Alberta
Canada’s Premiers unanimously back Alberta! May result in 1.7 billion dollar rebate from Ottawa.
As the meeting of Canada’s 13 Premier’s and Territorial Leaders wrapped up today in Toronto, Premier Jason Kenney stopped to make a video message for Albertans.
The big issue of the day on Alberta’s agenda was an update to the fiscal stabilization program. Premier Kenney says the Premiers unanimously supported Alberta’s call for a retroactive rebate to the fiscal stabilization program for Alberta. If the Premiers are successful in their approach to the federal government next month, Alberta would stand to pick up over 1.5 Billion dollars. Kenney says the province would use that money to create jobs.
From the Province of Alberta
Premiers back key parts of Alberta’s fair deal plan
All of Canada’s Premiers back key aspects of Alberta’s fair deal plan.
This includes support for retroactive reform of the Fiscal Stabilization Program and changes to the new federal Environmental Impact Act (Bill C-69).
The Premiers agreed the Fiscal Stabilization Program must be strengthened to make it more responsive to economic downturns in resource markets. The agreement came at an extraordinary Council of the Federation meeting in Toronto that was called in the wake of the recent federal election.
The group called for the removal of the per capital equalization cap that prevents Alberta from receiving full payments following sudden declines in revenue. This would add a $1.7-billion retroactive payment going back to 2015-16.
“I am very happy with the progress that we made in our fight for fairness. Just as Alberta has been there to financially support other regions through tough times, the united voice of Premiers across the country is supporting Alberta as we work to bring jobs and investment back to Canada, and secure a fair deal for Albertans.”
Discussions at the Council of the Federation meetings in Toronto focused on subjects vital to Alberta’s economic success and growth, such as streamlining resource project assessments in the federal Environmental Impact Act and getting our energy products to market to expand international trade opportunities.
“Through these meetings, the provinces and territories of Canada have shown we’re willing to stand together on the issues that matter most to Canadians. It’s time for the federal government to step up and show that it’s listening.”
The Council of the Federation, created in 2003, comprises all 13 provincial and territorial Premiers. It promotes provincial-territorial cooperation and closer ties between members, and fosters meaningful relations between governments.
Read more stories on Todayville.
Agriculture
Lacombe meat processor scores $1.2 million dollar provincial tax credit to help expansion
Alberta’s government continues to attract investment and grow the provincial economy.
The province’s inviting and tax-friendly business environment, and abundant agricultural resources, make it one of North America’s best places to do business. In addition, the Agri-Processing Investment Tax Credit helps attract investment that will further diversify Alberta’s agriculture industry.
Beretta Farms is the most recent company to qualify for the tax credit by expanding its existing facility with the potential to significantly increase production capacity. It invested more than $10.9 million in the project that is expected to increase the plant’s processing capacity from 29,583 to 44,688 head of cattle per year. Eleven new employees were hired after the expansion and the company plans to hire ten more. Through the Agri-Processing Investment Tax Credit, Alberta’s government has issued Beretta Farms a tax credit of $1,228,735.
“The Agri-Processing Investment Tax Credit is building on Alberta’s existing competitive advantages for agri-food companies and the primary producers that supply them. This facility expansion will allow Beretta Farms to increase production capacity, which means more Alberta beef across the country, and around the world.”
“This expansion by Beretta Farms is great news for Lacombe and central Alberta. It not only supports local job creation and economic growth but also strengthens Alberta’s global reputation for producing high-quality meat products. I’m proud to see our government supporting agricultural innovation and investment right here in our community.”
The tax credit provides a 12 per cent non-refundable, non-transferable tax credit when businesses invest $10 million or more in a project to build or expand a value-added agri-processing facility in Alberta. The program is open to any food manufacturers and bio processors that add value to commodities like grains or meat or turn agricultural byproducts into new consumer or industrial goods.
Beretta Farms’ facility in Lacombe is a federally registered, European Union-approved harvesting and meat processing facility specializing in the slaughter, processing, packaging and distribution of Canadian and United States cattle and bison meat products to 87 countries worldwide.
“Our recent plant expansion project at our facility in Lacombe has allowed us to increase our processing capacities and add more job opportunities in the central Alberta area. With the support and recognition from the Government of Alberta’s tax credit program, we feel we are in a better position to continue our success and have the confidence to grow our meat brands into the future.”
Alberta’s agri-processing sector is the second-largest manufacturing industry in the province and meat processing plays an important role in the sector, generating millions in annual economic impact and creating thousands of jobs. Alberta continues to be an attractive place for agricultural investment due to its agricultural resources, one of the lowest tax rates in North America, a business-friendly environment and a robust transportation network to connect with international markets.
Quick facts
- Since 2023, there are 16 applicants to the Agri-Processing Investment Tax Credit for projects worth about $1.6 billion total in new investment in Alberta’s agri-processing sector.
- To date, 13 projects have received conditional approval under the program.
- Each applicant must submit progress reports, then apply for a tax credit certificate when the project is complete.
- Beretta Farms has expanded the Lacombe facility by 10,000 square feet to include new warehousing, cooler space and an office building.
- This project has the potential to increase production capacity by 50 per cent, thereby facilitating entry into more European markets.
Related information
From Premier Danielle Smith and Alberta.ca/Next
Let’s talk about an Alberta Pension Plan for a minute.
With our young Alberta workforce paying billions more into the CPP each year than our seniors get back in benefits, it’s time to ask whether we stay with the status quo or create our own Alberta Pension Plan that would guarantee as good or better benefits for seniors and lower premiums for workers.
I want to hear your perspective on this idea and please check out the video. Get the facts. Join the conversation.
Visit Alberta.ca/next
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