Highlights of the Alberta Economy 2011 Alberta Finance and Enterprise Enterprise Division
Table of Contents • Economic Highlights – Growth – Economic prosperity – Attractive Investment Climate – Exports • A Diversified, Sustainable and Resource-based Economy – Energy – Environment – Agriculture – Forestry – Manufacturing – Advanced Technology (Broadband Usage) – Financial Services – Tourism
Table of Contents (cont.) • Doing Business in Alberta – Competitiveness – Entrepreneurship – Research and Development – Government – Competitive Corporate Taxes – Provincial and State Corporate Taxes – Educated Work Force
Table of Contents (cont.) • Working in Alberta – Strong Labour Market – Low Personal Taxes – Family Income – Standard of living • Living in Alberta – People – Education – Health Care – Arts and Culture – Donations and Volunteerism • Alberta Online Resources
Alberta: The Best Place to Live, Work and Do Business
Economic Highlights Growth Growth In Selected Indicators: 2000 - 2010 Per cent Change 23.9 Population 11.2 Alberta Canada 27.4 Employment 16.0 27.7 GDP 20.4 40.6 Goods Exports -3.2 88.0 Investment 73.4 Source: Statistics Canada and Alberta Finance and Enterprise
Economic Highlights Please spell out the below abbreviations: Transportation & Utilities Economic Prosperity Business & Commercial Services Tourism & Consumer Services Retail & Wholesale Public Administration Economic Diversity: 1985 Economic Diversity: 2009 Percentage Distribution of GDP Percentage Distribution of GDP Total GDP: $66.8 Billion Total GDP: $247.2 Billion Construction 6.7% Construction Agriculture 10.6% 3.0% Energy Health Energy Agriculture 36.1% 3.6% 23.4% 1.4% Manufacturing Health Education 6.5% 4.9% 3.6% Transp. & Util Public Admin. Education 7.2% 4.8% 3.7% Manufacturing Public Admin. Ret. & Whls 6.0% 4.0% Bus. & Comm. 8.1% Transp. & Util Services Ret. & Whls Tourism & Cons. 7.7% 9.6% 9.0% Serv. Bus. & Comm. Finance & Real 3.8% Services Tourism & Cons. Finance & Real Estate 5.5% Serv. Estate 11.0% 5.2% 14.6% Sources: Statistics Canada and Alberta Finance and Enterprise
Economic Highlights Attractive Investment Climate Per Capita Investment (2010) Alberta $18,930 Saskatchewan $15,161 $12,847 Newfoundland & Labrador $9,911 Canada $9,815 British Columbia $8,660 Manitoba $8,267 Ontario $8,112 Quebec $7,757 New Brunswick $7,243 Nova Scotia $6,732 Prince Edward Island Source: Statistics Canada
Economic Highlights Exports Alberta’s Major Exports 2010* Total Exports of Goods ($77.8 Billion) Crude Petroleum 38.8 13.7 Gas and Gas Liquids Petrochemicals 6.2 5.1 Metals & Machinery 3.3 Crops & Livestock 2.3 Forestry Products 2.1 Processed Food & Beverages Refined Petroleum Products 1.4 $ Billions 1.3 Sulphur & Coal 0.9 Electronic & Electrical Products 2.6 Others * Exports of services are not included in this estimate Sources: Statistics Canada and Alberta Finance and Enterprise
A Diversified and Resource-based Economy Energy Alberta’s Energy Revenues 2010 Alberta’s Energy Exports 2010 Total: $73.2 Billion Total: $53.9 Billion Natural Natural Coal and Gas & Gas Coal and Gas & Gas Sulpur Liquids Sulphur Liquids 1.5% 25.4% 2.4% 32.5% Crude Oil Crude Oil 65.9% 72.1% Sources: Statistics Canada, Energy Resources Conservation Board, Alberta Finance and Enterprise
Diversified and Resource-based Economy Oil Sands and the Environment Alberta’s oil sands account for about five per cent of Canada’s overall greenhouse gas (GHG) and Canada is responsible for about two per cent of global emissions. Large industrial emitters of GHGs per year must meet mandatory reduction targets, purchase Alberta offset carbon credits or pay $15 per tonne into a clean energy technology fund. Air quality is monitored 24 hours a day, 365 days a year across the province and is rated good in the oil sands region – the highest quality. The Alberta Government has committed $2 billion (CDN) to commercial scale carbon capture and storage projects.
A Diversified and Resource-based Economy Agriculture Alberta’s Major Agricultural Products 2010 Farm Cash Receipts ($ Billions) Total: $8.98 Billion 3.07 Beef Cattle Other Receipts* 2.04 Canola & Flax 1.71 Wheat (incl. Durum) 1.13 Dairy 0.48 Hogs 0.37 Oats, Rye & Barley 0.19 *Includes specialty cash crops, honey, poultry, eggs, program payments, etc. Source: Statistics Canada
A Diversified and Resource-based Economy Forestry Shipments of forest products reached $4.0 billion in 2010, and exports were $2.3 billion*. Alberta covers over 66 million hectares of land, 58% or 38 million hectares of which is forested. Of the forested area, about 60 per cent or 22.5 million hectares are considered suitable for harvest. Alberta's commercially productive timber land base of 26.1 million hectares covers 40 per cent of Alberta's total area and includes in excess of 2.2 billion m 3 of growing stock. Annually, Alberta allows 29.7 million cubic meters (m 3 ) to be harvested, of which 18.4 million m 3 is coniferous, and 11.3 million m 3 is deciduous. * Includes wood products and pulp & paper
A Diversified and Resource-based Economy Manufacturing Value of Alberta Manufacturing Shipments 2010 Total: $60.1 Billion Refined Petroleum 14.7 Food 10.7 Chemical Products 10.5 Machinery 6.2 Fabricated Metals 4.4 *Forest Products 4.0 Construction Materials 2.0 Plastics 1.4 $ Billions Furniture and Fixtures 0.8 Electronic Products 0.4 Other Manufacturing* 4.9 *Includes wood and pulp & paper industries Source: Statistics Canada
A Diversified and Resource-based Economy Advanced Technology Broadband Usage Korea 96 Norway 78 Broadband Usage– International 2009 Canada 72 Percentage of House holds Germany 65 Accessing the Internet by Broadband Japan 60 France 57 British Columbia 81 Italy Alberta 39 79 Ontario 74 Canada 72 Manitoba 71 Broadband Usage– Canada 2009 Nova Scotia 70 Percentage of House holds Prince Edward Island 70 Accessing the Internet by Broadband Saskatchewan 69 Newfoundland and Labrador 65 New Brunswick 65 Sources: Statistics Canada and OECD Quebec 64
A Diversified and Resource-based Economy Financial Services 26 Alberta 22 Quebec Financial Services Employment Growth 2002 - 2010 21 Ontario Percentage increase in Employment 20 Canada 17 BC 58 Alberta 38 BC 31 Canada Financial Services GDP Growth 2002– 2010 Percentage increase in GDP 27 Ontario 27 Quebec
A Diversified and Resource-based Economy Tourism Alberta Tourism Receipts by Visitor Overnight Tourism by Tourism Origin (2009) Destination Region (2009) Total : 40.4 Million Person Nights Total: $5.4 Billion Alberta Edmonton & 53% Alberta Area Central 22% 17% Alberta North 6% Canadian Unspecified Rockies Region 15% 3% Overseas 13% Alberta South 10% Other Canada 23% United States Calgary & Area 11% 27% Source: Statistics Canada and Alberta Tourism, Parks & Recreation
Doing Business in Alberta Competitiveness Business Sector Labour Productivity 2010 Real GDP per Hour Worked, in 2002 constant dollars $47.00 Alberta Newfoundland and $45.00 Labrador Saskatchewan $42.80 $38.20 Ontario Canada $38.20 $36.50 Quebec $34.20 British Columbia Manitoba $33.90 $29.80 New Brunswick Nova Scotia $28.60 $25.60 Prince Edward Island Source: Statistics Canada – GDP at basic prices
Doing Business in Alberta Entrepreneurship Small Business – Cornerstone of the Economy 2000 – 2010 Percentage Change in Small Business Establishments (Less than 50 Employees) 15.5% Alberta Ontario 14.0% British Columbia 9.3% Canada 6.3% Manitoba -0.4% -2.7% Quebec Newfoundland and Labrador -4.0% Nova Scotia -5.2% -8.2% Saskatchewan New Brunswick -9.2% -19.1% Prince Edward Island Source: Canadian Business Patterns, Statistics Canada
Doing Business in Alberta Research & Development Under the banner Alberta Innovates, the Alberta government created new organizations that focus Alberta’s provincial research efforts in the areas of agriculture, forestry, energy and environment, health, and technology commercialization. They Include: • Bio Solutions • Energy and Environment Solutions • Health Solutions • Technology Futures • Alberta Research and Innovation Authority
Doing Business in Alberta Government Provincial Net Financial Assets/Debt as a per cent of GDP (2010-2011) 9.6% Alberta Saskatchewan -6.4% -14.7% British Columbia Manitoba -23.1% Newfoundland & Labrador -28.6% New Brunswick -30.4% Prince Edward Island -33.3% -33.5% Ontario Canada -34.0% Nova Scotia -38.2% Quebec -49.4% Source: Conference Board of Canada
Doing Business in Alberta Competitive Corporate Taxes Comparison of Corporate Income Taxes United States 32.7% 6.5% 39.2%* February 2011 Alberta January 16.5% 10.0% 26.5 % 2011 15.0% 25.0 % 10.0% Alberta 2012 Federal Provincial / State *6.5% represents the average effective top general state corporate income tax rate U.S. rates known as of February 2011 Source: Alberta Finance and Enterprise, and Tax Foundation
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