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Alberta
Highlights
Growth rate
| |
2006 |
2007(F)) |
2008(F) |
| Economy |
| Real GDP Growth* |
6.8% |
4.5% |
3.8% |
| Employment Growth* |
4.8% |
4.7% |
2.1% |
| Net Migration* |
85,911 |
65,000 |
58,000 |
| New Home Market |
| Single-detached Starts* |
31,835 |
28,250 |
25,250 |
| Multi-family Starts* |
17,127 |
19,500 |
17,000 |
| Resale Market |
| Total MLS Sales* |
74,350 |
74,000 |
70,000 |
| Average Price* |
$285,383 |
$355,000 |
$379,000 |
| Natural Resource Pricing |
| World Oil Price (US$/bbl) |
64.97 |
58 |
54.25 |
| AB Natural Gas ($/GJ) |
5.95 |
6.75 |
6.5 |
Edmonton metropolitan region (Edmonton Census area)
Highlights
- Fifth largest and one of the fastest growing metro economies
- $30 billion worth of projects currently announced, planned or under construction
- Over one million educated, hard-working and entrepreneurial people
- A diverse, growing economy and low taxes and business costs make Edmonton the best major city in Canada to do business, according to Canadian Business magazine.
- Fourth highest median household income among Canadian CMA's ($67,325)
- With ten universities and colleges, excellent public health and educational institutions, affordable cost of living, and a clean, safe environment, Greater Edmonton is a great place to live and to raise a family.
- Northern Alberta's abundance of natural resources will drive billions of dollars in planned capital investments in the coming decade.
- Greater Edmonton Outlook 2008
| |
2006 |
2007 (F) |
2008 (F) |
| Economy |
| Economic Growth Rate% |
|
5.0 |
3.7 |
| Net Migration* |
21,080 |
19,000 |
15,500 |
| New Home Market |
| Single-family Starts* |
9,064 |
7,800 |
6,700 |
| Multi-family Starts*
|
5,906 |
6,750 |
5,700 |
| Single Average
Price* |
$308,726 |
$440,000 |
$500,000 |
| Resale Market |
| Total Sales* |
21,984 |
21,200 |
20,000 |
| Average Price* |
$250,915 |
$340,000 |
$360,000 |
| Average Price (Sherwood Park) |
$346,767 |
$455,114 |
|
| Rental Market (October survey) |
| Apt. Vacancy Rate (%)* |
1.2 |
1.0 |
0.8 |
| Two-bedroom Average Rent* |
$808 |
$950 |
$1,090 |
| Labor Market |
| Employment Growth* |
15,500 |
30,000 |
15,000 |
| Unemployment Rate% |
4.2 |
3.5 |
3.5 |
| Demographics |
| Population (000) |
1,050 |
1,078 |
1,102 |
Strathcona County
Since 2000, Strathcona County's overall population has been growing at just over 3% per year, with the urban portion growing at a faster yearly rate than the rural area. The residential population for the County as of June 1, 2006 was estimated at 82,511. With a sustained growth of 3% per year, it is anticipated that the County will be home to 95,500 people by 2010. Other growth factors, such as Real GDP, retail sales and employment rates mirror trends that are found within metropolitan Edmonton. $22.8 billion in major projects are announced, under construction, or recently completed in Strathcona County.
Industrial development
Strathcona County has a large diversified industrial base with companies that are continually growing and adapting to the changing economy.
2007 |
2008 |
- Petro-Canada refinery modifications project and feedstock conversion at $3.4 billion continue
- BA Energy’s $1.8 billion bitumen upgrader in Alberta’s Industrial Heartland
- Enbridge’s Pipeline Terminal in Alberta’s Industrial Heartland
- Air Products Canada Phase 2 construction- $200 million
- Shell Canada Scotford upgrader $5 billion
- North American Oilsands announce $4 billion upgrader
- Trans Canada Pipelines storage facility
- Gulf Chemicals catalyst recycling plant locates at former Oxy Vinyl site
- Griffon Industrial – ASA Alloys, Western RV,
- Strathmoor Industrial - HT Metal Heat Treating
- Clover Bar Industrial - Larfarge pipe manufacturing/yard
- Sherwood Industrial Estates - NIC Trucking
|
- Petro-Canada refinery modifications project and feedstock conversion at $3.4 billion continue
- BA Energy’s $1.8 billion bitumen upgrader in Alberta’s Industrial Heartland continue
- Enbridge’s Pipeline Terminal in Alberta’s Industrial Heartland continues
- Air Products Canada Phase 2 construction- complete in spring
- Shell Canada Scotford upgrader $5 billion continues
- StatoilHydro (North American Oilsands) $4 billion upgrader
- Trans Canada Pipelines storage facility continues
- Gulf Chemicals catalyst recycling plant locates at former Oxy Vinyl site - continues
- Griffon Industrial - McCordick Glove and Safety
|
Infrastructure development
Infrastructure is continually being expanded and developed to accommodate
the needs of the community.
2007 |
2008 |
- Cloverbar Road twinning Dawson to Highway 16
- Lakeland Drive Construction - Davenport to Highway 21
- Main Boulevard Rehabilitation
- Broadmoor Boulevard intersection improvements
- Baseline Road asphalt overlays
- Cloverbar Road water main
|
- Sherwood Drive north water main
- Lakeland Reservoir Supply System
- Main Boulevard Phase 4/5
- Wye Road, Sherwood Drive - Hawthorne Street construction
- Heartland Industrial Roads
|
Commercial development
Commercial and institutional development continues to be strong to accommodate the growing population.
2007 |
2008 |
- Sherwood Business Park - Trans America Group constructing Broadmoor Place 7 & 8; Sherwood Park Chrysler-Saturn Dealership starts construction; Synenco & Colt Engineering
- Shivam Park will be home to a Honda Dealership and other commercial opportunities
- Scotiabank opens in Heritage Crossing
- Three-level office building with underground parkade in Durham Town Square
- Tirecraft opens their office and training facility on Seneca Road
- Strathcona Power Centre planning sessions go forward
- Addition to Park Vet Clinic - lease space
- Woodfine Developments announce plans for office/commercial buildings in Broadview Business Park
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- Sherwood Business Park - Trans American Group continues construction of Broadmoor Place 7 & 8 and proposes 9; Sherwood Park Dodge under construction; Hotels looking at area, Fountain Tire, Warehouse/office building, mini storage facility, addition to Best Western Hotel; Ulan Square- warehouses and mini-storage, Subco, Alberta College of Paramedics, EXH Engineering, and Canonbie Contracting.
- Sherwood Park Honda building in Shivam Park
- Strathcona Power Centre plans for construction in Spring 2008
- Multi-tenant building - Broadway Business Park
- Arctic Chiller completes expansion
- Stor Edge Developments building in Strathmoor Industrial
|
Institutional development
2007 |
2008 |
- Construction scheduled to begin on the Strathcona Community Hospital
- Community Centre detail design, contract documents and tenders
- Completion of Strathcona Christian Academy elementary school
|
- Construction begins on the Strathcona Community Hospital
- Community Centre underground parking lot construction begins
|
Residential development
Strathcona County's housing market is expected to continue to be strong
for the next few years.
2007 |
2008 |
- The residential single-detached housing market had a total of 1,393 new dwellings (single detached, apartments, duplexes & row houses) planned or under construction at an estimated cost of $310,329,012
- Festival Estates in Centre in the Park completed
- Design stages of Emerald Hills Urban Village
- Approval for multi-housing development within the Strathcona Power Centre development south of Wye
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- Alberta’s strong economy is expected to maintain a high demand for new single-family and multi-family housing, particularly in Strathcona County for the next 5 years.
- An additional 6,673 residential units expected over the next five years
- Bedford Village and Park Vista under construction in Centre in the Park
- Emerald Hills Urban Village site development underway
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Sources: Strathcona County Economic Development & Tourism
Planning and Development Services
Corporate Planning & Intergovernmental Affairs
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