Alberta is one of the most attractive places to invest in Canada and North America. The province leads the Canadian average growth over the past decade in GDP, employment, exports, and investment. Alberta’s diverse economy, growing population, and positive business environment make it an attractive investment location.
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.
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.
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.
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:
Advanced materials and nanotechnology
Information and communication technologies (ICT)
Aerospace and defense
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:
Advanced technology and communications networks
Extensive transportation networks
Quality education and training facilities
Superior research and development
Competitively priced commercial and industrial real estate.
A Diverse, Skilled and Educated Workforce
One in six Albertans was born outside of Canada, making Alberta one of the most multinational 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 labor force aged twenty-five years and older reported holding a university degree or post-secondary diploma or certificate.
Shared from: Alberta Canada
Starting a new Business in Alberta?
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.
Why should I incorporate?
One of the most frequently asked questions by entrepreneurs starting a new business is: “Should I incorporate?” The answer to this question is usually: “That depends on your particular situation and your particular needs.” Among the factors to consider in making these decisions are the benefits of incorporating (versus operating the business as a sole proprietorship or partnership) and the implications that incorporation may have for the business.
Benefits of incorporating a new company in Alberta
Separate legal entity
Lower corporate tax rates
Greater access to capital