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
- Alberta Enterprise Corporation - AEC targets venture capital firms which have demonstrated expertise in environmental, nano, life science and communication technologies. The $105-million Alberta Enterprise Fund is part of a provincial action plan to support technology companies in Alberta.
- AVAC Ltd. - AVAC Ltd. is an Alberta-based, private, not-for-profit company that invests in promising early-stage, value-added Alberta businesses in the agri-business, ICT, life sciences and industrial technology sectors.
Numerous other sources of funding fuel research, development and commercialization in Alberta to attract and strengthen venture capital investments in the province.
Two key incentives are:
- Alberta Investor Tax Credit (AITC): designed to encourage investment in non-traditional sectors with strong job-creation potential.
- Capital Investment Tax Credit (CITC): designed to encourage manufacturing, processing and tourism infrastructure companies to make capital investment in Alberta. This includes bioindustrial companies who make eligible investments.