Alberta believes a supportive environment for business, research and innovation is important to ensuring stable economic growth and success.
In addition to its world-class infrastructure, Alberta has the lowest overall taxes in Canada and a highly skilled, educated, and productive workforce. It’s a great place to live and do business!
The province’s bioindustry has access to a wide range of financial resources through government initiatives. These include capital and business development programs, granting agencies, business incubators and tax benefits that can help your company with every level of development.
We have one of the most competitive tax systems in North America:
- Lowest overall personal tax burden
- Competitive corporate taxes
- Lowest fuel taxes among provinces
- No capital tax
- No payroll tax
- No health premiums
- No provincial sales tax
Funders of research and innovation
- Prairies Economic Development Canada (PrairiesCan) (formerly WD)
- Jobs and Growth Fund - PrairiesCan is the department that diversifies the economy across the Canadian Prairies. The Jobs and Growth Fund provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.
- Business Scale-up and Productivity - PrairiesCan makes strategic investments in key economic sectors and also supports the development of leading industry geographic clusters through its Business Scale-up and Productivity (BSP) program.
- Mitacs - Mitacs powers research and development by connecting industry with the best post-secondary institutions to solve business challenges. (Must be working on applied research with a post-secondary institution).
Numerous other sources of funding fuel research, development and commercialization in Alberta to attract and strengthen venture capital investments in the province.
- NRCan’s Clean Fuels Fund – closes Sept 29, 2021
- investment of $1.5 billion over five years
- stream for building new domestic production capacity is accepting proposals
- program will provide up to 30% of project costs, up to a maximum of $150M per project
- the contribution is repayable (like an interest free loan) once the project starts generating a GAAP profit
- AAFC’s Agricultural Clean Technology (ACT) Program
- The ACT Program aims to create an enabling environment for the development and adoption of clean technology that will help drive the changes required to achieve a low-carbon economy and promote sustainable growth in Canada’s agriculture and agri-food sector.
- Research and Innovation Stream - will support pre-market innovation, including research, development, demonstration and commercialization activities, to develop transformative clean technologies and enable the expansion of current technologies, in 3 priority areas: green energy and energy efficiency, precision agriculture, and bioeconomy.
- Adoption Stream - will support the purchase and installation of commercially available clean technologies and processes with a priority given to those that show evidence of reducing greenhouse gas (GHG) emissions, and other environmental co-benefits.