Alberta is providing $500 million in incentives to encourage petrochemical projects in Alberta. Pembina sees these types of incentives as crucial to keep investment in Alberta and not south of the border.
Ultimately these petrochemical projects will provide jobs for upwards of 240 people in Alberta. Given all the negativity it is refreshing to see the government make real efforts to help the province. The government is providing $ 500 million in incentives to two planned petrochemical projects, paid for three years after they begin operations.
In return, they will create more than 240 full-time jobs, along with several thousand temporary jobs and indirect jobs. Different companies are investing 5 billion dollars in Alberta which translates into jobs for men and women of this locality.
This program is based on the selection of companies that will receive 500 million dollars in royalties from the province in exchange for building two petrochemical plants. Both projects to develop the petrochemical industry in Alberta would create some 3,700 to 4,200 jobs during the primary phase of construction. It means that traders and skilled workers such as welders will have bread to take home after a sharp recession Economic development.
These two initiatives carried out by Pembina Pipeline Corp, and Inter Pipeline will become the first industries to produce polypropylene in Canada. Also, the production costs in the province are small compared to those of other localities, so the proposal is interesting and attractive for these investors.
Thanks to low-priced propane gas, these petrochemical developments have a lot of future in Alberta.
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