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Alberta 2020 Budget Released

On Thursday, February 27th the Alberta 2020 budget was released. It was coined the ‘Blueprint for Jobs’ and maintains the Alberta Government’s plan of balancing the budget by 2022. Here’s how it could impact your business:

Business Development

  • Finalizing the findings of the minimum wage expert panel to restore fairness to Alberta’s current minimum wage policies.
  • Reviewing and amending labour legislation and regulation to ensure it supports the needs of job creators and enables a thriving economy while protecting worker rights.
  • Labour Market Programs will receive $15.9 to support Alberta employers and their employees to gain the skills they need to succeed in the workforce, including funding for the Canada-Alberta Job Grant.
  • Ensuring that recommendations from business leaders inform government red tape reduction initiatives
  • Creating Alberta Advantage Immigration Strategy places a renewed focus on attracting and supporting talented newcomers and job creating entrepreneurs to communities across Alberta.

Agriculture

  • AgriInsurance will receive $405.5 million
  • Canadian Agricultural Partnership will receive $42.3 million to support a profitable and innovative agriculture, agri-food and agri-based industry
  • Planing to collaborate with the public, Indigenous communities, and industry to build public and consumer trust in Alberta’s agriculture, food, and forest systems.
  • Planing to deliver agriculture and forestry education, knowledge transfer, and training programs and services to build and strengthen rural community capacity

Technology

  • Planing to work with the innovation and venture capital community to expand venture capital investment into Alberta technology companies
  • $75 million will be invested over three fiscal years for technology-based solutions for lead generation and marketing strategies.

Energy

  • Examining increasing the loan, and extending the repayment period, to the Orphan Well Association by up to $100 million to further the clean up of orphaned oil and gas wells in Alberta.
  • Technology Innovation and Emissions Reduction (TIER) system mitigates Climate Change through innovation and collaboration with large emitters
  • Advocating for natural gas and liquified natural gas to expand market opportunities, and implementing initiatives that support natural gas value chains,

Wrap around Services

  • Enabling municipalities to foster economic growth by ensuring they have the tools to do so, including facilitating pre-approved industrial zones
  • The Safety Codes Council is modernizing its website to provide greater access to safety codes information,
  • Supporting Municipal Assessment Review Boards
  • Improving Albertans’ access to registry services and other government services.
  • Commitment to funding the Child Advocacy Centre for Southeast Alberta and Lethbridge/Medicine Hat
  • $38.5 million to harnessing the power of civil society
  • Greater support through community grants, the Enhanced Capacity Advancement Program, assistance with board development, and building their capacity to grow economic contributions and respond to community needs.

To read the full budget documents click here.

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