Government Announces Alberta Petrochemicals Incentive Program
ALBERTA PETROCHEMICALS INCENTIVE PROGRAM WILL
ENHANCE ABILITY TO ATTRACT LARGE SCALE PETROCHEMICAL PROJECTS
The Government of Alberta today announced the Alberta Petrochemicals Incentive Program (APIP), designed to attract value-add petrochemical investments and encourage continued growth in the advanced chemical manufacturing sector.
“The Alberta Petrochemicals Incentive Program, as announced today, will have a significant impact on enhancing the competitiveness of Alberta when attracting large scale, value-add investments, relative to other global jurisdictions,” said Mark Plamondon, Executive Director of Alberta’s Industrial Heartland Association. “This program, coupled with the other tremendous competitive advantages that Alberta’s Industrial Heartland has to offer, will contribute to the attraction of an expected $30 billion in new petrochemical investments by 2030.”
With cost-advantaged natural resources, a diverse and skilled workforce, and world class infrastructure, including world-leading carbon capture and storage infrastructure, Alberta’s Industrial Heartland is well-positioned to leverage the new Alberta Petrochemicals Incentive Program and we believe it will help attract formidable investment to our region.
With more than 95% of the world’s manufactured products relying on chemistry and value-add manufacturing, Alberta’s Industrial Heartland is part of a global supply chain that produces more than 70,000 products that we use every day. Alberta is a shining example of how jurisdictions can stimulate the economy and demonstrate environmental leadership by recognizing the importance of lowering greenhouse gas emissions.