Building a strong economy in Fort Macleod
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Summary
STS has been an anchor of the local business community for decades, and today we are pleased to announce nearly $1 million from Alberta s Investment and Growth Fund, known as the IGF, to help STS expand their operations by opening a fourth facility in Fort McLeod.
Transcript
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On behalf of Premier Smith, it's great to join you and the team from Structural Trust
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for this exciting announcement. As you all know, Structural Trust, or STS, has been an anchor of
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the local business community for decades. And today, I am pleased to announce nearly $1 million
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from Alberta's Investment and Growth Fund, known as the IGF, to help STS expand their operations
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by opening a fourth facility in Fort McLeod. STS will start construction on this latest facility
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almost immediately, creating jobs while growing and diversifying the local and provincial economy.
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As the minister in charge of jobs, economy and trade, I look forward to our continued partnership.
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The IGF funds that are being provided to STS will help them expand their business as they invest
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$28.5 million into a new facility that will create 33 permanent jobs for Albertans and 12 temporary.
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The IGF support also demonstrates our government's commitment to economic growth,
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because investment anywhere in Alberta benefits all Albertans. In fact, for every $1 million in IGF
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grants awarded, about $70 million is expected to be spent in the province, contributing to Alberta's
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overall prosperity. And to ensure areas outside of our major city centres continue to attract investment,
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Alberta's government added a rural stream to the IGF in 2022. This stream has already supported
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projects in Medicine Hat, Stony Plain and Lethbridge County, and we are very excited to add Fort McLeod
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to that list. The IGF is just one example of why companies feel confident about investing in our
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province. Our government's programs and policies have created an investment and business-friendly
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environment. At 8%, Alberta has the lowest corporate tax rate in Canada, and we have among the lowest
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combined rates in North America. Our province also has a highly educated workforce, a world-class
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education system, and a thriving research and development pipeline. We continue to remove barriers
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for workers and attract talent to our province in high-demand areas, including skilled trades.
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And our government's efforts to cut red tape, modernize regulations, and reduce administrative burdens
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have already saved Albertans and our businesses nearly $3 billion since 2019.
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That leaves businesses and investors to focus on what they do best, creating jobs and opportunities
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and growing our economy. So Alberta's government is proud to work with STS on expanding their
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operations in Fort McLeod to the benefit of the local economy and Albertans alike. And I look forward
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to STS's upcoming milestones, starting construction, the new facility being completed, and then becoming
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fully operational. With Alberta's people and resources behind them, I know STS has everything they need
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to grow their business, broaden their reach, and continue to thrive in our great province. Thank you.