Province giving capital tax credit to diversify economy

first_imgA tax break for companies’ capital investment projects is being hailed as a way to diversify Alberta’s economy and create new jobs. Minister of Economic Development and Trade Deron Bilous appeared at Edmonton International Airport Monday to speak about the capital investment tax credit alongside Aurora Cannabis, which is investing $120 million into a new production facility inside the airport. “This was the right decision: a billion dollars of investment from the first two intakes which may not have happened as quickly as they did, they may not have happened in Alberta companies may have decided to make those investments elsewhere,” Bilous said. Chief Corporate Officer Cam Battley said the company is a conditional recipient for now and is eligible for up to a 10 per cent break on its investment into buildings and machinery. “It allows us to double down on our investment in technology and that is critically important to our business strategy one of the things that differentiate Aurora from our peers and one of things that positions us for truly global expansion technology.” According to the province, private sector investment in Alberta was up to more than twice the national average.last_img

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