The Alberta provincial government is launching a new tax credit program in spring 2023 for the agri-processing industry, a Feb. 7 news release said.
“The new agri-processing tax credit will allow us to attract large-scale agri-food projects that will help grow our industry, increase opportunities for primary producers, create jobs and feed the world,” Nate Horner, Alberta minister of agriculture and irrigation, said in the release.
The government plans to introduce the tax credit as part of the 2023 provincial budget. The Alberta Agri-Processing Investment Tax Credit will be a 12 per cent non-refundable tax credit to support this growth and attract investment, the release said. To be eligible, corporations must make a minimum capital investment of $10 million in value-added agri-processing in Alberta.