By Sheldon Spackman

Olds College supports government’s proposed Growth and Diversification Act

Mar 15, 2018 | 5:12 PM

Officials with Olds College are giving the thumbs-up to the Alberta Government’s proposed Growth and Diversification Act announced on Thursday, as well as the planned creation of 3,000 new spaces for technology programs in the post-secondary system.

In a release, Olds College President Stuart Cullum says the Agriculture sector in Alberta is a key industry for the province’s economic diversification and prosperity.

“Olds College has several initiatives underway to respond to the corresponding demand for graduates who are as adept in the use of technology as they are in the practice of agriculture and food production.”

“Our industry is highly competitive globally in optimizing technology and science for the efficient use of land and water in agri-food production,” added Cullum. “This is essentially the definition of Smart Agriculture and Olds College is positioning to play a leadership role in supporting the industry by developing hundreds of new learning spaces in the years ahead for Alberta students.”

Olds College officials point to their current smart agriculture initiative, the Werklund Agriculture Institute and their upcoming Olds College Smart Farm launching this spring as examples of cutting-edge learning and applied research environments for students, life-long learners and industry partners.

2024 Spring Rocket League Tournament

St. Patrick's Community School Esports team wins top spot in national tournament

9h ago

update

Mistrial declared in case against Red Deer massage therapist

14h ago

Rev it!

City of Red Deer offers free decibel reading event this Saturday

15h ago

If passed, government officials say the Growth and Diversification Act would create a new Interactive Digital Media Tax Credit (IDMTC) to help Alberta’s businesses compete with other provinces like Ontario, B.C. and Quebec which already provide similar incentives.

The IDMTC according to officials would also refund Alberta digital media companies 25 per cent of the salaries, wages and bonuses they pay their Alberta employees who work directly to create interactive digital media products.

In addition, the credit would also make it easier for local entrepreneurs to open new studios and attract investment from other jurisdictions.

There are said to be more than 50 interactive digital media studios in Alberta currently with more than 500 full-time employees earning an average of over $70,000 a year and the industry contributing roughly $80 million to the province’s annual GDP.

Other highlights of the proposed Bill government officials note include offering digital media companies an extra five per cent refund for payroll costs of under-represented workers such as women, Indigenous people and people with disabilities.

The proposed legislation would also aim to expand two tax credits the government implemented last year: the Alberta Investor Tax Credit (AITC) and the Capital Investment Tax Credit (CITC).

Government officials claim the program has already helped 35 Alberta companies take on new major construction projects and upgrades which are expected to support thousands of new jobs and contribute more than $1 billion to Alberta’s GDP.