As provinces and states across North America look to capitalize on the potential of the agri-processing industry, Alberta will build on the province’s competitive advantages by launching a new tax credit program in spring 2023.
The program will ensure Alberta maintains a competitive edge over other jurisdictions and is able to maximize the number of opportunities that help grow the economy and create jobs.
Budget 2023 will introduce the Alberta Agri-Processing Investment Tax Credit to provide a 12 per cent non-refundable tax credit to support this growth and attract investments into Alberta’s agri-processing industry.
The incentive program is available to corporations making a capital investment of $10 million or more to build or expand agri-processing facilities in Alberta. Capital investments made on or after February 7, 2023, may be considered in the calculation of a company’s total tax credit.
The Agri-processing Investment Tax Credit will be ready to accept applications in Spring 2023.
Today I was thrilled to announce our plan to target investment in value-added agriculture.
The Alberta Agri-Processing Investment Tax Credit will attract large-scale investments in our agri-food sector, create jobs, and expand opportunities for primary producers. pic.twitter.com/FmPH4FQS81
— Nate Horner (@NateHornerAB) February 7, 2023
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