Over the course of the year, Alberta has continued to cement its position as the economic engine of Canada due to our highly skilled workforce, business-friendly environment, low taxes, and diversified economy.
It is clear, our government has set the foundation for Alberta’s economic success for years to come. Our province remains a national leader in job growth, with significant contributions from the private sector, fueling Canada’s overall employment expansion.
Alberta’s proactive investment strategies, through programs like the Investment and Growth Fund, are bringing high-quality projects to Alberta, contributing to local economic development and job opportunities across the province.
Alberta is increasing its international trade partnerships, with successful trade missions across key international markets, expanding Alberta’s presence in sectors like agri-food, energy, and technology.
Our private sector added 69,600 jobs in the last 12 months, accounting for 40 per cent of Canada’s total private sector employment growth. Alberta secured significant projects, including Linde’s $2 billion clean hydrogen facility, which will supply Dow’s $11.6 billion net-zero petrochemical project.
In 2024, the province closed deals on three major investments through the Investment Growth Fund, including Fortinet’s cybersecurity facility in Calgary, Logistik Unicorp’s hemp processing facility in Elk Point, and NewCold’s food storage facility in Coaldale.
The Film and Television Tax Credit supported 34 productions in 2024 which is estimated to spend $129.1 million in Alberta that will generate $72.32 million in GDP.
As we wrap up 2024, Alberta’s economy is finishing the year strong, setting the stage for even bigger opportunities in 2025.
Wishing you and your loved ones a Happy New Year!
If you have any questions or feedback, please reach out to my office at Chestermere.Strathmore@assembly.ab.ca
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