Economic Prosperity
Alberta has always been known for its oil and gas. However, in more recent years the Alberta economy has diversified to include such sectors as construction, manufacturing, agriculture, finance and real estate, technology, business and communication services and much more, making it a diversified resource rich economy. Its total GDP in 2009 was $247.2 Billion.
Alberta’s total export of goods in 2010 was $77.8 Billion with Crude oil accounting for 72% of Alberta’s total energy export. Alberta’s oil sands account for about five per cent of Canada’s overall greenhouse gas and is considered to be the highest for air quality.
Alberta has competitive corporate taxes compared to the United States and also boasts one of the lowest provincial corporate taxes across Canada. It has a strong labor market with a low unemployment rate, quality education and a high standard of living. Alberta’s economic growth is set to lead the country in 2011 and 2012.
Growth
Alberta’s growth over the last ten years has been steady and strong and leading Canada’s average. It has thrived especially in population, employment, GDP, exports and investments. All crucial elements to a strong economy.
Alberta is a great place to do business and work. It ranked the highest in 2009 for labor productivity and had the largest percentage change in entrepreneurship of small businesses over the last ten years. Its average family income is one of the highest in Canada and it has the highest asset-debt ratio at 10.3% – the only province in a positive range. All this while boasting the lowest taxes.
Attractive Investment Climate
The confidence level of Canadian’s investing in Alberta is strong. Alberta leads the country’s per capita investment in 2010 at $18,930.
Over the past several decades, history has shown that the price of Real Estate always goes up over time.
Real Estate has always proven itself to be a very lucrative investment in Alberta. At the end of September 2009, commercial and residential sales for Alberta totaled more than $17 billion. The real estate industry is a vital contributor to Alberta’s continuing economic strength.
Sources:
Canadian Real Estate Association
Government of Alberta
Contact us now for a one on one conversation about how you can take advantage of the Alberta economy.
When I met Candice and the Homerun Team 18 months ago, I couldn’t see a way to retire without accumulating an enormous capital pool, as I had no company pension. However, by following a few of the Homerun strategies, and investing with Candice, I was able to retire in June 2010 at age 53.