The new Alberta Investor Tax Credit (AITC) will encourage investment in small and medium sized businesses in non-traditional sectors, diversifying Alberta’s economy and creating new jobs.
The AITC will offer a 30 per cent tax credit to investors who provide capital to Alberta companies in the information technology, clean technology, health technology, interactive digital media and game products, and post-production, visual effects and digital animation sectors.
“The Alberta Jobs Plan is all about creating jobs and diversifying the economy, and that’s exactly what the Alberta Investor Tax Credit does. In challenging times, more people look to start or grow their own business, and the government is taking action to give these Albertans the capital they need to succeed.”
Deron Bilous, Minister of Economic Development and Trade
The industries that will benefit from this tax credit often face challenges acquiring capital to develop their businesses. The AITC will provide investors strong incentives to channel capital to newer, non-traditional sectors that offer highly-skilled employment, like technology.
“Through The Alberta Jobs Plan, our government is taking action to encourage Albertans to invest in local small and medium-sized businesses that create employment opportunities for Albertans. Better access to capital will help local businesses expand, innovate, and create jobs – to benefit all Albertans.”
Joe Ceci, Minister of Treasury Board and Finance
“The Calgary Chamber of Commerce would like to commend the government for its leadership in establishing Alberta’s first investor tax credit program to help equity capital flow to small businesses in our province. Especially during this challenging economic period, this program will have real results, helping to create jobs and grow local Alberta companies.”
Adam Legge, President and CEO, Calgary Chamber of Commerce
The AITC will provide $90 million to eligible investors over two years. Applications will begin being accepted in January 2017.