The new Alberta Investor Tax Credit (AITC) will encourage investment in small- and medium-sized businesses in non-traditional sectors, support economic diversification and create new jobs, the Alberta government said Monday.
The AITC, which was unveiled in the province’s budget last week, will provide a 30% tax credit to investors who provide capital to companies in the tech sector.
The provincial government expects the AITC to produce $90 million in savings to eligible investors over two years.
At the same time, the flow of capital into the tech sector will help stoke growth and create jobs, the government says.
“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, says in a statement.
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