EDMONTON — Alberta is poised to receive a massive economic boost.
Dow has announced it plans to build the world’s first net-zero carbon emissions ethylene and derivatives complex in the province. Premier Jason Kenney stated the multibillion-dollar facility would be the largest investment in Alberta in more than a decade.
“This is a huge win for job creation, economic growth and Alberta’s Economic Recovery Plan,” said Kenney in a statement. “If this project receives regulatory approval and a positive final investment decision, it will lead to a multibillion-dollar investment in our economy and huge job opportunities in both the construction and operating phases.”
The plans include building a 1.8-million-tonne per-year ethane cracker at Dow’s existing Fort Saskatchewan petrochemical complex near Edmonton and also increasing the facility’s ethylene and polyethylene production.
Kenney stated the global company has operations all over the world and its decision to build in Alberta signals efforts to attract investment are working.
“Dow’s decision to build the world’s first net-zero carbon emissions ethylene complex in Alberta is proof that our open for business policies have made us one of the most competitive places on Earth for this kind of major investment in cutting-edge technology,” said Kenney. “After years of declining investment in our province, we can now say that the Alberta advantage is back.”
Officials explained the province has been working with Dow since early 2019 to secure the project. Kenney said Alberta’s Job Create Tax Cut, which reduces employer taxes by a third, was critical in the decision.
“Today’s announcement is good news both for our traditional energy sector and for diversification,” said Kenney. “Major petrochemical projects like this create long-term additional demand for Alberta natural gas, which in turn will create jobs in the exploration and service sectors. At the same time, this expanded polyethylene and ethylene derivative plant will further diversify our economy and increase global exports. And with Dow’s commitment to net-zero production, this project will highlight Alberta’s growing reputation as a hub for low emissions industrial technology.”