By rdnewsNOW Staff

Provincial Politics

Alberta promoting investment opportunities with Texas

Nov 15, 2022 | 4:51 PM

Minister of Service Alberta and Red Tape Reduction Dale Nally will travel to Texas Nov.16-18 to promote Alberta as a destination of choice for business investment.

Government officials say Minister Nally will attend the Texas Blockchain Summit, which brings together policymakers and industry leaders in cryptocurrency and blockchain, to explore new opportunities in this growing sector. Blockchain is described as a way of recording information so it is duplicated and distributed across a network in a way that makes it hard to hack or alter.

Minister Nally will also attend the Alberta Coming to Texas trade show and the Alberta Investment Forum to further strengthen relationships with what is described as a key economic trade partner and promote investment and diversification opportunities that support Alberta’s economy.

“With a low corporate tax rate, world-class talent and a rapidly growing technology sector, Alberta is an ideal place to start and grow businesses. We’ve worked hard to reduce red tape to help encourage investment, help entrepreneurs succeed and cultivate a business climate that builds on Alberta’s traditional economic strengths like energy and agriculture while also positioning our province for the future,” says Dale Nally, Minister of Service Alberta and Red Tape Reduction.

Officials say Minister Nally will be accompanied by his chief of staff.

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Mission expenses will be posted on the travel and expense disclosure page. The estimated total cost for the two-person delegation is $12,500.

The Alberta government says it is committed to working with its national and international partners to advance shared interests that can lead to new opportunities for people and businesses in Alberta and around the world.

Alberta government quick facts

• Texas is a key economic partner. In 2021, Alberta exports to Texas were
  US$8 billion and Alberta imports from Texas were US$2.2 billion.
• On any given day, Texans are purchasing crude petroleum, frozen potatoes and turbine propellers from Alberta.
• It is estimated that Texas companies supplied US$115.1 million of goods and services to Alberta’s oilsands in 2019.
• Alberta’s efforts to cut red tape, modernize regulations and reduce costs have saved Albertans and business at least $2.1 billion since 2019.
• Alberta continues to be recognized by the Canadian Federation of Independent Business as a top-performing province.

Itinerary for Minister Nally*

*Subject to change.