The Chemistry Industry Association of Canada (CIAC) is forecasting that Canada’s industrial chemical sector will experience a big increase in capital expenditures in 2015. This also means that there will be a larger demand for commodities like valves. CIAC members project their capital investments will jump by 30 percent, to $3.4 billion, in 2015.
“After a decade of very limited expansion in Canada, our members have started to invest once again,” says Richard Paton, CIAC’s President and CEO. “More importantly, there is the potential for much more to come to Canada over the next decade, if we are successful in creating the right investment conditions, especially for the big projects.”
The chemistry industry is taking advantage of the attractive fiscal policy environment in Canada, which includes a competitive corporate tax rate and the temporary accelerated capital cost allowance.