CIAC Welcomes Alberta Government’s Plan to Level the Investment Competitiveness Playing Field, Attracting Global-Scale Chemical Manufacturing Investments
October 30, 2020
The Chemistry Industry Association of Canada (CIAC) congratulates the Government of Alberta on launching the Alberta Petrochemical Incentive Program (APIP). Building on the strong chemical manufacturing focus within the recently unveiled Natural Gas Vision and Strategy, APIP will help level the investment competitiveness playing field and attract a surge of global-scale, multi-billion dollar investments in the province’s low-carbon natural gas-based petrochemical sector.
“The Alberta government has a bold vision for growth of Alberta’s chemical manufacturing sector,” said Bob Masterson, President and CEO, CIAC. “The Alberta Petrochemical Incentive Program levels the playing field with other jurisdictions competing for new investment and makes that vision of a top global chemicals producer possible. The opportunity for growth in this sector exists in the province and that is good news for jobs, new global-scale investment, and Alberta’s economy.”
The Alberta Government recognizes the importance and growth opportunity of a $12 billion sector that is Alberta’s largest manufacturing sector by exports and resource value-added. Alberta has an opportunity to diversify and build its economy on petrochemicals, a sector that has been resilient throughout the COVID-19 pandemic and is poised to see sustained demand continue for the foreseeable future. CIAC looks forward to working with the Alberta Government to attract new investment to the province.