RAPID INNOVATION DRIVES ECONOMIC GROWTH

Alberta’s manufacturing sector is innovative and high tech. We are innovating rapidly both in terms of the products we create and the processes we use.

These technologies are changing the way companies design and make the products and how consumers use and interact with them. They are crucial to ensure Canada continues to compete in the global economy.

Investing in manufacturing ensures the plants stay here, the jobs stay here, and the money stays here.

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Innovation and commercialization of new products will create the high-skilled, high-paying jobs that Albertans wants and will make sure we are ready for tomorrow. That’s why it’s so important that we have a manufacturing strategy, which keeps our sector globally competitive and brings our economy into the future. Government policy needs to support these innovations and, allow manufacturers to attract the right people quickly.

Here are 3 steps government can take to help Albertan manufacturers drive innovation:

1. Introduce an “Alberta Made” matching investment tax credit or grant program to assist companies with plant expansion, upgrades, technology adoption, onshoring, re-tooling, improving environmental performance, and exporting.
2. Implement a Patent Box tax exemption system to reward commercialization and production of goods and advanced technologies in Alberta.
3. Adopt a comprehensive approach to supporting Alberta’s strategic and emerging manufacturing sectors, including petrochemicals, food processing, fabricated metals, wood products, mineral value chains and machinery and electronic equipment.