Edmonton’s business and industrial sectors benefit from a strong and stable economy, with the demonstrated resilience to withstand even uncertain global economic conditions.
Edmonton’s business fundamentals add up to a location at the hub of economic activity - now and in future. These include:
- a younger, motivated, skilled and experienced workforce
- access to natural resources
- connections to key North American and Asian markets through an outstanding transportation network
- a strong local and regional customer base
The Edmonton census metropolitan area (CMA) continues to demonstrate economic momentum according to the January 2013 CIBC World Markets Canadian Metropolitan Economic Activity Index because of:
- population and employment growth well above the national average
- high-quality full time employment opportunities
- unemployment rates in the 4.5% - 5% range
The 2011 Statistics Canada census indicated a 12.1% population increase from 2006-2011 for the Edmonton CMA – second highest in Canada and more than double the national average. Edmonton recorded a 2011 growth rate of 4.4% (Conference Board of Canada Metropolitan Outlook Spring 2012), taking the current population of the City of Edmonton to 812,201 and the Edmonton CMA to nearly 1.2 million.
Growth continues and the recent Municipal Census, released in April 2012, records the city’s population at 817,498.
Diversified Economy Offers Opportunity
Edmonton’s powerful resource engine drives a diverse range of economic sectors – including consumer-driven sectors.
The Conference Board of Canada’s Metropolitan Outlook (Fall 2012) highlights Edmonton’s sustained growth over the past couple of years, including a 7.2% output growth in 2012 from the manufacturing sector and a very diverse economic structure, scoring .91 out of a possible rating of 1.0.
Public and private sector investment creates a thriving regional customer base and the ability to attract world-class sector leaders in:
- industrial manufacturing
- petrochemical processing
- environmental technologies
- transportation and logistics
- finance, management and information technology
- diversified range of supply and service businesses
Major Construction Projects Edmonton Service Region
As of October 2012 there are $175 billion of projects under construction or actively proposed to start by 2015 in the Edmonton service region.
(Government of Alberta: Inventory of Major Projects)
Inventory of Major Alberta Construction Projects by Sector
Valued at $5 million or greater and planned to start by 2015
|Project Sector||Number of Projects||Value - All Projects
|Oil and gas||13||$10,037|
|Chemicals and petrochemicals||3||$1,380|
|Agriculture and related||4||$218.4|
|Forestry and related||2||$82|
|Subtotal, industrial sectors||347||$173,255|
|Commercial/retail and residential||60||$5,984.7|
|Subtotal, other sectors||333||$19,762.5|
|Total planned construction||680||$193,017.5|
Source: Government of Alberta