Investing in Infrastructure
Under the Recovery Plan, Alberta will be making its largest ever investment in the province's infrastructure. In 2020, $10 billion will be spent on projects throughout the province, creating 50,000 jobs. Other highlights of the plan include:
- A series of large-scale infrastructure projects will be launched this summer, worth $612 million. Projects include the twinning of highways, supporting growth in the agricultural sector and gas line extensions for northern residents.
- Further funding will be provided to municipalities through the Strategic Transportation Infrastructure Program (STIP) to fund bridge improvements, upgrades to roads and community airports and other initiatives.
- An additional $150 million is being spent on water infrastructure grants through the Alberta Municipal Water/Wastewater Partnership (AMWWP) and Water for Life to support 55 water and wastewater improvement projects.
- $500 million has been identified in further funding for municipalities. The Alberta Government expects this funding to be matched by the federal government.
The Alberta Government says it is developing a plan to use the Canada Infrastructure Bank (CIB) to help rebuild the province and diversify its economy, with a particular view to growing key economic sectors like tourism, agriculture and energy.
Diversifying the Economy
Alberta's Recovery Plan will focus on sector strategies for diversifying the economy in energy, agriculture, technology, tourism and other high-opportunity areas. The details of these sector strategies will be announced this summer and fall.
In the energy sector, actions announced in the Recovery Plan include:
- finalizing a new value-added natural gas strategy and petrochemical program focused on emerging opportunities;
- positioning Alberta among the world's top suppliers of low-emission and affordable blue hydrogen;
- developing a new mineral strategy and increasing investment interest in new emerging areas such as geothermal energy; and
- establishing a task force to work with industry and other orders of government on advancing the goal of national and regional energy and resource corridors.
The Recovery Plan's focus in agriculture includes attracting investment, expanding export opportunities and expanding irrigation infrastructure to increase primary production.
