MORE THAN CANADA'S ENERGY POWERHOUSE - HOW ALBERTA IS WINNING WITH INNOVATION
Alberta’s economy is diversifying. A leader in energy, clean tech and agriculture, Alberta is capitalizing on growth across the technology, financial services, aviation and logistics, and tourism sectors.
Alberta is one of the best places to do business. With low tax rates, less red tape and access to a talented workforce, in Alberta, you can make it happen.
Alberta may be one of the world’s largest energy producers, but the new economy is fuelled by innovations across multiple diverse sectors.
A highly educated workforce, stable banking system and global connectivity have helped the province establish itself in emerging sectors like technology, financial services, aviation and logistics. Continued investment in energy, clean tech, petrochemicals and agriculture ensures that Alberta’s economy is as diverse as its landscapes.
Capital Markets and ESG: The Alberta Advantage
Responsible and sustainable development is crucial to global environmental stewardship, positive change and global governance. That future is here, in Alberta.
Alberta is working hard to drive impact and create positive change to a sustainable, low carbon global economy. With leading industry expertise and innovation across the project supply chain, from project management to financing and a diverse workforce to address today’s challenges, investments into Alberta’s energy sector will support the global low carbon transformation.
Alberta is Canada’s leading jurisdiction for renewable investment. Rystad predicts over 80% of renewable investment will take place in Alberta over the next five years. Investors are already making Alberta their renewable energy home. Over $2B has been invested since July 2019.
Carbon Capture, Utilization and Storage
Alberta’s technical expertise, carbon capture, utilization and storage (CCUS) success and geology provide an ideal setting for the development of carbon capture, purification and development opportunities for carbon storage in Alberta. CCUS technology is critical to meeting 2050 targets. Capturing, purifying and creating products with carbon will cut global emissions and create a more circular economy.
According to the International Energy Agency (IEA), low carbon hydrogen production is crucial to meeting global net-zero targets. Alberta, home to 70% of the marketable natural gas in Canada, leading technical expertise and innovative decarbonization technologies like CCUS, offers an opportunity to supply low carbon fuels like hydrogen to markets internationally.
Oil and Gas including methane abatement
As one of the world’s largest oil and gas producers, investments into lower carbon fuels and lower carbon energy options can be found here in Alberta. Did you know? Ninety per cent of major oil producers in Canada – largely in Alberta – have committed to net-zero by 2050.
Cleantech innovation for global decarbonization
Canada’s oil and gas industry, led by Alberta, is the largest contributor to cleantech spending in Canada at 75% of the approximately $1.4 billion spent annually. The entrepreneurial spirit in Alberta makes it a global hub for cleantech investment and Calgary is ranked as one of the world’s top 15 cleantech ecosystems.
Vibrant, international cities that you’ll love to live in.
Alberta’s two international cities, Calgary and Edmonton, benefit from an abundance of recreational activities, vast outdoor spaces and a positive, welcoming atmosphere.
Calgary is the third most diverse major city in the country and welcomes immigrants from over 150 countries. Edmonton is also extremely diverse, with one in four Edmontonians being an immigrant.
By 2050, it’s anticipated that 50% of Edmonton’s population will be immigrants. With low housing prices and a high quality of life, Calgary and Edmonton are two of North America’s most livable and affordable cities. Recognized as safe and wealthy, Calgary has been named the third most liveable city in the world while Edmonton’s housing prices can’t be beat.
Grow with the most business-friendly policies in Canada
As a leader in energy, clean tech and agriculture, Alberta is diversifying — capitalizing on growth in the technology, financial services, aviation and logistics sectors. By streamlining approvals and lowering taxes, Alberta is creating the best possible environment for businesses and investors. Since lessening the burden on job creators, the province has successfully cut thousands of regulatory requirements — reducing red tape by 15%. Alberta has the highest economic freedom in Canada as ranked by the Fraser Institute’s Economic Freedom Index.
Connect your business through world-class infrastructure, export-orientation and a diverse ecosystem.
Grow your business and exports from Alberta.
Alberta’s world-class infrastructure supports business development and growth. The province’s extensive transportation links, market access and telecommunication networks make it a hub for companies looking to do business worldwide.
Benefitting from direct access to the US and easy access to the Pacific Rim and Europe, Alberta leads the country in exports. In 2019, the province had the second-highest exports per capita at $26,772, well above the Canadian average of $14,483. Through 15 free trade agreements, Canada has preferred market access to 51 foreign countries. These agreements cover a market of over 1.5 billion potential consumers with a combined GDP of $49.3 trillion USD.
Fully integrated airports
Alberta has three international airports with on-site customs located in Edmonton, Calgary and Fort McMurray. The Edmonton International Airport (EIA) is Canada’s largest airport by area and is home to world-class cargo operations. As the gateway to Canada’s north, EIA is fully integrated into the region’s logistics network and features industrial land dedicated to agri-business, logistics and distribution, aerospace and aviation, and advanced manufacturing.
To the south, the Calgary International Airport is one of the fastest growing cargo airports in Canada. Over 75% of all Alberta’s air cargo shipments are transported through Calgary which provides access to the US — the world’s largest industrial and consumer market.
Alberta is served by the two most important transcontinental freight transportation players in Canada. Canadian Pacific Railway and Canadian National Railway operate approximately 7,000 route miles in Alberta and transport 66 million tonnes in and out of the province.
Alberta’s extensive rail network not only allows market access across North America, but also to Asian markets. The Port of Vancouver and Port of Prince Rupert, two of Canada’s largest ports, offer regular departures to major markets including China, Japan, South Korea and India. Alberta’s extensive network of pipelines, highways and telecommunications infrastructure are also attractive to companies looking to do business globally. In 2019, over $630 million was invested into Alberta communications networks.
Global and diverse ecosystem
Alberta has a strong global network due to the multinational companies that operate in the province. There is an innate supportive culture of Albertans connecting businesses and communities. With over 180 different languages or dialects spoken by Albertans, we embrace diversity and welcome businesses and talent to move here.
Invest Alberta international offices
Invest Alberta’s International Offices play a vital role in strengthening Alberta’s presence globally. Staff in international offices are bilingual, experts in their local economy, and knowledgeable about the latest developments in Alberta.
Grow your business with a highly educated workforce and the highest labour productivity in Canada.
Talent & Productivity
Great minds and bright talent
Alberta’s greatest asset is its people. Not only is Alberta’s working population growing at a faster rate than every other province, but it is also the youngest in the country, very diverse and highly educated.
Young, diverse and growing workforce
Alberta’s population is young, diverse and highly educated. The combined share of workers with a post-secondary certificate and university degree rose to 64.9% in 2020 from 56.7% in 2011. Alberta has the third highest percentage of landed immigrants in the working age population and in 2019, 43,694 new immigrants in Canada came to Alberta.
Internationally ranked post-secondary institutions
Alberta is home to some of the best post-secondary institutions in the country — specializing in energy, computer science, business, engineering and medical sciences. The University of Alberta is one of Canada’s leading universities. Not only is their computing science program ranked sixth in Canada, but their artificial intelligence (AI) research is ranked third in the US and Canada. Alberta is also home to two of the country’s top 10 business schools and the Northern Alberta Institute for Technology (NAIT) is one of the largest technology and apprenticeship schools in Canada. With excellent post-secondary institutions, the province attracts tens of thousands of international students every year. As of 2020, 55 per cent of Albertans aged 25 to 64 have completed a post-secondary program.
Workforce of the future
Alberta is home to over 98,000 tech workers. That number keeps growing thanks to the province’s excellent post-secondary institutions. Over 9,000 students graduate from STEM programs annually and Alberta’s post-secondary institutions are the third largest suppliers of STEM graduates in the country. Most tech workers cluster around the Calgary and Edmonton regions. In fact, Calgary has the highest concentration of high-tech workers in the country.
Alberta’s low tax rates leave companies with more to invest in people, research and growth.
Alberta’s tax advantage in 2021-22 is $13.3 billion. Albertans and Alberta businesses continue to pay the lowest overall taxes compared to other Canadian provinces.
The lowest tax rates in the country
Alberta has some of the lowest taxes in North America — with no provincial sales tax, no payroll tax, no health care premiums, and some of the lowest corporate income taxes in Canada. Low fuel taxes and low personal income tax rates make Alberta one of the most cost competitive jurisdictions in the country.
Alberta’s tax advantage is an estimate of the total additional provincial taxes individuals and businesses would pay if Alberta had the same tax system as other provinces. Ontario and Saskatchewan are the closest, netting at $13.3 billion more in taxes under respective tax systems.
Growing the future of food
Alberta is expanding its agricultural sector through innovation, technology and the development of new bio-based products.
Alberta’s agricultural sector is foundational to the province’s economy — contributing $9.68 billion in GDP in 2020 and employing over 69,800 Albertans. The province offers high-quality primary products and is the third largest exporter of agri-food products in Canada.
Alberta has long been an agricultural powerhouse. The development of earlier-maturing wheat varieties in the early 1900s helped establish crop farming in the province — and we’ve been innovating ever since. Alberta’s agricultural industry is developing new technologies to increase production, improve efficiencies and create high-quality, value-added products. Alberta is also home to global agribusinesses who are leading the transformation of sustainable food and environmental stewardship.
As a leading producer of canola, wheat, dry peas, barley and cattle, Alberta farmers are growing their food processing capabilities. The province’s arable lands, abundance of sunshine and extensive irrigation networks make it an ideal place to produce agricultural products. Global connectivity and business-friendly policies open tremendous opportunities for agriculture processing facilities to establish Alberta as their North America hub.
Aviation & Logistics
Taking aviation and logistics to new heights
Alberta is building its cargo capacity and leveraging its expertise in aviation, rail and trucking to transport people and goods all over the world.
Alberta’s aviation and logistics sector is supported by vast rail and road networks, as well as significant logistics and warehousing centres.
As e-commerce and ever-complicating supply chains increase the demand for efficient aviation and logistics, Alberta is a critical distribution hub for North America. The province is well-positioned to serve some of the world’s largest markets and to link global transportation routes.
With two of the largest airports in Canada, integrated rail and intermodal infrastructure, and a thriving trucking industry, Alberta is well-connected to deliver efficient access to consumer markets globally.
Energy & Clean Tech
Investing in a low carbon future
Alberta is a global leader in energy production and one of the world’s leading investment destinations for renewable, carbon capture and hydrogen investments.
Alberta provides some of the lowest cost renewable power in North America.
Low-carbon hydrogen is a $100-billion opportunity for Alberta. The global hydrogen industry could be worth US$2.5 to $11 trillion annually by 2050.
A leading jurisdiction for renewable, cleantech and geothermal energy and home to the third largest oil reserves in the world; Alberta is harnessing its expertise with innovation to build a cleaner, more sustainable world.
Alberta will achieve a 45% methane reduction target by 2025, demonstrating a commitment to cutting carbon emissions. The province’s diverse resource portfolio also includes natural gas, minerals, wind, solar, geothermal and an abundance of affordable, low emission hydrogen.
Alberta’s finance sector is strong, stable and on the rise
Alberta embraces digital transformation and is changing the way finance works.
The concentration of capital-intensive industries has created strong demand for a robust, innovative financial services sector. As a result, the province has developed world-class expertise in niche sectors such as asset management, trading, mergers and acquisition, corporate banking and equity issuance.
Driven by consumer demand, the technological revolution within the international financial services sector will only accelerate in the years to come. Alberta will be at the forefront of this dynamic change.
The low cost of doing business and concentration of capital from corporate head offices makes Alberta one of the most welcoming places for financial firms.
Here you’ll find both world’s largest finance players intermixed with exciting fintech startups, all supported and driven by a skilled workforce. As one of the most entrepreneurial provinces in Canada, Alberta is also connecting innovative fintech firms with the capital needed to grow — changing the way finance works.
Growing Alberta’s petrochemical industry
Whether its low-carbon hydrogen or conventional chemical products, Alberta’s established petrochemical industry is growing and diversifying.
Alberta produces over 60% of Canadian natural gas.
$7.2 billion in petrochemical projects are planned, underway or have recently been completed in Alberta.
Alberta is home to the country’s largest refining and petrochemical manufacturing cluster in Canada and produces more than 60% of the country’s natural gas.
Alberta’s well-established petrochemical industry capitalizes on low-cost feedstocks and an efficient transportation system to meet the growing global demand for petrochemical products.
Coupled with lucrative incentives and increased market access, the province’s expertise and competitive business environment have given the industry momentum.
Innovators are leveraging the province’s leadership in carbon capture, use and storage (CCUS) to create low-carbon products and position Alberta as a global supplier of clean, responsibly sourced petrochemical products.
Technology & Innovation
Alberta is a global tech hub
Alberta’s tech innovators and entrepreneurs are leading digital transformation across the province and the world. Alberta-based companies received $562 million in PE and $999 million in VC funds in 2021
Alberta offers the ideal environment to launch or scale a tech company. A young, diverse and educated workforce, great quality of life and a cohesive ecosystem provide businesses with a solid foundation for success.
Alberta’s spending on digital transformation (DX) is set to surpass $20B between 2021-2024, a forecast of 13% year over year growth.
Edmonton is one of three hubs at the core of the Government of Canada’s Pan-Canadian AI Strategy, designed to leverage and grow the country’s expertise in artificial intelligence (AI) and machine learning (ML).
DeepMind, Google’s AI subsidiary, has praised the incredible talent emerging from the University of Alberta when they were selecting Edmonton for its first research lab outside the UK.
The province’s AI ecosystem is supported by the Alberta Machine Intelligence Institute (Amii) which brings together academics and entrepreneurs to advance the adoption of AI. Amii has been critical to attracting the talent, innovation and capital needed to grow Edmonton into a global AI hub.
Book a Meeting with Invest Alberta Corporation (IAC)
Learn how we can help you maximize the speed, ease and costs of expanding or relocating your business to Alberta. Contact Invest Alberta Corporation
Invest Alberta Corporation (IAC) works directly with investors globally to start up or scale up in Alberta, Canada. With offices in Calgary, Edmonton, along with 11 international locations in key markets around the world, we connect industry, government partners, and economic development organizations and offer seamless services that make it easy for investment to flow into the province. With a strong entrepreneurial culture, we are taking new and innovative approaches to expediate the process of doing new business in Alberta.
Established as a crown corporation of the Government of Alberta, Invest Alberta promotes Alberta as an investment destination of choice to investors internationally, attract high-value and high-impact investments to Alberta, Canada.
Alberta, Can. Find the right home for your ambitions.
For more information, visit: investalberta.ca