1) Adjusted for inflation, Edmonton’s economy is expected to grow 3.5% to 4.5% in 2013 as compared to 2.4% for Canada.
2) In 2012 the population of greater Edmonton was 1,205,000; predictions for 2013 and 20 18 are 1,224,000 and 1,331,000 respectively.
3) Edmonton’s population has grown 2.5 times faster than the national average of 1.1%; Alberta’s population grew 2.9% to 3,906,800 in 2012.
4) Of all Canadian provinces and territories, Alberta and Saskatchewan are the only two to experience net positive interprovincial migration.
5) After a 480,000s.f. expansion in 2011, Edmonton International Airport served 6.7M passengers in 2012 (400,000 more than in 2011).
6) Edmonton has a strong labour market and a resulting, country leading, low employment rate of 4.0% (Canada is 7.2%).
7) Alberta’s unemployment rate in 2012 decreased to 4.7% from 5.5% in 2011 and 6.5% in 2010; the potential of a labour shortage is on the horizon.
8) Alberta’s avg. weekly earnings of $1,098 are 20..8% higher than the national avg.; $5.9B of consumer spending in October 2012 set a new record.
9) In November 2012 there were 258 rigs drilling in Alberta, a 12.2% drop from 2011 due to caution over shipping constraints and inventory pooling.
10) Over the next 25 years, Alberta’s oil sands, serviced primarily through Edmonton, will generate over $2.1 trillion in economic activity in Canada.
11) With 170 billion barrels, the oil sands represents 97% of Canada’s total reserves which are the world’s third largest after Saudi Arabia & Venezuela.
12) Edmonton's industry is not only about natural resources. Our Economy is more diversified than those of Toronto, Montreal or Calgary, as ranked by the Conference Board of Canada.
13) The University of Alberta is the second largest research institution in the country. The Edmonton Public School Board has a reputation has one of the best school boards in the country, and one of the largest.
So based on the above 13 points (and I can add more), there is no surprise as to why more and more people are looking to move to Alberta and Edmonton and this is a great place to buy a business.
For a list of businesses that we have for sale please visit our site by clicking here.
Here are a few more links about this topic that might be of interest to some readers:
Alberta recognized as one of the fastest growing province in Canada
Alberta confident of economy in 2013
City of Edmonton Economic Outlook Report
Conference Board of Canada report on Edmonton real GDP growth in 2013