The program offers a 12 per cent non-refundable tax credit based on eligible capital expenditures to corporations investing $10 million or more to build or expand agri-processing facilities in the province.
“Alberta’s new Agri-processing Investment Tax Credit program is an incredible opportunity that will diversify our economy and help eligible corporations from across North America and the world expand their operations, save money and grow their agri-processing business here in Alberta.”
With a strong primary agriculture sector, competitive tax system and commitment to reducing economic barriers, Alberta is the ideal location for businesses looking to expand and thrive in the agri-processing sector.
Eligibility
To be eligible for the program, companies must be incorporated, registered or continued under Alberta’s Business Corporations Act, with the proposed investment plan having a minimum of $10 million in new capital expenditures.
The project must also be physically located in Alberta, be a new project or a significant expansion of an existing value-added agricultural processing facility, and project expenditures must directly support an eligible value-added agricultural activity.
Corporations with other provincial funding sources may also be eligible for the tax credit.
How to apply
Applicants must apply for conditional approval for the Agri-processing Investment Tax Credit program by filling an online application form and submitting a proposed investment plan and Class 4 engineering estimate.
For more information on the Agri-processing Investment Tax Credit program, interested parties can email [email protected].