The program “is an incredible opportunity that will diversify our economy and help eligible corporations from across North America and the world expand their operations, save money and grow their agri-food processing business here in Alberta,” Horner said in an April 24 statement.
Applying for the APITC occurs in two stages.
The first is to apply for conditional approval.
Applicants are required to prepare and submit an investment plan and engineering estimate.
Once conditional approval is granted, successful applicants must submit a progress report every 180 days until the completion of the project.
The second step in the application process is to apply for the tax credit certificate.
This happens after the new or expanded facility is up and running.