Building a strong economy in Fort Macleod
Episode Stats
Words per minute
164.01733
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
00:00:00.000
On behalf of Premier Smith, it's great to join you and the team from Structural Trust
00:00:04.540
for this exciting announcement. As you all know, Structural Trust, or STS, has been an anchor of
00:00:10.540
the local business community for decades. And today, I am pleased to announce nearly $1 million
00:00:15.280
from Alberta's Investment and Growth Fund, known as the IGF, to help STS expand their operations
00:00:21.320
by opening a fourth facility in Fort McLeod. STS will start construction on this latest facility
00:00:27.460
almost immediately, creating jobs while growing and diversifying the local and provincial economy.
00:00:33.840
As the minister in charge of jobs, economy and trade, I look forward to our continued partnership.
00:00:39.480
The IGF funds that are being provided to STS will help them expand their business as they invest
00:00:44.060
$28.5 million into a new facility that will create 33 permanent jobs for Albertans and 12 temporary.
00:00:51.560
The IGF support also demonstrates our government's commitment to economic growth,
00:00:55.940
because investment anywhere in Alberta benefits all Albertans. In fact, for every $1 million in IGF
00:01:02.300
grants awarded, about $70 million is expected to be spent in the province, contributing to Alberta's
00:01:08.940
overall prosperity. And to ensure areas outside of our major city centres continue to attract investment,
00:01:15.520
Alberta's government added a rural stream to the IGF in 2022. This stream has already supported
00:01:21.620
projects in Medicine Hat, Stony Plain and Lethbridge County, and we are very excited to add Fort McLeod
00:01:27.780
to that list. The IGF is just one example of why companies feel confident about investing in our
00:01:34.440
province. Our government's programs and policies have created an investment and business-friendly
00:01:39.860
environment. At 8%, Alberta has the lowest corporate tax rate in Canada, and we have among the lowest
00:01:46.780
combined rates in North America. Our province also has a highly educated workforce, a world-class
00:01:52.760
education system, and a thriving research and development pipeline. We continue to remove barriers
00:01:57.920
for workers and attract talent to our province in high-demand areas, including skilled trades.
00:02:04.160
And our government's efforts to cut red tape, modernize regulations, and reduce administrative burdens
00:02:08.780
have already saved Albertans and our businesses nearly $3 billion since 2019.
00:02:13.140
That leaves businesses and investors to focus on what they do best, creating jobs and opportunities
00:02:18.740
and growing our economy. So Alberta's government is proud to work with STS on expanding their
00:02:24.120
operations in Fort McLeod to the benefit of the local economy and Albertans alike. And I look forward
00:02:29.200
to STS's upcoming milestones, starting construction, the new facility being completed, and then becoming
00:02:35.380
fully operational. With Alberta's people and resources behind them, I know STS has everything they need
00:02:41.260
to grow their business, broaden their reach, and continue to thrive in our great province. Thank you.