Economic Development and Trade:

Resilience through Diversification

Michele Evans

Assistant Deputy Minister

Economic Development Division

March 8, 2018

2

Alberta’s Economy

Economic Growth Exceeds

Expectations

3Source: 2017/18 Third Quarter Fiscal Highlights

https://www.alberta.ca/release.cfm?xID=52481A23C2A73-D735-64F8-78352B8F55E8DE23

Pipelines at Capacity

4Source: 2017/18 Third Quarter Fiscal Highlights

https://www.alberta.ca/release.cfm?xID=52481A23C2A73-D735-64F8-78352B8F55E8DE23

5

6

Economic Development and Trade

• Strategic Policy & Corporate Services

• Science and Innovation

• Economic Development

• Trade and Investment Attraction

7

Economic Development Division

8

• Access to Capital

• Program Delivery & Engagement

• Industry Development• Industry Development

Northern Alberta Development Council

• Entrepreneurship & Regional Development

Our Team – Regional Economic

Development Services (REDS)

9

Alberta Investor Tax Credit (AITC)

• $90 million over 3 years to encourage investment in non-

traditional sectors with strong job creation potential.

• AITC offers a 30% tax credit to investors who provide capital

to Alberta small businesses.

• Doing research, development or commercialization of new

technology, new products or new processes.

• Eligibility for investors is limited to investors who pay personal

or corporate taxes in Alberta and invest in eligible small

businesses registered with the AITC program.

10

Capital Investment Tax Credit

(CITC)

• $70 million two year program to encourage companies to

make timely capital investments.

• A non-refundable tax credit valued at 10% of a corporation’s

eligible capital expenditures, up to $5 million.

• Available to companies involved in the activities of

manufacturing, processing and tourism infrastructure making

an investment of $1 million or more.

• Eligible costs include the purchase of machinery, equipment

and buildings that closely align to capital costs allowed under

the federal government’s Capital Cost Allowance.

• Third intake deadline is midnight on March 16, 2018 MST.

11

Alberta Export Expansion

Package

Recently expanded to include Cultural, Tourism and

Agriculture/Agri-food sectors

12

Export Support Fund

SME Export Support Fund

Exhibition Support Fund

Industry Association

Support Fund

Export Readiness Programs

Micro-voucher Program

Seminars/Events for Not for Profit

Global Buyers and Investors

Program

13

Oil sands innovation fund

32% ($440 million)

Innovation across sectors

16% ($225 million)Industrial Energy

Efficiency18% ($240 million)

Bioenergy5% ($63M)

Green loan guarantees29% ($400 million)

Energy Innovation Fund

• $1.4 billion plan to drive innovation, boost energy industry,

&diversify the economy

For more information: https://www.alberta.ca/energy-innovation-fund.aspx

Economic Diversification

Advisory Committee (EDAC)

• Appointed in October 2016 with a mandate to engage

Albertans and explore opportunities to increase the value

of our energy resources, create jobs and attract new

investment.

• The committee has submitted its final report, including 36

recommendations.

• The government has accepted the committee’s advice and

is moving forward immediately on a number of fronts.

14

Broadband Strategy Investigation

• The Government of Alberta is working

towards a future where every Albertan has

access to a good-quality broadband

connect and close the gap in the urban-

rural divide.

• Reliable broadband connections

• stimulate economic development

• ensure sustainability of rural communities, and

• enable jobs and access to education, agriculture,

health and tourism.

15

Thank You

16

Contact:

Michele Evans

(780) 644-7175

Michele.Evans@gov.ab.ca

@mchlevns