Alberta’s Recovery Plan announced Monday includes a record $10-billion investment in infrastructure and a plan for 50,000 jobs this year.
“Albertans have risen to the challenge of the pandemic, though we will continue to be careful, especially for those who are most at risk. Now we must extend that same culture of resilience to overcoming the greatest economic challenge of our time. Today, we take a big step forward in that journey with the launch of Alberta’s Recovery Plan, a bold, ambitious long-term strategy to build our province, to diversify our economy, and to create jobs,” said Alberta Premier Jason Kenney in a news release.
Details about the Plan can be found here.
The government this year Alberta will see the largest ever investment in the province’s infrastructure, with $10 billion being spent on projects in every corner of the province.
In a major new initiative, the government will launch a series of large-scale infrastructure projects this summer at a total cost of $612 million. These projects are designed to create at least 2,500 jobs and the projects have been chosen to improve long-term economic growth and to encourage investment across the province, it said.
These strategic projects will be spread across every region of the province, and will include the twinning of highways, projects that support growth in the agricultural sector, gas line extensions for northern residents, treatment facilities for Albertans recovering from addictions, and other important projects. The projects announced Monday will be followed by more projects announced in the coming months that will drive economic expansion and provide a legacy that will benefit our province for decades to come, added the government.
“Altogether, this plan represents a bold statement of confidence in the future of Alberta. It is based on common sense, not ideology. It balances targeted government spending in areas like job-creating infrastructure with strong incentives for private sector growth, like the accelerated Job Creation Tax Cut and the expanded Red Tape Reduction initiative. It ensures a future for our largest industry – oil and gas – while boosting diversification in key growth sectors, like tech and innovation through the new Innovation Employment Grant, and the Alberta Enterprise Corporation,” said Kenney.
The Calgary and Edmonton Chambers of Commerce said they are pleased to see the release of Alberta’s Recovery Plan, outlining a new path forward for the province’s economy.
“Alberta’s Recovery Plan is a strong step in the right direction and shows that the province has been listening to the concerns of our job creators,” said Janet Riopel, President & CEO of the Edmonton Chamber of Commerce. “This plan will make Alberta businesses more competitive and give a much-needed boost to investor confidence.”
“Alberta’s Recovery Plan has the right focus by placing innovation at the heart with growth in our base industries,” said Sandip Lalli, President & CEO of the Calgary Chamber of Commerce. “As we look to see how this recovery plan is implemented, we will continue to double down on public policy that forges an inclusive future for all Albertans; where vibrant business and vibrant community thrive.”