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Alberta consistently has the highest investment per capita among Canadian provinces. In 2008, Alberta investment per capita was $24,267, well more than double the Canadian average.
In Central Alberta investors can benefit from one of the strongest, stable and diversified economies in the world.
In 2008 - 2009, 164 construction projects valued at $9,206.9 Million were reported in 31 municipalities. This is a 69% increase over 2007-2008 and a 225.7% increase over the 5 year average. From 2005 to 2009, average investment per year is reported at $4,078.4 Million. Growth in 2009 remains above the 5 year average in Central Alberta.
Monthly Update: Decreasing building costs are being reflected in the real estate market - providing excellent opportunities for new home buyers, especially with today's low mortgage rates. The Commercial / Retail and Residential Sector grew 58.7% in July over the prior 3 month average. This sector continued to grow in August as the value of projects increased 31.3% with the announcement of an $80 M shopping centre in Olds and a new Medical Office Building for Red Deer; Residential construction accounted for $240.6 million of activity. Growth in the Tourism / Recreation and Institutional sectors are 8.7% and 6.1%, respectively.
Although, growth in the power sector identifies 4 wind farms as being placed on hold, these projects are more accurately identified as 'staged' and are expected tp proceed in order of priority.
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Value of Investment by Sector in Central Alberta: Apr 2009 - Mar 2010
Monthly Inventory of Alberta Projects - Central Region (Millions, CDN $)
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Project Sector
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3 month Average Apr-09 to Jun-09
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Jul-09
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Growth
% Change
(Jul / prior 3 mos average)
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Aug-09
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Growth
% Change
(Jul to Aug)
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% Projects
On Hold for August
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Agriculture & Related
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$8.5
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$8.5
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0%
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$8.5
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0%
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Biofuels
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$700.0
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$710.0
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1.4%
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$700.0
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-1.4%
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Commercial/Retail and Residential
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$241.9
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$384.0
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58.7%
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$504.0
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31.3%
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4.0%
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Infrastructure*
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$798.5
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$814.0
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1.9%
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$824.5
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1.3%
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Institutional
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$595.2
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$531.8
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-10.6%
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$564.5
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6.1%
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1.8%
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Manufacturing
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$37.5
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$37.5
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0%
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$37.5
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0%
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Oil & Gas
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$98.0
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$128.0
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30.6%
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$128.0
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0%
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Pipelines
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$147.5
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$132.5
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-10.2%
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$126.5
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-4.5%
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Power
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$1,393.0
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$1,407.0
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1.0%
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$1407.0
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0%
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67.5%
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Tourism/Recreation
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$158.2
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$172.2
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8.8%
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$187.2
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8.7%
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Total
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$4,178.3
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$4,325.5
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$4,487.7
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Source: Alberta Finance and Enterprise
NOTE: Projects do not include those that run across Alberta and may intersect the region.
*City of Red Deer Relocation of Public Yards $122 Project was completed April.
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A monthly inventory of these projects is provided, to help firms identify potential supply opportunities and to provide information on economic and business development activities in the Central Region. Access reports and project details below.
Annual and long term inventories and growth charts are provided below:
Inventory of Alberta Projects - Central Region (April 1, 2008 - March 31, 2009)  March 31, 2009NOTE: Projects do not include those that run across Alberta and may intersect the region. Value of Projects across AB was estimated at $3,055.2 (Millions, CDN $) last year.
Inventory of Alberta Projects - Central Region (April 1, 2007- March 31, 2008) March 31, 2008
In 2008-2009, Central Alberta's investment per capita of $30,785 exceeded the reported provincial average by 26.9%. This is a 66.1% increase over 2007-2008. During this period, Central Alberta's population grew by 2.3%.
Various levels of governments across the region are taking advantage of lower steel and concrete costs to move forward with $1,298.7Million in infrastructure projects. A 36% increase over 2007-2008.
Construction spending may be slowing in Central Alberta's residential and commercial / retail sectors but infrastructure, institutional, power and tourism/recreation projects are holding up very nicely throughout this present economic downturn. In total, activity in these areas was $4,624.9 Million. This is a 19% increase over 2007-2008.
7 Road improvements, pipeline and power projects located across Central Alberta accounted for 38.3% of all construction projects ($3,524.3 Million). A number of these projects are in the works to bolster infrastructure, support industry expansion and better position Central Alberta for further economic growth. A dramatic increase of 1,547% was seen in the Pipeline sector ($3,132.5 Million).
Value of Investments by Sector:
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last updated August 12, 2009
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