Government promoting innovation in Alberta
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Alberta’s government says it is continuing to encourage research and development in the province with the Innovation Employment Grant program.
Government officials say more than $72 million in support was distributed to small and medium-size businesses by the end of September 2023 under the program, which rewards Alberta businesses that invest in research and development with grants worth up to 20 per cent of qualifying expenditures. The grants in turn, drive innovation, create jobs and contribute to the province’s economic growth, say government officials.
“Alberta’s government is pleased to continue supporting the Innovation Employment Grant, designed to support innovation, encourage research and development, and create jobs in our province,” says Nate Glubish, Minister of Technology and Innovation. “This grant is instrumental in providing businesses with the financial support to hire and retain top talent, fostering innovation and driving economic growth, and is yet another example of the Alberta Advantage.”
“I am pleased to see the impact of the Innovation Employment Grant program, which was a key recommendation from the Innovation Capital Working Group,” adds Adam Legge, president, Business Council of Alberta. “Alberta is the most entrepreneurial place in Canada, and incentives like this to support research and development will continue to position the province as a competitive place for companies and entrepreneurs to unleash their innovative potential.”
