Highlights of the Alberta Economy 2013 Alberta Enterprise and - PowerPoint PPT Presentation

Highlights of the Alberta Economy 2013 Alberta Enterprise and Advanced Education

Table of Contents   Economic Highlights Doing Business in Alberta – Growth – Competitiveness – Economic prosperity – Entrepreneurship – Attractive Investment Climate – Research and Development – Exports – Government – Competitive Corporate Taxes  A Diversified and Resource- – Provincial and State Corporate based Economy Taxes – Energy – Educated Work Force – Agriculture – Manufacturing – Advanced Technology Broadband Usage – Financial Services – Tourism

Table of Contents   Working in Alberta Online Resources – 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

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

Economic Highlights Growth Growth In Selected Indicators: 2002 - 2012 Per Cent Change 23.8 Population 11.2 Alberta Canada 28.2 Employment 14.4 34.8 GDP 20.4 95.1 Goods Exports 17.0 130.3 Investment 83.0 Source: Statistics Canada and Alberta Enterprise and Advanced Education

Economic Highlights Economic Prosperity Economic Diversity: 1985 Economic Diversity: 2012 Percentage Distribution of GDP Percentage Distribution of GDP Total GDP: $66.8 Billion Total GDP: $306.7 Billion Construction 6.7% Construction Agriculture 11.8% Energy 3.0% Energy 22.1% Health 36.1% Agriculture Manufacturing 3.6% 1.4% 7.5% Health Education 5.2% 3.6% Transportation & Public Utilities Education Administration 3.8% 6.4% 4.8% Public Business & Manufacturing Retail & Wholesale Administration Commercial 6.0% 8.1% 4.7% Services Transportation & Retail & Wholesale 10.6% Tourism & Utilities 8.9% Finance & Real Consumer Services T ourism & Business & 7.7% Finance & Real Consumer Services Estate 3.8% Commercial Estate 4.5% 13.1% Services 11.0% 5.5% Sources: Statistics Canada; Alberta Treasury Board and Finance and Alberta Enterprise and Advanced Education

Economic Highlights Attractive Investment Climate Per Capita Investment (2012) $25,348 Alberta Newfoundland & Labrador $19,581 $19,343 Saskatchewan $11,224 Canada $10,063 British Columbia $9,713 Manitoba $8,821 Quebec $8,574 Ontario $7,760 New Brunswick $7,159 Nova Scotia $6,751 Prince Edward Island Sources: Statistics Canada and Alberta Enterprise and Advanced Education

Economic Highlights Exports Alberta’s Major Exports 2012* Total Exports of Goods ($94.8 Billion) 57.0 Crude Petroleum 8.3 Gas and Gas Liquids Petrochemicals 6.6 5.6 Crops & Livestock 5.3 Metals & Machinery 3.5 Processed Food & Beverages 2.7 Refined Petroleum Products Forestry Products 2.1 $ Billions 0.9 Sulphur & Coal 0.9 Electronic & Electrical Products 1.8 Others * Exports of services are not included in this estimate Sources: Statistics Canada and Alberta Enterprise and Advanced Education

A Diversified and Resource-based Economy Energy Alberta’s Energy Revenues 2012 Alberta’s Energy Exports 2012 Total: $85.5 Billion Total: $66.1 Billion Coal and Natural Gas & Coal and Natural Gas Sulphur Sulpur Gas Liquids & Gas 1.4% 1.7% Liquids 12.5% 19.4% Crude Oil 78.9% Crude Oil 86.1% Sources: Statistics Canada, Energy Resources Conservation Board, Alberta Enterprise and Advanced Education

A Diversified and Resource-based Economy Agriculture Alberta’s Major Agricultural Products 2012 Farm Cash Receipts ($ Billions) Total: $12.0 Billion 3.40 Beef Cattle Canola & Flax 3.10 Other* 2.18 Wheat (incl. 2.06 Durum) Dairy 0.52 Hogs 0.41 Oats, Rye & Barley 0.33 *Includes specialty cash crops, honey, poultry, eggs, program payments, etc. Source: Statistics Canada

A Diversified and Resource-based Economy Manufacturing Value of Alberta Manufacturing Shipments in 2012 Total: $73.5 Billion Refined Petroleum 19.7 Food & Beverage 12.7 Chemical Products 11.6 Machinery 8.2 Fabricated Metals 6.3 Wood Products 3.1 Construction Materials 2.4 Electronic & Electrical Products 1.2 $ Billions Printing & Publishing 0.8 Other Manufacturing 7.5 Source: Statistics Canada

A Diversified and Resource-based Economy Advanced Technology Broadband Usage 97 Korea 83 Norway Broadband Usage– International 2010 75 Germany Percentage of Households 73 Canada Accessing the Internet by Broadband 67 France 63 Japan 80 Alberta 49 Italy 79 British Columbia 74 Ontario Broadband Usage– Canada 2010 73 Canada Percentage of Households 71 Saskatchewan Accessing the Internet by Broadband 70 Nova Scotia 69 Prince Edward Island 68 Manitoba 67 Newfoundland and Labrador 66 New Brunswick Sources: Statistics Canada and OECD 62 Quebec

A Diversified and Resource-based Economy Financial Services 27 Alberta 22 Ontario Financial Services Employment Growth 2002 - 2011 20 Canada Percentage increase in Employment British 19 Columbia 18 Quebec 64 Alberta British 43 Columbia 34 Quebec Financial Services GDP Growth 2002 - 2011 Percentage increase in GDP 32 Canada 29 Ontario Source: Statistics Canada

A Diversified and Resource-based Economy Tourism Alberta Tourism Receipts by Visitor Overnight Tourism by Tourism Origin (2011) Destination Region (2011) Total : 41.7 Million Person Nights Total: $7.8 Billion Alberta Edmonton & 65% Alberta Central Area 16% 23% Alberta North 9% Unspecified Region Canadian 1% Overseas Rockies 9% Alberta South 17% 9% United States 7% Calgary & Area Other Canada 25% 19% Source: Statistics Canada and Alberta Tourism, Parks and Recreation

Doing Business in Alberta Competitiveness Business Sector Labour Productivity 2012 Real GDP per Hour Worked, in 2007 constant dollars Alberta $68.50 Newfoundland and $68.10 Labrador Saskatchewan $58.30 Canada $47.70 Ontario $44.10 Quebec $43.90 British Columbia $43.60 Manitoba $43.30 New Brunswick $36.80 Nova Scotia $34.70 $28.60 Prince Edward Island Source: Statistics Canada – GDP at basic prices

Doing Business in Alberta Entrepreneurship Small Business – Cornerstone of the Economy 2002 – 2012 Percentage Change in Small Business Establishments (Less than 50 Employees) Ontario 16.6% Alberta 15.2% 12.5% British Columbia 9.2% Canada 5.5% Newfoundland and Labrador 4.2% Manitoba Saskatchewan 0.5% Quebec -0.3% Nova Scotia -1.1% New Brunswick -5.3% -13.5% 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 (2011-2012) 9.3% Alberta Saskatchewan -5.1% -16.4% British Columbia Newfoundland -25.7% Manitoba -25.8% New Brunswick -33.0% Nova Scotia -35.2% -35.5% Prince Edward Island Ontario -37.1% Canada -37.5% Quebec -51.0% Source: Alberta Treasury Board and Finance

Doing Business in Alberta Competitive Corporate Taxes Comparison of Corporate Income Taxes United States 32.7% 6.3% 39.0%* January 2013 Alberta January 15.0% 10.0% 25.0 % 2013 Federal Provincial / State *6.3% represents the average top general state corporate income tax rate U.S. rates known as of January 2013 Source: Alberta Enterprise and Advanced Education, Tax Foundation and Federation of Tax Administrators

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 Small Province General & Processing Business State General & Processing Business Alberta 10 10 3 Oregon 7.6 7.6 6.6 British Columbia 10 10 2.5 California 8.84 8.84 8.84 New Brunswick 10 10 4.5 North Dakota 5.15 5.15 4.9 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 7.6 7.6 4.8 Prince Edward Island 16 16 1 Louisiana 8 8 7.3 Nova Scotia 16 16 3.5 Arizona 6.97 6.97 6.97 Federal 15.0 15.0 11 Federal 35 32.73 34 Note: Rates as of April, 2013 The small business rate is the effective tax rate for US$500,210 (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 small business income threshold is Cdn$500,000 Source: Canada Revenue Agency, PWC Tax News Network, Federation of Tax Administrators