Joined: 02 Mar 2009
Posts: 8236 votes: 3
Posted: Wed Mar 29, 2017 1:53 pm Post subject: Saskatchewan invites alberta companies to move
( a further sign of how much alberta has fallen since the price of oil dropped and the ndp took over , Saskatchewan is making a serious effort to woo oil companies to relocate from Calgary to sask )
Saskatchewan invites Alberta companies to move east
by Canadian Press
Posted Mar 29, 2017 12:11 pm MDT
Saskatchewan Premier Brad Wall talks to members of the media in Regina, Tuesday, March 7, 2017. Wall is heading to Iowa at the request of Prime Minister Justin Trudeau to promote Canada's trade relationship with the United States. THE CANADIAN PRESS/Jennifer Graham
Saskatchewan Premier Brad Wall is taking a turf war with Alberta to its economic heart, inviting energy companies based in Calgary to move their headquarters to his province.
In a letter to Whitecap Resources (TSX:WCP), Wall offers to subsidize relocation costs, trim taxes and royalties and help find space in unused government buildings if the oil and gas firm moves to Saskatchewan.
The letter, provided to The Canadian Press, says it may make sense for Whitecap Resources and other Calgary companies with oil and gas production in Saskatchewan to make a “co-operative joint move” to benefit from additional cost savings.
Wall cites reductions to corporate and personal income taxes promised in his recent provincial budget as further incentives, adding that his government has no intention of implementing a carbon tax, unlike Alberta’s.
Whitecap Resources CEO Grant Fagerheim says he’s taking the letter seriously but would only move if it would benefit his company’s shareholders.
The letter emerges in the wake of public bickering between Alberta Premier Rachel Notley and Wall over each other’s provincial budgets.
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