Matt Jones. (United Conservative Caucus)

By Matt Jones

Letter To The Editor

Investment and economic growth in 2023: Minister Jones

Dec 27, 2023 | 2:44 PM

Minister of Jobs, Economy and Trade Matt Jones issued the following statement recapping highlights from Alberta’s economy in 2023:

“Alberta showed tremendous economic strength in 2023. We continue to lead the nation in growth while creating jobs and welcoming billions of dollars in investment to our province. Alberta saw employment gains in 10 of the last 12 months, with 98,800 more Albertans employed in November 2023 than the same time last year – an increase of 4.1 per cent and well exceeding the national average of 2.5 per cent. With job numbers having long rebounded to pre-pandemic levels, Alberta’s labour market remains the hottest in Canada.

“The Alberta Advantage was front and centre this year, with global companies continuing to choose our province thanks to our competitive tax regime, business-friendly policies, highly educated and skilled workforce, abundance of natural resources and world-class education system. In fact, the province continues to lead the country in per capita investment and generated $176 billion in public and private investments as of December 2023 from companies like Coca-Cola Canada, Teknol and Flair Airlines. Just last month, Dow announced an $11.6-billion Fort Saskatchewan Path2Zero project to establish the world’s first net-zero greenhouse gas emissions-integrated ethylene cracker and derivatives site that will create about 6,000 jobs. This project is one of the largest private sector investments in Alberta’s history and proof positive that job creators can feel confident spending their money here.

“Venture capital growth in Alberta also hit record levels in the past five years. Year-to-date investments stand at $534 million, which is five per cent higher than the same period last year, while the rest of Canada has seen a 25 per cent decline. Behind those investments are an impressive list of Alberta-based businesses that have been touted by Deloitte as some of the fastest growing in Canada in 2023 – including top-ranked Neo Financial.

“Through the Investment and Growth Fund, Alberta’s government was able to support innovative, job-creating companies in setting up shop or expanding into the province in 2023. This included companies like English Bay, S3 Group and Applexus Technologies.

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“Economic success was also driven by the Film and Television Tax Credit, which has helped Alberta become a world-class destination for large-scale film and television productions. HBO’s hit series The Last of Us, supported by the tax credit, generated more than $182 million for Alberta’s GDP and supported 1,490 jobs across the province. It also showcased the breathtaking and diverse sights of Alberta, from mountainscapes and vast prairies to big cities and small towns, which will lead to increased tourism.

“Alberta’s economy is vibrant and resilient. As we round out 2023 and look to the new year, I am optimistic our province will continue to be the best place to live, work, invest, start or grow a business and raise a family.”

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EDITOR’S NOTE: The views expressed above are those of the author and do not necessarily represent those of rdnewsNOW or Pattison Media. Column suggestions and letters to the editor can be sent to news@rdnewsNOW.com.

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