Economy
Alberta has capitalized on strengths in agriculture, energy, forestry and industrial products to develop a diverse economy. As Canada's energy province, Alberta is home to more than 60 per cent of the country's conventional crude oil reserves and all of its heavy oil and oil sands reserves.
Other key industries include petrochemicals, agriculture and agri-food, forestry and wood products, tourism, information and communication technology, nanotechnology and microsystems, biotechnology and pharmaceuticals, and health technology and services.
Alberta is the only province in Canada with no provincial sales tax and our personal income tax is the lowest in Canada. This positive business climate attracts investment and allows Alberta businesses to compete successfully around the world.
Alberta’s economic advantages include:
- A young, skilled and productive workforce
- A strong commitment to innovation and knowledge-based industries
- A highly competitive business environment
- No provincial retail sales tax and the lowest personal tax rate in Canada
- A modern and efficient infrastructure
- An abundance of natural resources
- A financially responsible provincial government
Date Updated: Oct 26, 2010
RDP:1265
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