BuildForce Canada report highlights energy transition opportunities from projects in Alberta
September 12, 2023 | By Canadian ManufacturingPresented by:
CALGARY — The Resource Diversification Council (RDC) has released its Diversifying Alberta’s Energy Economy Report prepared by BuildForce Canada. The report examines the economic and employment impacts of the over $22B of proposed value-added projects by RDC members.
The projects considered in the Report primarily focus on decarbonization and the production of low-carbon fuels and polymers.
The Report identifies over $22B in proposed projects that will boost Alberta’s GDP by $100.5B, create 20,908 direct jobs (20,250 construction, 658 operational), and generate $31.6B in tax revenue over the next two decades. From 2025 to 2044, these projects will increase annual corporate tax revenue generated in Alberta by an average of 1.55 per cent.
“The Resource Diversification Council is committed to a prosperous Alberta, realizing full value from our energy resources,” said Stu Taylor, Board Chair of the RDC and Senior Vice-President and Corporate Development Officer of Pembina Pipeline. “We are pleased to see this Report highlight the significant economic contribution that our members’ various diversification projects can provide to Alberta’s energy transition.”
“Alberta is competing with a global market to attract investment for petrochemical and energy diversification projects and new projects will not be built in Alberta without an emphasis on decarbonization and skilled workforce development,” noted Evan Legate, Executive Director of the Resource Diversification Council. “Solutions to these policy challenges are possible through the collaboration of government, industry, post-secondary, and labour.”
“Our members support the expansion of the Alberta Petrochemical Incentive Program to include Carbon Capture Utilization & Storage projects, which would make Alberta the number one jurisdiction for our members to invest in, and we are committed to working with the Alberta government to enhance overall skilled labour availability and training,” continued Legate. “In addition, incremental improvements to the Alberta Petrochemical Incentive Program, such as expanding equipment eligibility and advancing investment support timelines, would also increase Alberta’s ability to continue to attract capital on the global stage.”
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