Doing Business in Alberta

  • In 2017, Alberta’s business sector had the third highest labour productivity level in the country (behind Newfoundland and Saskatchewan). The total value added per hour worked in Alberta exceeded the Canadian average by about 39 per cent.
  • Alberta’s productivity advantage over other Canadian provinces is substantial; however its rate of productivity growth had been slow for many years. This low productivity growth rate was due to changes in the nature and composition of Alberta’s energy output. In more recent years Alberta’s productivity performance had improved because of a productivity resurgence in the energy sector, but weakened during the recent recession.
  • Although Alberta’s short-term economic growth prospects have weakened because of low energy prices, Alberta’s long-term economic growth prospects remain solid. Continued long-term economic growth depends on increased productivity growth in order to optimize the economic benefits from energy investment in Alberta, and to encourage higher value added activity and industrial diversification.

Doing Business in Alberta Entrepreneurship

  • Alberta’s dynamic and innovative business climate is evident by the growth in the number of small businesses.
  • Although small businesses in Alberta have been hit hard by the recent recession, the number of employees in small businesses still grew by 10.7 per cent this decade (between 2010 and 2017), higher than Canada’s 9.3 per cent increase.
  • According to Statistics Canada small firms with 0 to 50 employees account for about 28 percent of Alberta’s GDP.
  • Alberta’s small business corporate income tax rate fell to two per cent in 2017, and the small business income threshold is $500,000.
  • Since it launched in 2009, the Innovation Voucher program awarded nearly $40 million to almost 1,100 projects by small technology and knowledge-driven businesses across Alberta.
  • The Government of Alberta has invested $100 million to attract more venture capital to Alberta to grow early-stage technology companies.

Doing Business in Alberta Research, Innovation & Commercialization

  • The Alberta government’s research and development expenditures are the highest in Canada, on a per capita basis, partially thanks to annual draws on two research endowment funds valued at over $2 billion.
  • Alberta has an established competitive funding program for Alberta’s post secondary institutions that supports the acquisition of research equipment to build research capacity. Since 2001, the program’s investment of $287 million has leveraged $926 million more in other funding.
  • Alberta is at the forefront of key research areas, such as biorefining and biocomposite materials, nanotechnology, machine learning and data analysis, cleaner energy production and alternative energy, cardiovascular health, brain health, diabetes, biomedical technologies, and infectious diseases.
  • Alberta’s provincial Scientific Research and Experimental Development tax credit is worth 10 percent of a company’s eligible expenditures up to $4 million, for a maximum credit of $400,000.

Doing Business in Alberta Research, Innovation & Commercialization

  • Alberta Innovates, a provincial corporation, drives Alberta’s provincial research and innovation efforts in key areas, building on Alberta’s strengths in health, environment, energy, food, forestry/fibre, and emerging technology.
  • It takes a more focused and integrated approach to meeting the needs of innovators and researchers by having businesses, government and academia collaborate and gain access to world renowned experts and one-of-a-kind infrastructure and equipment to solve problems.
  • Collectively, Alberta Innovates and Alberta’s post-secondary institutions have attracted some of the world’s largest and most successful corporations and researchers to partner with Alberta.
  • InnoTech Alberta Inc., a subsidiary of Alberta Innovates, provides applied research services, including testing new technology on province-wide scale to industry and government.

Doing Business in Alberta Government

  • The Alberta government is committed to free enterprise, sustainable economic development, a competitive tax environment and strong infrastructure.
  • Alberta’s strong fiscal position, minimal debt, and savings built from past surpluses will assist the government in dealing with the current economic and fiscal challenges posed by weak oil and gas prices.
  • As of December 31, 2018, Alberta’s Heritage Savings Trust Fund (long-term savings) was valued at $17.6 billion.

Doing Business in Alberta Competitive Corporate Taxes

  • Alberta has one of the most competitive business tax environments in North America.
  • The combined federal/provincial corporate income tax rate in Alberta is 27 per cent.
  • The Government of Alberta’s general corporate income tax rate is 12 percent and the Government of Canada rate is 15 percent.
  • The combined federal/provincial corporate income tax rate for small businesses in Alberta is 12 percent. The low income tax rates combined with no provincial capital taxes or taxes on financial institutions, no payroll taxes, no sales tax, and a publicly funded health-care system makes Alberta’s tax environment very competitive.

Doing Business in Alberta Educated Workforce

  • Alberta’s labour force consists of 2.5 million workers.
  • In 2018, 69.5 per cent of the labour force 25 years of age and older reported holding a university degree, post-secondary diploma or certificate.
  • In 2017, there were more than 50,600 registered apprentices training at approximately 13,300 employer sites around Alberta.
  • Alberta’s apprenticeship and industry training system is second to none, training 20 percent of Canada’s apprentices, despite having only 13 per cent of its labour force.

Alberta Incorporation & Business Registration Services

Business Corporations are incorporated in Alberta, according to the provisions of the Alberta Business Corporation Act with the Alberta Corporations Division. Company Formations Canada provides fast and easy Alberta Incorporation Service and provides all the documents your new Alberta corporation will need to stay up-to-date and in compliance with the Alberta Business Corporation Act.

Alberta Incorporation Service for Canadian Residents

Alberta Extra provincial Registration Service for Domestic Corporations

Alberta Extra-Provincial Registration for Foreign Companies

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