Northeast Alberta’s Agribusiness and Food Story
Economically stable, resilient and diversified, Alberta is a low-risk environment in which to do business. Investors in the agribusiness and food industries will find a transparent regulatory environment and close trade and cultural links to the Asia-Pacific region and the eastern trade corridor.
The toolkit has been developed by experienced regional and resource based business development experts who have created a repository of information designed to help prospective investment identify locations and implement strategies to initiate new and expanding business ventures in Agrifoods in Northeast Alberta.
With years of annual economic growth and AAA sovereign risk profile, Alberta is well positioned to continue growing. Despite the fact that it is home to only 8.6 per cent of Canada’s population, Alberta’s GDP accounts for more than 16 per cent of the country’s economy.
Agribusiness is recognised as a future wave of economic growth, where Alberta advantage meets local and global opportunity. To achieve globally competitive economies of scale within the industry, there is growing recognition of the need for international partnerships, industry consolidation and reconfiguration of supply chains.
Alberta has an excellent reputation for safe, sustainable and healthy foods, supported by a transparent food chain and highly effective regulation. Alberta’s ethnically and culturally diverse population also provides an ideal test market for new food concepts.
Alberta is home to a large export-oriented agricultural sector, with strong growth in food, beverage and commodity exports to other provinces and to Asia through our port neighbor British Columbia. This corridor to the Pacific Rim is well serviced by rail and other transportation modes. It is a stable and reliable long-term supplier of many Agrifood products.
Canada’s network of free trade agreements (FTAs) provides superior access to the fast-growing Asian region. Comprehensive agreements that reduce barriers to trade and investment have recently been negotiated with Japan, Korea, China and Trans-Pacific Partnership member countries, adding to Canada’s suite of existing FTAs. We also have access to the new trade agreements with the European Union and all of these access points create a market that can start locally and grow globally with an Agrifood business anchored in Northeast Alberta.
The Alberta Government is committed to ensuring the agribusiness and food sector is competitive. The Business Incubation Works in Alberta Kit and the Smart Growth Toolkit set out practical measures to build more competitive supply chains, provide the infrastructure needed to support growth, invest in research that drives productivity growth and open new local and overseas markets.
World-class R&D and innovation adoption
Alberta’s research institutions and companies are renowned for excellence in agriculture and food R&D. There are many opportunities for partnerships, particularly for investors with commercialization expertise, and local companies are willing to embrace new technologies and manufacturing processes to increase productivity. More information can be found at http://www.albertainnovates.ca