Competitiveness – Province Wide
Alberta’s dynamic and innovative business climate is evident by the growth in the number of small businesses.
The number of employees in small businesses grew by 21 per cent between 2005 and 2015.
Alberta’s small business corporate income tax rate is three per cent, and the small business income threshold is $500,000.
Since it launched in 2009, the Innovation Voucher program awarded approximately $16.5 million to 690 projects by small technology and knowledge-driven businesses across Alberta.
The Government of Alberta has invested $100 million to attract more venture capital to Alberta to grow early-stage technology companies.
Small Business –Cornerstone of the Economy
Percentage Change in Employment in Small Business Establishments between 2005 and 2015 (Less than 50 Employees)
Research & Development
Alberta Innovates allows businesses, government and academia to collaborate and gain access to world renowned experts and one-of-a-kind infrastructure and equipment to solve complex problems.
The Alberta government’s R&D expenditures are among the highest in Canada, on a per capita basis, partially thanks to annual draws on two research endowment funds currently valued at over $2 billion.
Collectively, Alberta Innovates and Campus Alberta have attracted some of the world’s largest and most successful corporations and researchers to partner with Alberta.
Alberta is at the forefront of key research areas, such as biorefining and biocomposite materials, nanotechnology, cleaner energy production and alternative energy, cardiovascular health, brain health, diabetes, biomedical technologies, and infectious diseases.
Alberta’s provincial SR&ED tax credit is worth 10 per cent of a company’s eligible expenditures up to $4 million, for a maximum credit of $400,000.
Under the banner Alberta Innovates, the Alberta government created new organizations that focus Alberta’s provincial research efforts in the areas of agriculture, forestry, energy and environment, health, and technology commercialization. They Include:
- Bio Solutions
- Energy and Environment Solutions
- Health Solutions
- Technology Futures
- Alberta Research and Innovation Authority