News

AIH Receives Historic Funding in Government of Alberta Budget 2024

It was a historic day for Alberta’s Industrial Heartland regarding the Government of Alberta’s Budget 2024. These three mentions improve the competitiveness of our $45 billion region and illustrates how serious Alberta is to growing and supporting a low-carbon economy. AIH continues to gain international attention due to our competitive advantages and collaborative approach to regional economic development.

  • New Water Infrastructure

As the first Designated Industrial Zone (DIZ) in Alberta, spanning five municipalities, the budget allocated $32 million over three years to DIZ which will construct new water intakes and associated infrastructure in the Industrial Heartland.

  • Vinca Bridge Replacement

The Capital Plan forecasts $31 million over the next three years for the Vinca Bridge replacement, with $1 million to be spent in the 2024-25 fiscal year. The improvements in this road infrastructure will improve capacity for heavy haul capacity in the region.

  • Funding for Carbon Capture Programs

A total of $226 million is forecast to be available in the Technology Innovation and Emissions Reduction (TIER) Fund by the end of 2023-24 to fund the new Alberta Carbon Capture Incentive Program (ACCIP) in future years, and a further $167 million is allocated to ACCIP from the TIER Fund over the next three fiscal years (2024-25 to 2026-27). Complimented with the Alberta Carbon Trunk Line, this creates an abundant opportunity for companies to achieve their environmental goals in the Industrial Heartland.

Read the full budget here.