Highlights of the alberta economy 2011

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  • 1. Highlights of the Alberta Economy 2011
  • 2. Table of Contents• Economic Highlights – Growth – Economic prosperity – Attractive Investment Climate – Exports• A Diversified and Prosperous Economy – Energy – Environment – Agriculture – Forestry – Manufacturing – Advanced Technology Industries – Advanced Technology (Broadband Usage) – Financial Services – Tourism
  • 3. 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
  • 4. 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 – Volunteerism – Living in Alberta• Online Resources
  • 5. Alberta:The Best Place to Live, Work and Do Business
  • 6. 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 73.4Source: Statistics Canada and Alberta Treasury Board and Enterprise
  • 7. Economic Highlights Economic Prosperity 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% Energy 3.0% Energy Agriculture 23.4% Health 36.1% 1.4% 3.6% Health Manufacturing Education 4.9% 6.5% 3.6% Education Transportation &Public Administration 3.7% Utilities 4.8% 7.2% Manufacturing Public Retail & Wholesale 6.0% Administration 8.1% 4.0% Business & Transportation & Retail & Wholesale Commercial Tourism & 9.0% Services Utilities Consumer Services Business & 7.7% 9.6% 3.8% Finance & Real Tourism & Finance & Real Commercial Estate Services Consumer Services Estate 11.0% 5.2% 14.6% 5.5% Sources: Statistics Canada and Alberta Treasury Board and Enterprise
  • 8. Economic Highlights Attractive Investment Climate Per Capita Investment (2010) Alberta $18,930 Saskatchewan $15,161 Newfoundland & Labrador $12,847 Canada $9,911 British Columbia $9,815 Manitoba $8,660 Ontario $8,267 Quebec $8,112 New Brunswick $7,757 Nova Scotia $7,243 Prince Edward Island $6,732Source: Statistics Canada
  • 9. Economic Highlights Exports Alberta’s Major Exports 2010* Total Exports of Goods ($77.8 Billion) Crude Petroleum 38.8 Gas and Gas Liquids 13.7 Petrochemicals 6.2 Metals & Machinery 5.1 Crops & Livestock 3.3 Forestry Products 2.3 Processed Food & Beverages 2.1 Refined Petroleum Products 1.4 $ Billions Sulphur & Coal 1.3 Electronic & Electrical Products 0.9 Others 2.6* Export of services is not included in this estimateSources: Statistics Canada and Alberta Treasury Board and Enterprise
  • 10. 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 andGas & 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 Treasury Board and Enterprise
  • 11. 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 $2 billion (CDN) to commercial scale carbon capture and storage projects.
  • 12. A Diversified and Resource-based Economy Agriculture Alberta’s Major Agricultural Products 2010 Farm Cash Receipts ($ Billions) Total: $8.98 Billion Beef Cattle 3.07 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
  • 13. A Diversified and Resource-based Economy ForestryShipments 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.Albertas commercially productive timber land base of 26.1 million hectares covers 40 per cent of Albertas total area and includes in excess of 2.2 billion m3 of growing stock.Annually, Alberta allows 29.7 million cubic meters (m3) to be harvested, of which 18.4 million m3 is coniferous, and 11.3 million m3 is deciduous.* Includes wood products and pulp & paper
  • 14. 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 Furniture and Fixtures 0.8 $ Billions **Electronic Products 0.4 Other Manufacturing* 4.9*Includes wood and pulp & paper industries**Includes telecom equipmentSource: Statistics Canada
  • 15. A Diversified and Resource-based Economy Advanced Technology Broadband Usage Korea 96 Norway 78 Broadband Usage– International 2009 Canada 72 Percentage of House holdsGermany 65 Accessing the Internet by Broadband Japan 60 France 57 British Colum bia 81 Italy 39 Alberta 79 Ontario 74 Canada 72 Manitoba 71Broadband Usage– Canada 2009 Nova Scotia 70Percentage of House holds Prince Edw ard Island 70Accessing the Internet by Broadband Saskatchew an 69 New foundland and Labrador 65 New Brunsw ick 65Sources: Statistics Canada and OECD Quebec 64
  • 16. A Diversified and Resource-based Economy Financial ServicesAlberta 26Quebec 22 Financial Services Employment Growth 2002 - 2010Ontario 21 Percentage increase in EmploymentCanada 20 BC 17 Alberta 58 BC 38 Canada 31Financial Services GDP Growth 2002– 2010Percentage increase in GDP Ontario 27 Quebec 27
  • 17. 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 53% Edmonton & Alberta Area Central 22% 17% Alberta North 6% Canadian Unspecified Rockies Region 15% 3% Overseas 13% Alberta South Other Canada 10% 23% United States Calgary & Area 11% 27%Source: Statistics Canada and Alberta Tourism, Parks & Recreation
  • 18. Doing Business in Alberta Competitiveness Business Sector Labour Productivity 2010 Real GDP per Hour Worked, in 2002 constant dollars Alberta $47.00 Newfoundland and $45.00 Labrador Saskatchewan $42.80 Ontario $38.20 Canada $38.20 Quebec $36.50 British Columbia $34.20 Manitoba $33.90 New Brunswick $29.80 Nova Scotia $28.60 Prince Edward Island $25.60Source: Statistics Canada – GDP at basic prices
  • 19. 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 14.0% Ontario 9.3% British Columbia 6.3% Canada -0.4% Manitoba -2.7% Quebec -4.0% Newfoundland and Labrador -5.2% Nova Scotia -8.2% Saskatchewan -9.2% New Brunswick-19.1% Prince Edward Island Source: Canadian Business Patterns, Statistics Canada
  • 20. Doing Business in Alberta Research & DevelopmentUnder 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
  • 21. Doing Business in Alberta Government Provincial Net Financial Assets/Debt as a per cent of GDP (2010-2011) 9.6% Alberta -6.4% Saskatchewan -14.7% British Columbia -23.1% Manitoba -28.6% Newfoundland & Labrador -30.4% New Brunswick -33.3% Prince Edward Island -33.5% Ontario -34.0% Canada -38.2% Nova Scotia -49.4% QuebecSource: Conference Board of Canada
  • 22. Doing Business in Alberta Competitive Corporate Taxes Comparison of Corporate Income Taxes United States 32.7% 6.5% February 2011 39.2%* Alberta January 16.5% 10.0% 26.5% 2011 Alberta 2012 15.0% 10.0% 25.0% Federal Provincial / State*6.5% represents the average effective top general state corporate income tax rateU.S. rates known as of February 2011Source: Alberta Treasury Board and Enterprise, and Tax Foundation
  • 23. Doing Business in Alberta Provincial & State Corporate Taxes Provincial Corporate Income Tax Rates (per cent) State Corporate Income Tax Rates (per cent) Manufacturing Small Manufacturing SmallProvince General & Processing Business State General & Processing BusinessAlberta 10 10 3 Oregon 7.6 7.6 6.6British Columbia 10 10 2.5 California 8.84 8.84 8.84New Brunswick 10 10 5 North Dakota 6.4 6.4 6.1Quebec 11.9 11.9 8 Montana 6.75 6.75 6.75Manitoba 12 12 0 Idaho 7.6 7.6 7.6Saskatchewan 12 10 2 Colorado 4.63 4.63 4.63Ontario 11.5 10 4.5 Utah 5 5 5Newfoundland & Labrador 14 5 4 New Mexico 7.6 7.6 4.8Prince Edward Island 16 16 1 Louisiana 8 8 7.1Nova Scotia 16 16 4.5 Arizona 6.97 6.97 6.97Federal 16.5 16.5 11 Federal 35 31.85 34Note: Rates as of July 1, 2011 The small business rate is the effective tax rate for US$512,000 (comparable to the Canadian threshold of Cdn$500,000) The small business income threshold for Nova Scotia and Manitoba is Cdn$400,000. For all other provinces the smallbusiness income threshold is Cdn$500,000Source: Canada Revenue Agency, PWC Tax News Network, Federation of Tax Administrators
  • 24. Doing Business in Alberta Educated Work Force Composite Learning Index 2010 Alberta 82.0 Ontario 79.0 British Columbia 78.0 Saskatchewan 77.0 Manitoba 76.0 Canada 75.0 Nova Scotia 71.0 Prince Edward Island 69.0 Quebec 68.0 New Brunswick 65.0Newfoundland and Labrador 61.0 Source: Canadian Council on Learning
  • 25. Working in Alberta Strong Labour MarketUnemployment Rates (%) by Province: 2005 – 2009 (average) and 2010 4.6 Saskatchewan 5.2 4.6 Manitoba 5.4 4.2 Alberta 6.5 5.4 British Columbia 7.6 7.8 2005 - 2009 Quebec 2010 7.9 6.7 Canada 8.0 7.0 Ontario 8.7 8.7 New Brunswick 9.3 8.2 Nova Scotia 9.3 11.0 Prince Edward Island 11.3 14.5 Newfoundland and Labrador 14.3 Source: Statistics Canada
  • 26. Working in Alberta Low Personal Taxes Top Marginal Personal Income Tax Rates 2011 Alberta 29.0% 10.0% 39.0% Ontario 29.0% 11.2% 40.2% New Brunswick 29.0% 12.7% 41.7% British Columbia 29.0% 14.7% 43.7% Saskatchewan 29.0% 15.0% 44.0% Newfoundland and 29.0% 15.5% 44.5% LabradorPrince Edward Island 29.0% 16.7% 45.7% Manitoba 29.0% 17.4% 46.4% Quebec* 24.2% 24.0% 48.2% Nova Scotia 29.0% 21.0% 50.0% Federal Personal Income Tax Provincial Personal Income Tax* Quebec residents receive an abatement of 16.5% of basic federal tax because of theprovince’s decision to opt out of federal cash transfers in support of provincial programsSource: Alberta Budget 2011
  • 27. Alberta Sasaktchewan $2,983 $4,244 $12,786 $14,065 $ Working in Alberta British Columbia $5,309 $15,120 Low Personal Taxes Ontario $5,555 $15,386 New Brunswick $6,428 $16,213 Newfoundland & Labrador $6,983 $16,773 Comparison of Provincial and Manitoba $7,165 $16,935 Federal Taxes by Province Nova Scotia $7,386 $17,157 Two-Income Family of Four - $75,000* Quebec $7,236 $17,180 Prince Edward Island $7,628 $17,392 Total Provincial Tax Total Tax Alberta $7,229 $28,801 British Columbia $9,277 $30,889 Sasaktchewan $9,824 $31,393Comparison of Provincial and Ontario $11,157 $32,761Federal Taxes by Province New Brunswick $12,183 $33,725Two-Income Family of Four -$125,000* Newfoundland & Labrador $13,246 $34,786 Manitoba $13,811 $35,318*As of March 2011 Prince Edward Island $14,309 $35,808Note: Unlike in previous Highlights of the Alberta Economypresentation reports, tobacco taxes were not included in the Nova Scotia $14,644 $36,134personal taxes calculations since most Albertans do notsmoke. Alberta’s rankings will not change even if tobacco Quebec $17,426 $39,173taxes were included in the comparisons.Source: Alberta Treasury Board and Enterprise Total Federal Tax Total Provincial Tax
  • 28. Working in Alberta Family Income 2009 Median After-Tax Family Income Families with Two Persons or More Alberta $77,800 Saskatchewan $69,900 British Columbia $67,200 Ontario $66,200 Canada $63,800 Manitoba $62,400 Quebec $57,300 Prince Edward Island $55,800 Nova Scotia $55,100 New Brunswick $55,000 Newfoundland and Labrador $53,900Source: Statistics Canada
  • 29. Working in Alberta Standard of Living Index of Economic Well-Being Index of Economic Well-Being Provincial Comparison, 2010 International Comparison, 2009 Alberta 0.731 Norway 0.799 Denmark 0.684 Newfoundland 0.638 Alberta 0.676 Saskatchewan 0.624 Germany 0.650Prince Edward Island 0.567 Belgium 0.648 Sweden 0.637 Manitoba 0.561 Netherlands 0.636 Canada 0.561 Finland 0.626 Quebec 0.549 France 0.609 Canada 0.575 Ontario 0.543 United Kingdom 0.562 British Columbia 0.543 Australia 0.559 New Brunswick 0.501 Italy 0.532 United States 0.482 Nova Scotia 0.498 Spain 0.451 Source: Centre for the Study of Living Standards
  • 30. Living in Alberta People Alberta Population by Ethnic Origin, 2006 % of Total % of Total Ethnic Origin Number Ethnic Origin Number Population PopulationTotal 3,256,355 100.0% Total 3,256,355 100.0%English 885,825 27.2% East Indian 88,165 2.7%German 679,705 20.9% Métis 83,235 2.6%Canadian 667,405 20.5% Italian 82,015 2.5%Scottish 661,265 20.3% Welsh 76,115 2.3%Irish 539,160 16.6% American 64,200 2.0%French 388,210 11.9% Danish 58,825 1.8%Ukrainian 332,180 10.2% Filipino 54,305 1.7%Dutch (Netherlands) 172,910 5.3% British Isles 53,855 1.7%Polish 170,935 5.2% Hungarian 48,665 1.5%North American Indian 169,355 5.2% Austrian 36,480 1.1%Norwegian 144,585 4.4% Spanish 30,995 1.0%Chinese 137,600 4.2% Romanian 26,870 0.8%Swedish 93,810 2.9% Vietnamese 25,170 0.8%Russian 92,020 2.8% Swiss 22,185 0.7% Note: These numbers add up to more than the population due to multiple responses. Source: Statistics Canada, 2006 Census of Population
  • 31. Living in Alberta EducationComprehensive Academic University of Alberta; University of Calgary; University of& Research Institutions Lethbridge; Athabasca UniversityBaccalaureate & AppliedStudies Institutions Grant MacEwan University; Mount Royal UniversityPolytechnic Institutions NAIT*; SAIT* Polytechnic Bow Valley College ; Grand Prairie Regional College; KeyanoComprehensive College ; Lethbridge College; Medicine Hat College; NorQuestCommunity Institutions College; Northern Lakes College; Olds College; Portage College; Red Deer College; Lakeland CollegeIndependent Academic Ambrose University College; Canadian University College;Institutions Concordia University College of Alberta; The King’s University College; St. Mary’s University CollegeSpecialized Arts &Culture Institutions Alberta College of Art and Design; The Banff Centre* Northern Alberta Institute of Technology and Southern Alberta Institute of TechnologyNote: Full Time and Part Time Students, 2009-2010
  • 32. Living in Alberta Quality Education Top Scores in Mathematics, Science and Reading 2009 Program for International Student Assessment (PISA) Examinations Average = 500 Mathematics Science Reading Rank Jurisdiction Score Rank Jurisdiction Score Rank Jurisdiction Score 1 Shanghai-China 600 1 Shanghai-China 575 1 Shanghai-China 556 2 Singapore 562 2 Finland 554 2 Korea 539 3 Hong Kong-China 555 3 Hong Kong-China 549 3 Finland 536 4 Korea 546 4 Alberta 545 4 Hong Kong-China 533 5 Chinese Taipei 543 5 Singapore 542 5 Alberta 533 6 Quebec 543 6 Japan 539 6 Ontario 531 7 Finland 541 7 Korea 538 7 Singapore 526 8 Liechtenstein 536 8 British Columbia 535 8 British Columbia 525 9 Switzerland 534 9 New Zealand 532 9 Canada 524 10 Japan 529 10 Ontario 531 10 Quebec 522 11 Alberta 529 11 Canada 529 11 New Zealand 521 12 Canada 527 12 Estonia 528 12 Japan 520 42 United States 487 31 United States 502 24 United States 5001. PISA test 15 year olds Mathematics, Science and Reading skills2. The rank is out of 75 jurisdictions Sources: Measuring Up: Canadian Results of the OECD PISA Study, Statistics Canada
  • 33. Living in Alberta Health Care Selected Health Indicators Per Capita Government 4.3 Alberta Canada** Health Expenditures - 2010 ($ 000s) 3.7 30 Day In-Hospital 7.3Mortality Rate from Heart Attack* (2006-2009) 8.9 30 Day In-Hospital 16.4 Mortality Rate from Stroke* (2006-2009) 17.7 *Note: Risk Adjusted Percentages **Canada data does not include Quebec due to differences in data collection Sources: National Health Expenditure Trends, 1975-2010, Canadian Institute of Health Information (CIHI) ; Health Indicators 2010 Report,(CIHI), Statistics Canada
  • 34. Living in Alberta Arts and Culture Private Sector Support of Performing Arts Average Household Spending on Live Performing (2008) Arts: 2009 (Annual Dollars) Per Capita Alberta $6.35 Saskatchewan $141 Alberta $135 Ontario $5.77 Manitoba $123British Columbia $4.64 Ontario $113 Canada $105 Manitoba $4.46 Prince Edward Island $101 Quebec $3.17 British Columbia $98 Quebec $88 Saskatchewan $2.34 Nova Scotia $80 Nova Scotia $1.80 New Brunswick $72 Newfoundland and Labrador $56 Note: Excludes statistics for Prince Edward Island, Newfoundland and New Brunswick which were suppressed to meet the confidentiality requirements of the Statistics Act. Source: Statistics Canada
  • 35. Living in Alberta Donations and Volunteerism Charitable Donor Statistics Median Annual Donation Per taxfiler, 2009 Alberta $370 Prince Edward Island $370 British Columbia $360 Manitoba $340 Newfoundland and $340 Labrador Saskatchewan $330 Ontario $310 Nova Scotia $300 New Brunswick $290 Canada $250 Quebec $130Source: Statistics Canada
  • 36. Alberta On-Line ResourcesAlberta Government www.alberta.caAlberta Treasury Board and www. treasuryboard.alberta.ca/Enterprise www.albertacanada.comDoing Business in Alberta:Investing and Locating http://www.albertacanada.com/intl-business/establishing-a-company.htmlExporting Your Products http://www.albertacanada.com/ab-business/exporting-your-products.htmlIndustry Sectors http://www.albertacanada.com/ab-business/alberta-industries.htmlRegional Development http://www.albertacanada.com/about-alberta/regional-economic-development.htmlCommunity/Market Information http://www.albertacanada.com/about-alberta/the-economy.htmlVisiting Alberta:Travel Alberta www1.travelalberta.comList of Festivals in Alberta http://www.culture.alberta.ca/arts/artsfestivals/Vacation Guides http://www.travelalberta.com/en/Vacation_Guides/Provincial Parks gateway.cd.gov.ab.caTourism www.tpr.alberta.caWorking and Living in Alberta:Immigrating www.albertacanada.com/immigrationThings to Do www.tpr.alberta.ca and http://www.culture.alberta.ca/arts/artsfestivals/Health Care www.health.alberta.caEducation www.education.alberta.caAlberta Learning Information Service www.alis.alberta.caAdvanced Education and Technology http://www.advancededucation.gov.ab.ca/