Brazeau County welcomed Brian Jean, Minister of Jobs, Economy and Northern Development last week as he toured two facilities within Brazeau County’s Western Economic Corridor (WEC).
On Feb. 15, Minister Jean congratulated the County and WEC’s evolving industrial ecosystem in support of the decarbonization of Alberta’s oil and gas, forestry, and agricultural sectors through emerging technologies, catalyzing investment attraction and job creation throughout Alberta.
Officials say the Western Economic Corridor, led and established by Brazeau County council, leverages a robust low-tax, low-regulatory environment, excellent road and civil infrastructure network, and the pre-existing industrial base to attract significant investments, advancing economic growth in a manner conducive to both the environment and the economy. Officials say the initiative also facilitates strategic partnership opportunities between clean-tech investors and local industries as they strive to decarbonize operations, enhancing regional job creation.
Before the oil sands boom, officials say Brazeau County was Alberta’s leading petroleum producing region and it remains an integral part of the provincial economy. Full-scale implementation of the Western Economic Corridor is expected to support the longevity of Alberta’s oil and gas sector through decarbonizing technologies, advancing their commercialization and utilization throughout Alberta to benefit the conventional energy sector and broader economy.
Two landmark technologies are said to have helped establish the Western Economic Corridor and have received the attention of industry and government: Recover and Base Element Energy. Officials say Recover extracts valuable and reusable commodities from oil drilling waste to transform it into products at the top of the economic value chain. By extracting lost hydrocarbons, officials say studies commissioned by Recover indicate their operations are reducing greenhouse gas emissions by greater than 100 per cent with recovered fuel. Officials say one Recover facility is sequestering more CO2 emissions than the annual equivalent of nine million trees.
Base Element Energy aims to reduce greenhouse gas emissions from oil and gas waste management, officials point out. For example, they have partnered with Alberta-based company Solar Stream to reduce emissions from tank heating and emulsion treatment.
“The Western Economic Corridor embodies Alberta’s entrepreneurial, innovative spirit,” says Brian Jean. “I commend Brazeau County council for their vision in advancing this initiative and look forward to working with them to support the oil and gas sector and clean tech investments over the months and years to come. The Western Economic Corridor is a perfect example of the Renewed Alberta Advantage at work.”
“Brazeau County created a low tax, business-friendly environment and then they attracted the best of Alberta’s entrepreneurial, innovative spirit,” adds Jean. “Commitments to innovation and technological development are what will drive the industries and jobs of tomorrow.”
Bart Guyon, Reeve of Brazeau County states, “Brazeau County’s oil and gas sector is a pillar of Alberta’s economy, ensuring its longevity is paramount to our community and residents. The Western Economic Corridor initiative enhances the operations of our conventional energy sector and facilitates the innovations of tomorrow for the betterment of all Albertans.”
Stan Ross, President & CEO of Recover notes, “The Western Economic Corridor initiative supports Recover’s growth and development by facilitating vital industry partnerships and a low tax environment. I would encourage all provincial start-ups to consider Brazeau County as their home for operations and to leverage the Western Economic Corridor initiative; we look forward to amplifying the WEC’s profile.”
Officials say with already low tax rates, since 2015, Brazeau County council has offered 30 per cent tax rebates, while creating a low-tax, low-regulatory environment for its citizens. The County says it is focused on allowing entrepreneurs, start-ups, and established businesses to thrive and grow.
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