The province of Alberta is launching a new tax credit program for agricultural processing, with the intention of attracting investment in the growing sector, creating jobs and diversifying its economy.
The Alberta Agri-Processing Investment Tax Credit will be available to the agricultural industry by the spring, according to a news release from Alberta’s provincial government on Tuesday. The province said the new tax credit attempts to capitalize on growing global demand for processed and packaged food.
Food was the largest manufacturing industry in the province in 2021, the release said, accounting for 23.8 per cent of manufacturing sales during that year. Through the Alberta Agri-Processing Investment Tax Credit, the release said eligible companies that make a minimum capital investment of $10 million into agricultural processing will receive a 12 per cent non-refundable tax credit.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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