Alberta is introducing a new agri-processing tax credit to help get more investment into the agri-processing industry.
Agriculture Minister Nate Horner says this will be launched as part of the provincial budget when that comes out at the end of February.
“This will be a 12% non-refundable tax credit to eligible businesses that make a minimum capital investment of $10 million or more in value added agri-processing. Hopefully it will encourage facilities we already have to consider expansion, but also try to get more of those investment dollars that are sought over.”
Horner says this will help attract large-scale investment, diversify the economy and create jobs for Albertans.
He adds that this will help Alberta play a bigger role in supplying the global food demand.
“It’s an area that we know we have room to do more. There’s such a heightened expectation and awareness about food, food security, food affordability, supply chains, growing local, but also for our farmers and primary producers, this has the ability to strengthen local markets, create new markets and create new products.”
You can listen to the full interview we did with the minister below.
– Kyle Moore, Trending 55 Newsroom
