September 29, 2020 – Olds, Alberta – Agriculture and Agri-Food Canada
Alberta’s government is working to build value-added agriculture capacity and bolster economic activity with an aggressive private investment attraction target of $1.4 billion.
As part of Alberta’s Recovery Plan, this investment attraction initiative will create more than 2,000 jobs and get Albertans back to work in emerging sectors like hemp, agri-technology and value-added processing of grain, oilseed, plant protein and meat.
Olds College, with an investment of $200,000 from the governments of Canada and Alberta through the Canadian Agriculture Partnership (CAP), will partner with THRIVE’s Canada accelerator and startup program, which focuses on technology-driven solutions to support agriculture and food sectors. This builds on the Alberta government’s commitment of $1 million, made Sept. 21, to Olds College for its Smart Agriculture Applied Research program.
THRIVE will help strategically develop our agri-food system by providing guidance on high-value cluster opportunities, supporting startups, increasing Alberta’s exposure to Canadian and international companies, and strengthening supply chains with industry-supported technology. These supports will attract investment by demonstrating our commitment to fostering a competitive business environment.
Alberta’s government is also supporting new startups looking to enter the value-added industry by providing a single-window support for business and product, leveraging the new $15-million lending limit of the Agriculture Financial Services Corporation, investing $25 million in expanding the Agrivalue Processing Business Incubator in Leduc and by investing $0.7 million in fibre and plant based protein processing facilities in Vegreville.
Alberta’s government will also work to provide targeted trade services that will enhance the sector’s export abilities and expand access to international markets.
Alberta’s Recovery Plan is a bold, ambitious long-term strategy to build, diversify, and create tens of thousands of jobs now. By building schools, roads and other core infrastructure we are benefiting our communities. Alberta came together to save lives by flattening the curve and now we must do the same to save livelihoods, grow and thrive.