Alberta's Economy
The Province of Alberta in western Canada enjoys a strong, growing economy founded upon a positive business climate and diverse economic sectors.
Alberta's Advantage
The Alberta government is very much pro-business and has worked hard to make Alberta the most attractive province to do business in. Alberta boasts the following:
- Canada's highest educated work force
- Entrepreneurial spirit
- Highest level of privatization
- No Provincial Sales Tax (PST)
- Youngest work force in Canada
Despite the global economic cool-down, Alberta is still expected to be the leading province in Canada in terms of economic growth.
Alberta's Economic Sectors
Alberta's economy is built upon the following sectors:
Agriculture
- Alberta houses Canada's largest meat packing facilities.
- Alberta is Canada's largest producer of cattle and beef.
- Alberta is home to a rapidly growing food processing industry which now exceeds farming receipts.
- Alberta is Canada's second largest producer of wheat, oats, barley and rape seed.
Distribution
- Calgary has become the Distribution Centre for Western Canada. It is the national Headquarters for Canadian Pacific Railways (CPR).
- Alberta has seen significant growth in airport facilities and trucking lines.
- Alberta's distribution network services Northern Canada, British Columbia and most importantly large U.S. markets such as:
- Arizona
- California
- the Pacific Northwest
Alberta also distributes to smaller U.S. markets including Idaho and Montana.
Energy
- Alberta produces about 81 percent of Canada's natural gas, and about 67 percent of Canada's crude oil.
- In 2005, Alberta's manufacturing shipments of petrochemical and refined petroleum products reached CDN$25.9 billion.
Research & Development
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With Canada's most educated work force, research and development is a fast developing sector. Major opportunities exist for those who possess or obtain computer technology skills.
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The establishment of many research and development centres is a testament to Alberta's technological strength. The following are just a few of Alberta's research and development centres to date:
- Alberta Microelectronics Centre
- Alberta Microprocessing Centre
- Edmonton/Calgary Research Development Authorities
- Nortel Networks
- Sherritt Technologies
- Smart Technologies
- University of Alberta
- University of Calgary
- University of Lethbridge
Tourism
- Tourism pumped CDN$5.3 billion in revenues into the Alberta economy in 2005.
- In Canada's Rocky Mountains, Alberta's mountain parks - notably Banff, Jasper, and Waterton Lakes National Park- attract millions of visitors each year.
- There are also many other sites of natural, cultural and historical interest in Alberta that attract thousands of visitors annually.
- The cities of Calgary and Edmonton also attract large numbers of visitors as well as convention and seminar delegates.
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