June 30, 2020
Alberta Announces $10-Billion Infrastructure Investment
Yesterday, the Province of Alberta launched their COVID-19 Recovery Plan
focused on protecting Albertans, creating private sector jobs, building core infrastructure and diversifying the economy.
The plan contains a 40 per cent increase in their previous infrastructure investment, bringing the total to $10 billion. The focus will be on building hospitals, schools, roads, bridges and overpasses.
The overall plan is expected to create more than 50,000 jobs and will represent the largest infrastructure investment in the province’s history, Premier Jason Kenney
This summer, Alberta is planning to launch a series of large infrastructure projects including the twinning of highways, projects that support growth in the agricultural sector, gas line extensions for northern residents, treatment facilities for Albertans recovering from addictions, and other important initiatives.
In addition to new spending, Alberta is speeding up the implementation of corporate tax cuts and red tape reduction. The general business tax rate has been reduced from 10 per cent to 8 per cent effective July 1. The government has further committed to cutting the number of regulatory requirements by at least one-third. To date, 200 red tape reductions have been implemented.
CCPPP welcomes this significant infrastructure investment by the Government of Alberta.