highlights of the alberta economy...british columbia canada ontario alberta 25.7 27.2 31.5 37.0 64.0...

Highlights of the Alberta Economy 2014 Alberta Innovation and Advanced Education

Table of Contents Economic Highlights

– Growth – Economic prosperity – Attractive Investment Climate – Exports

A Diversified and Resource-based Economy – Energy – Agriculture – Manufacturing – Advanced Technology

Broadband Usage – Financial Services – Tourism

Doing Business in Alberta – Competitiveness – Entrepreneurship – Research and Development – Government – Competitive Corporate Taxes – Provincial and State Corporate

Taxes – Educated Work Force

Table of Contents Working in Alberta

– Strong Labour Market – Low Personal Taxes – Family Income – Standard of Living

Living in Alberta

– People – Education – Quality Education – Health Care – Arts and Culture – Donations and Volunteerism

Online Resources

Alberta: The Best Place to Live, Work and Do Business

Economic Highlights Growth

Growth In Selected Indicators: 2003 - 2013 Per Cent Change

Source: Statistics Canada and Alberta Innovation and Advanced Education

77.3

25.0

19.9

13.2

11.1

148.4

81.0

37.0

27.6

26.5

Investment

Goods Exports

GDP

Employment

Population

Alberta Canada

Economic Highlights Economic Prosperity

Economic Diversity: 1985 Percentage Distribution of GDP Total GDP: $67.6 Billion

Sources: Statistics Canada and Alberta Innovation and Advanced Education

Economic Diversity: 2013 Percentage Distribution of GDP Total GDP: $331.9 Billion

Energy 36.1%

Manufacturing 6.0%

Transportation & Utilities 7.7%Business & Commercial

Services 5.5%

Finance & Real Estate 11.0%

Tourism & Consumer Services 3.8%

Retail & Wholesale 8.1%

Public Administration 4.8%

Education 3.6%Health 3.6%

Agriculture 3.0%Construction 6.7%

Energy 24.6%

Manufacturing 6.9%

Transportation & Utilities 6.0%

Business & Commercial Services 10.6%

Finance & Real Estate 13.5%

Tourism & Consumer Services 4.4%

Retail & Wholesale 8.7%

Public Administration 4.4%

Education 3.6%

Health 5.0%Agriculture 1.9%

Construction 10.7%

Economic Highlights Attractive Investment Climate

Per Capita Investment (2013)

$5,975

$6,677

$7,346

$8,209

$8,241

$9,943

$10,363

$11,342

$19,259

$23,408

$27,617

New Brunswick

Prince Edward Island

Nova Scotia

Ontario

Quebec

Manitoba

British Columbia

Canada

Saskatchewan

Newfoundland & Labrador

Alberta

Sources: Statistics Canada and Alberta Innovation and Advanced Education

* Exports of services are not included in this estimate Sources: Statistics Canada and Alberta Innovation and Advanced Education

Economic Highlights Exports

Alberta’s Major Exports 2013 Total Exports of Goods ($103.7 Billion*)

$ Billions

2.1

0.8

0.9

2.2

2.3

3.5

4.7

5.2

7.6

10.0

64.4

Others

Sulphur & Coal

Electronic & Electrical Products

Refined Petroleum Products

Forestry Products

Processed Food & Beverages

Metals & Machinery

Crops & Livestock

Petrochemicals

Gas and Gas Liquids

Crude Petroleum

A Diversified and Resource-based Economy Energy

Alberta’s Energy Revenues 2013 Total: $96.3 Billion

Sources: Statistics Canada, Alberta Energy Regulator, Alberta Innovation and Advanced Education

Alberta’s Energy Exports 2013 Total: $75.2 Billion

Natural Gas & Gas

Liquids20.9%

Coal and Sulpur1.2%

Conventional Crude Oil

18.3%

Oil Sands59.6%

Natural Gas & Gas Liquids

13.3%

Coal and Sulphur

1.1%

Crude Oil86.1%

*Includes specialty cash crops, honey, poultry, eggs, program payments, etc. Source: Statistics Canada

A Diversified and Resource-based Economy Agriculture

Alberta’s Major Agricultural Products 2013 Farm Cash Receipts ($ Billions) Total: $11.8 Billion

2.22

0.40

0.42

0.52

2.28

2.63

3.28

Other*

Oats, Rye & Barley

Hogs

Dairy

Wheat (incl.Durum)

Canola & Flax

Beef Cattle

Source: Statistics Canada

$ Billions

A Diversified and Resource-based Economy Manufacturing

Value of Alberta Manufacturing Shipments in 2013 Total: $73.8 Billion

6.3

1.3

1.6

2.3

3.6

5.9

7.6

12.3

12.5

20.4

Other Manufacturing

Electronic & Electrical Products

Plastics & Rubber

Construction Materials

Wood Products

Fabricated Metals

Machinery

Chemical Products

Food & Beverage

Refined Petroleum

Sources: Statistics Canada and OECD

Broadband Usage – Canada 2011 Percentage of Households Accessing the Internet by Broadband

52

65

70

75

77

80

97

Italy

Japan

France

Canada

Germany

Norway

KoreaBroadband Usage – International 2011 Percentage of Households Accessing the Internet by Broadband

65 69 70 71 71 72 73 75 76

83 85

Quebec

New Brunswick

Manitoba

Newfoundland and Labrador


Saskatchewan

Nova Scotia

Canada

Ontario

British Columbia

Alberta

A Diversified and Resource-based Economy Advanced Technology Broadband Usage

A Diversified and Resource-based Economy Financial Services

18.1

21.4

23.8

26.2

36.9

Quebec

BritishColumbia

Canada

Ontario

Alberta

25.7

27.2

31.5

37.0

64.0

Quebec

Ontario

Canada

British Columbia

Alberta

Financial Services Employment Growth 2003 - 2013 Percentage increase in Employment

Financial Services GDP Growth 2003 - 2013 Percentage increase in GDP


A Diversified and Resource-based Economy Tourism

Alberta Tourism Expenditures by Visitor Origin (2011)

Total: $7.8 Billion

Source: Statistics Canada and Alberta Tourism, Parks and Recreation

Alberta65%

Other Canada19%

United States7%

Overseas9%

Doing Business in Alberta Competitiveness


Business Sector Labour Productivity 2013 Real GDP per Hour Worked, in 2007 constant dollars

$27.90

$35.20

$35.80

$43.80

$44.20

$44.60

$44.80

$48.30

$57.60

$69.60

$73.90


New Brunswick

Nova Scotia

Quebec

British Columbia

Ontario

Manitoba

Canada

Saskatchewan

Alberta


Source: Canadian Business Patterns, Statistics Canada

Doing Business in Alberta Entrepreneurship

Small Business – Cornerstone of the Economy 2003 – 2013 Percentage Change in Small Business Establishments (Less than 50 Employees)

-14.7%

-3.9%

-1.5%

1.4%

2.6%

4.1%

6.6%

12.1%

14.0%

18.5%

19.8%


New Brunswick

Nova Scotia

Saskatchewan


Quebec

Manitoba

Canada

British Columbia

Alberta

Ontario

•Bio Solutions •Energy and Environment Solutions •Health Solutions •Technology Futures •Alberta Research and Innovation Authority

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:

Doing Business in Alberta Research & Development

Doing Business in Alberta Government

Source: Conference Board of Canada

Provincial Net Financial Assets/Debt as a per cent of GDP (2013 - 2014)

2.2%

-5.2%

-17.4%

-24.8%

-28.8%

-35.6%

-35.8%

-36.8%

-36.8%

-39.4%

-49.5%

Alberta

Saskatchewan

British Columbia


Manitoba

Nova Scotia


New Brunswick

Canada

Ontario

Québec

39.0%*

Doing Business in Alberta Competitive Corporate Taxes

Comparison of Corporate Income Taxes

32.7%

15.0%

6.3%

10.0%

United StatesJanuary 2014

AlbertaJanuary 2014

Federal Provincial / State

*6.2% represents the average top general state corporate income tax rate Source: Alberta Innovation and Advanced Education, Tax Foundation and Federation of Tax Administrators

25.0%

Doing Business in Alberta Provincial & State Corporate Taxes

Provincial Corporate Income Tax Rates (per cent) State Corporate Income Tax Rates (per cent)

Province General Manufacturing & Processing

Small Business State General

Manufacturing & Processing

Small Business

Alberta 10 10 3 Oregon 7.6 7.6 6.6

British Columbia 11 11 2.5 California 8.84 8.84 8.84

New Brunswick 12 12 4.5 North Dakota 4.53 4.53 4.53 Quebec 11.9 11.9 8 Montana 6.75 6.75 6.75 Manitoba 12 12 0 Idaho 7.4 7.4 7.4 Saskatchewan 12 10 2 Colorado 4.63 4.63 4.63 Ontario 11.5 10 4.5 Utah 5 5 5 Newfoundland & Labrador 14 5 4 New Mexico 7.3 7.3 4.8

Prince Edward Island 16 16 4.5 Louisiana 8 8 4 Nova Scotia 16 16 3 Arizona 6.5 6.5 6.5 Federal 15 15 10 Federal 35 32.75 34 Note: Rates as of January, 2014 The small business rate is the effective tax rate for US$466,066 (comparable to the Canadian threshold of Cdn$500,000) The small business income threshold for Nova Scotia and Manitoba is Cdn$350,000 and $400,000, respectively. For all other provinces the small business income threshold is Cdn$500,000

Source: Canada Revenue Agency, Federation of Tax Administrators

Doing Business in Alberta Educated Work Force

Source: Canadian Council on Learning – Dissolved in April, 2012

61.0

65.0

68.0

69.0

71.0

75.0

76.0

77.0

78.0

79.0

82.0


New Brunswick

Quebec


Nova Scotia

Canada

Manitoba

Saskatchewan

British Columbia

Ontario

Alberta

Composite Learning Index 2010


Working in Alberta Strong Labour Market

Unemployment Rates (%) by Province: 2008 – 2012 (average) and 2013

11.5

11.4

10.4

9.0

7.6

7.5

7.1

6.6

5.4

4.6

4.0

11.3

13.7

9.3

8.8

7.9

8.0

7.4

6.8

5.1

5.4

4.8



New Brunswick

Nova Scotia

Quebec

Ontario

Canada

British Columbia

Manitoba

Alberta

Saskatchewan

2008-20122013

Working in Alberta Low Personal Taxes

Top Marginal Personal Income Tax Rates 2014

* Prince Edward Island and Ontario’s top provincial rates include a surtax ** Quebec residents receive an abatement of 16.5% of basic federal tax because of the province’s decision to opt out of federal cash transfers in support of provincial programs Source: KPMG

29.0%

29.0%

29.0%

29.0%

29.0%

29.0%

29.0%

29.0%

24.2%

29.0%

10.0%

13.3%

15.0%

16.8%

17.4%

17.8%

18.4%

20.5%

25.8%

21.0%

Alberta


Saskatchewan

British Columbia

Manitoba

New Brunswick

Prince Edward Island*

Ontario*

Quebec**

Nova Scotia

39.0%

42.3%

44.0%

45.8%

46.4%

46.8%

47.4%

49.5%

50.0%

50.0%

Working in Alberta Low Personal Taxes

Comparison of Provincial and Federal Taxes by Province Two-Income Family of Four – $100,000*

$12,633

$11,837

$11,278

$11,141

$10,073

$10,040

$8,878

$7,947

$7,447

$5,306

$28,753

$27,606

$27,049

$26,919

$25,865

$25,842

$24,716

$23,779

$23,278

$21,111

Quebec

Nova Scotia


Manitoba

New Brunswick


Ontario

British Columbia

Saskatchewan

Alberta

Total Federal Tax Total Provincial Tax

$$$$$$$$$ $$$$$$$$$$

$31,406

$28,037

$26,602

$26,555

$23,669

$23,336

$21,886

$19,726

$17,339

$13,737

$69,175

$65,309

$63,897

$63,840

$61,009

$60,699

$59,304

$57,120

$54,801

$51,180

Quebec

Nova Scotia

Manitoba


New Brunswick


Ontario

Saskatchewan

British Columbia

Alberta

Total Federal Tax Total Provincial TaxSource: Alberta Treasury Board and Finance (* as of March 2013)

Comparison of Provincial and Federal Taxes by Province Two-Income Family of Four – $200,000*


Working in Alberta Family Income

$59,500

$60,000

$60,000

$60,300

$61,100

$65,300

$68,000

$69,700

$70,400

$75,000

$83,800


New Brunswick

Quebec


Nova Scotia

Manitoba

Canada

British Columbia

Ontario

Saskatchewan

Alberta

2011 Median After-Tax Family Income Families with Two Persons or More

Source: Centre for the Study of Living Standards

Working in Alberta Standard of Living

Index of Economic Well-Being Provincial Comparison, 2012

0.3610.4730.4960.5070.516

0.5690.5730.5810.5850.6000.6190.6200.6340.641

0.791

SpainItaly

United StatesAustralia

CanadaUnited Kingdom

DenmarkFrance

SwedenFinland

NetherlandsGermanyBelgiumAlbertaNorway

Index of Economic Well-Being International Comparison, 2012

0.497

0.525

0.526

0.527

0.533

0.547

0.550

0.569

0.620

0.644

0.758


Nova Scotia

New Brunswick

Quebec

British Columbia

Ontario

Manitoba

Canada

Newfoundland

Saskatchewan

Alberta

Living in Alberta People

Alberta Population by Ethnic Origin, 2011

Note: These numbers add up to more than the total population due to multiple responses Source: Statistics Canada, 2011 Census of Population

Ethnic Origin Number % of Total Population Ethnic Origin Number % of Total

Population

Totals 3,567,975 100.0% Total 3,567,975 100.0% English 886,760 24.9% Russian 99,780 2.8% Canadian 776,695 21.8% Swedish 96,890 2.7% German 683,830 19.2% Métis 94,615 2.7% Scottish 670,955 18.8% Italian 88,705 2.5% Irish 565,120 15.8% British Isles 79,300 2.2% French 396,230 11.1% Welsh 75,875 2.1% Ukrainian 345,410 9.7% American 71,435 2.0% Dutch 182,270 5.1% Danish 59,060 1.7% North American Indian 177,140 5.0% Hungarian 52,025 1.5% Polish 174,380 4.9% Spanish 39,325 1.1% Chinese 155,960 4.4% Austrian 36,670 1.0% Norwegian 152,640 4.3% Vietnamese 32,505 0.9% East Indian 125,105 3.5% Romanian 29,425 0.8% Filipino 113,205 3.2% Lebanese 25,955 0.7%

Comprehensive Academic & Research Institutions

University of Alberta; University of Calgary; University of Lethbridge; Athabasca University

Baccalaureate & Applied Studies Institutions Grant MacEwan University; Mount Royal University

Alberta College of Art and Design; The Banff Centre

Living in Alberta Education

Polytechnical Institutions Northern Alberta Institute of Technology; Southern Alberta Institute of Technology

Specialized Arts & Culture Institutions

Independent Academic Institutions

Ambrose University College; Canadian University College; Concordia University College of Alberta; The King’s University College; St. Mary’s University College

Comprehensive Community Institutions

Bow Valley College; Grand Prairie Regional College; Keyano College; Lakeland College; Lethbridge College; Medicine Hat College; NorQuest College; Northern Lakes College; Olds College; Portage College; Red Deer College

Living in Alberta Quality Education

Source: Measuring Up: Canadian Results of the OECD PISA Study, Council of Ministers of Education, Canada

Top Scores in Mathematics, Science and Reading 2012 Program for International Student Assessment (PISA) Examinations

Average = 500 Mathematics Science Reading

Rank Jurisdiction Score Rank Jurisdiction Score Rank Jurisdiction Score 1 Shanghai-China 613 1 Shanghai-China 580 1 Shanghai-China 570 2 Singapore 573 2 Hong Kong-China 555 2 Hong Kong-China 545 3 Hong Kong-China 561 3 Singapore 551 3 Singapore 542 4 Chinese Taipei 560 4 Japan 547 4 Japan 538 5 Korea 554 5 Finland 545 5 Korea 536 6 Macao-China 538 6 British Columbia 544 6 British Columbia 535 7 Japan 536 7 Estonia 541 7 Ontario 528 8 Quebec 536 8 Alberta 539 8 Alberta 525 9 Liechtenstein 535 9 Korea 538 9 Finland 524

10 Switzerland 531 10 Vietnam 528 10 Ireland 523 15 Canada 518 11 Ontario 527 11 Chinese Taipei 523 17 Alberta 517 13 Canada 525 12 Canada 523

45 United States 481 37 United States 497 31 United States 498

1. PISA tests 15 year olds' Mathematics, Science and Reading skills 2. The rank is out of 75 jurisdictions

Living in Alberta Health Care

Selected Health Indicators

*Note: Risk Adjusted Percentages **Canada data do not include Quebec due to differences in data collection ***Preliminary Sources: National Health Expenditure Trends, 1975-2012, Canadian Institute of Health Information (CIHI); Health Indicators 2013 Report,(CIHI), Statistics Canada

16.0

7.3

3.9

13.5

6.4

4.6

30 Day In-HospitalMortality Rate fromStroke* (2009-2012)

30 Day In-HospitalMortality Rate from Heart

Attack* (2009-2012)

Per Capita GovernmentHealth Expenditures -

2012 ($ 000s)***Alberta Canada**

Living in Alberta Arts and Culture

Note: Excludes statistics for Prince Edward Island which were too unreliable to publish

$56

$71

$72

$90

$99

$105

$113

$173

$181

$183


Quebec

New Brunswick

Nova Scotia

Ontario

Saskatchewan

Canada

Alberta

Manitoba

British Columbia


Average Household Spending on Live Sporting and Performing Arts Events: 2011 (Annual Dollars)

Private Sector Support of Performing Arts (2010) Per Capita

$1.44

$2.22

$2.29

$3.55

$3.98

$5.11

$5.12

$5.98

Nova Scotia

Newfoundland and…

Saskatchewan

Quebec

Manitoba

British Columbia

Ontario

Alberta

Note: Excludes statistics for Prince Edward Island and New Brunswick which were suppressed for confidentiality reasons

Living in Alberta Donations and Volunteerism

Source: Canada Survey of Giving, Volunteering and Participating, Statistics Canada

$130

$260

$300

$310

$320

$340

$340

$360

$370

$390

$390

Quebec

Canada

New Brunswick

Nova Scotia

Ontario

Newfoundland andLabrador

Saskatchewan

Manitoba

British Columbia


Alberta

Charitable Donor Statistics Average Annual Donations, 2010

Alberta On-Line Resources Alberta Government : www.alberta.ca Alberta Innovation and Advanced Education: http://iae.alberta.ca/ www.albertacanada.com Doing Business in Alberta: Investing and Locating http://www.albertacanada.com/intl-business/establishing-a-company.html Exporting your Products http://www.albertacanada.com/business/export-your-products.aspx Industry Sectors http://www.albertacanada.com/ab-business/alberta-industries.html Regional Development http://www.albertacanada.com/about-alberta/regional-economic-development.html Community/Market Information http://www.albertacanada.com/about-alberta/the-economy.html Visiting Alberta: Travel Alberta www.travelalberta.com List of Festivals in Alberta http://travelalberta.com/Event%20List.aspx Vacations Guide http://www.travelalberta.com/en/Vacation_Guides/Pages/default.aspx?mrkt=Canada Provincial Parks http://albertaparks.ca/ Tourism www.tpr.alberta.ca Working and Living in Alberta: Immigrating www.albertacanada.com/immigration

Things to Do http://www.tpr.alberta.ca Health Care http://www.health.alberta.ca/ Education http://www.education.alberta.ca/ Alberta Learning Information Service http://alis.alberta.ca/ Advanced Education and Technology http://eae.alberta.ca/

http://www.alberta.ca/

http://eae.alberta.ca/

http://www.albertacanada.com/

http://www.albertacanada.com/intl-business/establishing-a-company.html

http://www.albertacanada.com/business/export-your-products.aspx

http://www.albertacanada.com/ab-business/alberta-industries.html

http://www.albertacanada.com/about-alberta/regional-economic-development.html

http://www.albertacanada.com/about-alberta/the-economy.html

http://www.travelalberta.com/

http://travelalberta.com/Event%20List.aspx

http://www.travelalberta.com/en/Vacation_Guides/Pages/default.aspx?mrkt=Canada

http://albertaparks.ca/

http://www.tpr.alberta.ca/

http://www.albertacanada.com/immigration

http://www.tpr.alberta.ca/

http://www.health.alberta.ca/

http://www.education.alberta.ca/

http://alis.alberta.ca/

http://eae.alberta.ca/

highlights of the alberta economy...british columbia canada ontario alberta 25.7 27.2 31.5 37.0 64.0...

Documents