Agriculture is Alberta’s oldest industry and continues to be a strong contributor to economic growth and diversification. In 2023, Alberta produced more potatoes than any other province in Canada. On an annual basis, potato production contributes more than $2 billion to Alberta’s economy. The Little Potato Company has qualified for Alberta’s Agri-Processing Investment Tax Credit program by building a new facility to produce ready-to-cook spuds.
To help further grow and diversify the agriculture industry, Alberta’s government introduced the Agri-Processing Investment Tax Credit program in spring 2023 and it is already attracting large-scale investment in value-added agricultural manufacturing. The Little Potato Company is building a new $39.5-million project in Nisku to double its processing capacity and produce more packaged potatoes with seasonings that can be quickly roasted, microwaved or grilled.
To be considered for the tax credit program, corporations must invest at least $10 million in a project to build or expand a value-added agri-processing facility in Alberta. The program offers a 12 per cent non-refundable tax credit for eligible capital expenditures. Through this program, Alberta’s government has given conditional approval for a tax credit to The Little Potato Company estimated at about $1.3 million.
The Little Potato Company’s new facility currently employs 224 Albertans. The 240,000-square-foot facility in Nisku will be able to process about 125 million pounds of potatoes, up from 65 million pounds at the former Edmonton location.
Alberta potato growers planted 80,100 acres in 2023, up from 73,080 acres in 2022.
The Little Potato Company will export up to 70 percent of the potato products they process to the United States, enhancing Alberta’s reputation as the third-largest agri-food exporter in Canada.
Photocredit: Angela Santiago, Linkedin.
