Reasons to invest
Here are more reasons to invest in Alberta:
Economic Growth and Investment
- Alberta consistently has the highest investment per capita among provinces. In 2014, Alberta’s investment per capita was $22,340, more than triple the Canadian average of $7,453 per capita.
- For more information, see Alberta’s Economic Highlights
- In 2014, Alberta exported $121.4 billion in commodities to 195 countries, representing an increase of 17.9% from $ 2013.
- Alberta’s increase in exports in 2014 can be attributed mostly to higher crude volumes and a jump in natural gas prices.
- Alberta also exports an increasing amount and variety of manufactured products such as petrochemicals, food products, and metals and machinery.
- After declining sharply during the recent recession, manufacturing exports have recovered strongly since then, increasing by 35 per cent between 2009 and 2014.
- Alberta has the third largest petroleum reserves in the world, after Saudi Arabia and Venezuela, and the Alberta Energy Regulator forecasts that crude oil production from oil sands will increase 74% to 4.0 million barrels per day by 2024, up from 2.3 million barrels in 2014.
- Alberta has one of the world’s most productive agricultural economies, with a total farm area of 50.5 million acres or 20.4 million hectares used for crop and livestock production.
- In 2014, shipments of forest products totaled $5.4 billion, and exports were $2.7 billion.
- For more information regarding Alberta’s resource-based industries, such as agriculture, energy and forestry, see the following Government of Alberta websites:
A Diverse Economy
- Energy accounts for about one-quarter of the province’s Gross Domestic Product (GDP), down from 36% three decades ago.
- Other sectors have shown considerable growth over the past two decades. From 1985 to 2014 the following non-energy sectors grew strongly:
- Construction sector from 6.7 per cent share of GDP in 1985 to 10.8 per cent in 2014;
- Finance and real estate sector from 11.0 per cent to 13.5 per cent; and
- Business and commercial services sector from 5.5 per cent to 10.2 per cent.
- In 2014, the Alberta economy expanded by 4.4 per cent, the highest provincial growth rate. By comparison, the Canadian economy grew by 2.5 per cent in 2014. However, the recent oil price decline is negatively impacting the Alberta economy this year.
Competitive Tax Environment
- Alberta offers one of the most competitive business tax environments in North America – no provincial retail sales tax (PST), provincial capital taxes, payroll taxes or machinery and equipment taxes.
- Find out more about Alberta’s Competitive Tax Environment
Commitment to Support Innovation
- Alberta Innovates is a system of government agencies committed to working with industry to support new technology development, increase commercialization and develop new markets and opportunities.
- Alberta’s key advanced technology sectors include:
- Alberta is strategically located with its central position in the growing western Canadian market of ten million people
- Alberta is the only western province that offers overnight, or less than 24-hour delivery service to all of western Canada and the U.S. Pacific Northwest - a market of more than 50 million consumers.
- Alberta’s world-class infrastructure supports business development and growth. Alberta has:
A Diverse, Skilled and Educated Workforce
- One in six Albertans was born outside of Canada, making Alberta one of the most multi-national and multi-cultural provinces in the country.
- As of July 1st, 2015, Alberta’s population reached 4,196,457 a 1.8% increase from a year earlier.
- In 2014, 64.9% of the labour force aged twenty-five years and older reported holding a university degree or post-secondary diploma or certificate.
- Learn more about Alberta's strong labour force
Date Updated: Wed, 16 Mar 2016 02:31:02