Alberta has unveiled a Recovery Plan for the province’s economic strategy that includes a a record $10-billion investment in infrastructure and a plan for 50,000 jobs this year.

Following the initial economic devastation of the COVID-19 pandemic and the unprecedented crash in oil prices, the government of Alberta is stepping forward with a plan to address both the short-term and long-term challenges facing the province.

The investment is earmarked for construction projects such as schools, roads, overpasses, waterways, long-term-care homes, hospitals and bridges.

The corporate tax will also be dropped from 10 per cent to eight per cent by the beginning of July, according to Alberta Premier Jason Kenney.

The government will launch a series of large-scale infrastructure projects this summer at a total cost of $612 million. These projects are designed to create at least 2,500 jobs and the projects have been chosen to improve long-term economic growth and to encourage investment across the province.

“Albertans have risen to the challenge of the pandemic, though we will continue to be careful, especially for those who are most at risk. Now we must extend that same culture of resilience to overcoming the greatest economic challenge of our time. Today, we take a big step forward in that journey with the launch of Alberta’s Recovery Plan, a bold, ambitious long-term strategy to build our province, to diversify our economy, and to create jobs,” said Kenney.

Alberta’s Recovery Plan includes the many government relief programs that we have put in place to support Albertans and Alberta job creators through the COVID-19 pandemic. It also builds on strategic investments already underway, including the Keystone XL pipeline and $1 billion in accelerated Capital Maintenance and Renewal funding. The plan will continue under three main pillars: creating jobs, building infrastrtucture that will spur ecnomic growth, and continuing to diversify the economy.