Minister of Economic Development, Trade and Tourism Tanya Fir. Finance Minister Travis Toews and Premier Jason Kenney announce the Innovation Employment Grant on Tuesday in Edmonton (Photo: Government of Alberta)

By Connor Gunn

Investing in Tech

Province announces grant to attract investment to Alberta’s tech sector

Jul 22, 2020 | 4:35 PM

Alberta’s government is introducing the Innovation Employment Grant (IEG).

This program is going to promote economic growth and job creation by supporting small and medium-sized businesses that invest in research and development (R&D).

Alberta Premier Jason Kenney made the announcement Wednesday and says job creation is vital in a pandemic.

“The Innovation Employment Grant will create good jobs in the critical technology and innovation sectors. Together with Alberta’s Job Creation Tax Cut, this will make Alberta the best place in Canada to start a tech firm.”

“More venture capital will also be available through the Alberta Enterprise Corporation. And, our Skills for Jobs Agenda, together with the start-up visa we are creating through the Alberta Immigration Program, will make our province a magnet for new tech start-ups.”

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The IEG will reward businesses that make investments into technology and innovation programs by providing a grant of up to 20 per cent of R&D spending.

Alberta job creators will have a competitive advantage at each stage in their development because of the IEG and a low general business tax rate.

This is just the latest of many steps of Alberta’s Recovery Plan.