Alberta’s Job Creation Tax Cut, this will make Alberta the best place in Canada to start a tech firm.”

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“More venture capital will also be available through the Alberta Enterprise Corporation. And, our Skills for Jobs Agenda, together with the start-up visa we are creating through the Alberta Immigration Program, will make our province a magnet for new tech start-ups.”

The IEG will reward businesses that make investments into technology and innovation programs by providing a grant of up to 20 per cent of R&D spending.

Alberta job creators will have a competitive advantage at each stage in their development because of the IEG and a low general business tax rate.

This is just the latest of many steps of Alberta’s Recovery Plan.

by Connor Gunn