| ALBERTA
ADVANTAGE |
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Alberta's
vision is "A vibrant and prosperous province where Albertans
enjoy a superior quality of life and are confident about the future
for themselves and their children."
The
Government of Alberta's 20-Year Strategic Plan has outlined four
strategic opportunities or "pillars" to achieve this long-term
vision - Unleashing Innovation; Leading in Learning; Competing in
a Global Market Place; and Making Alberta the Best Place to Live,
Work, and Visit.
The
Alberta Advantage illustrates, using widely accepted performance
indicators, that Alberta is leading the way in these areas and is
progressing toward its vision by capitalizing on the exciting opportunities
that are available…
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a strong and vibrant economy
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a
young, skilled and productive workforce
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affordable
living costs
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a
strong commitment to innovation and knowledge-based progress
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a
highly entrepreneurial and competitive business community
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a
business-friendly province committed to responsible regulation
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the
lowest overall tax load of any province in Canada, including
no retail sales tax
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a
modern and efficient infrastructure
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an
abundance of natural resources
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a
beautiful natural environment
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a
fiscally responsible provincial government
The
Alberta Advantage is organized around the following categories:
the economy, people, taxes, operating costs, quality of life and
sound financial management. It shows that Alberta is "the place
to be."
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| THE
ECONOMY: STRONG AND DIVERSIFIED |
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Over the past decade,
Alberta's economic performance has been exceptional, leading the
nation in nearly all economic indicators. Our province's prosperity
enables its residents and businesses to be confident about the future.
Alberta is creating an environment and infrastructure that enables
knowledge and technology to build upon our traditional economic
strengths and create new opportunities.
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| REAL
GDP PER CAPITA |
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- Alberta has the highest real gross
domestic product per capita among provinces.
- Since 2001, Alberta's real gross
domestic product per capita has averaged 10.8 per cent higher
than second place Ontario.
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- Alberta's economic growth rate
was the second highest in Canada over the past five years.
- In 2005, Alberta's real output
grew by an estimated 4.3 per cent.
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- Alberta continues to be far ahead
in total private sector investment per person, as it has been
for decades.
- Over the past five years, Alberta's
investment per capita has been more than double that of the
next highest province, Newfoundland and Labrador.
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- Over the past five years, Alberta's
average unemployment rate of 4.7 per cent was lowest among the
provinces, well below the national average of 7.3 per cent.
- In 2005, Alberta's unemployment
rate of 3.9 per cent was the lowest in Canada.
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- Over the five years ending in
2004 (the most recent data available), Albertans enjoyed the
highest personal income per capita.
- In 2004, Alberta had the highest
personal income per capita among provinces at $35,005, 15.4
per cent above the national average.
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PERSONAL
DISPOSABLE INCOME |
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- Over the five years ending in
2004 (the most recent data available), Alberta was ahead of
all other provinces in personal disposable income per capita.
At $26,961, Alberta's 2004 personal disposable income per capita
was 15.3 per cent above the national average.
- With no general retail sales tax
in Alberta, our disposable income advantage translates into
even greater purchasing power.
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- Alberta continues to lead all
provinces in retail sales per capita.
- Over the past five years, Alberta's
retail sales per capita has been approximately 20 per cent above
the national average.
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- Over the past five years, Alberta's
average business growth has been the highest of any province
in Canada.
- In 2005, the number of businesses
in Alberta increased by 0.4 per cent, the third strongest growth
among provinces.
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- Calgary has approximately 8.5
head offices for every 100,000 persons. This rate by far exceeds
all other cities in Canada.
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THE
PEOPLE: YOUNG, HIGHLY TRAINED AND PRODUCTIVE |
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In
today's knowledge-based economy, the people of Alberta are our province's
most important resource. Albertans are highly skilled and productive,
and are among the most educated in the world. They are the foundation
of our thriving and vibrant economy.
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- Over the past five years, Alberta's
population has grown the fastest among provinces.
- In 2005, Alberta's population
growth of 1.6 per cent also led the provinces.
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NET
INTERPROVINCIAL MIGRATION |
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- Alberta has the highest number
of interprovincial migrants in Canada.
- From July 2004 to June 2005, a
net of 16,615 migrants came to Alberta from other provinces.
The only other province to experience positive net interprovincial
migration during this time was British Columbia at 7,456.
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PERFORMANCE
OF STUDENTS AGED 15 |
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- In 2003, the performance of students
aged 15 in Alberta was significantly above the Canadian, United
States and international averages in reading, mathematics and
science. (2006 data will be available next year)
- Out of 41 countries and Canada's
provinces, Alberta scored second highest in mathematics and
reading and fourth highest in science.
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POPULATION
AGED 25-64 WITH POST-SECONDARY EDUCATION |
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- Alberta has the best educated
workforce in Canada. • Approximately 65 per cent of Albertans
aged 25 to 64 have post-secondary education.
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SHARE
OF POPULATION UNDER 40 |
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- Alberta has the youngest population
among provinces.
- In 2005, about 57 per cent of
Albertans were under the age of 40.
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- Alberta has the highest labour
force participation rate in Canada, 4.4 percentage points higher
than second place Manitoba.
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EMPLOYMENT
TO POPULATION RATIO |
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- Compared to other provinces, more
Albertans are working relative to the size of our working age
population.
- Alberta is 4.4 percentage points
above second place Manitoba.
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- Albertans are the most productive
workers in Canada, as measured by real GDP dollars produced
per hour worked.
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- In terms of person days lost due
to labour disputes, Alberta's 5-year average record is better
than all other provinces except Prince Edward Island.
- Newfoundland and Labrador had
a public labour dispute in 2004 that distorted its five year
average.
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- Albertans are the most "connected"
when it comes to Internet technology, which improves access
to information, education, health and commerce services.
- Canada is the most connected
country in the world.
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THE
LOWEST TAX LOAD: LEAVING MORE DOLLARS IN THE POCKETS OF ALBERTANS |
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Alberta
is open for business with the lowest overall corporate and personal
taxes in Canada. Albertans benefit from a competitive personal income
tax system, the lowest tax on gasoline among provinces, no general
retail sales taxes and among the lowest property taxes in Canada.
Alberta businesses benefit from having among the lowest corporate
income taxes in Canada and no general payroll or capital taxes.
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TOTAL
PROVINCIAL TAX LOAD |
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- Alberta has by far the lowest
combined provincial and municipal tax burden among the provinces,
at 54.8 per cent of the national average.
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- Alberta has no provincial retail
sales tax.
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COMBINED
TOP MARGINAL PERSONAL INCOME TAX RATES |
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- Alberta has the lowest top marginal
personal income tax rate among the provinces at 39 per cent
– 29 per cent federal and 10 per cent provincial.
- In Alberta, top income earners
keep 61 per cent of their last dollar earned.
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- This graph, and the following
two, compare provincial income, sales, payroll, fuel and tobacco
taxes, and health care insurance premiums payable by a family.
- In Alberta, a typical one-income
family earning $30,000 pays only $160, approximately 94 per
cent less than the average of the other provinces.
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- In Alberta, a typical two-income
family earning $60,000 pays $3,862, approximately 35 per cent
less in combined taxes and health care insurance premiums than
the average of the other provinces.
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- In Alberta, a typical two-income
family earning $100,000 pays $7,150, approximately 36 per cent
less in combined taxes and health care insurance premiums than
the average of the other provinces.
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PROVINCIAL
GENERAL CORPORATE INCOME TAX RATES |
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- Alberta has the second lowest
general corporate income tax rate in Canada at 10 per cent.
- Alberta businesses also benefit
from no general sales tax, capital tax or payroll tax.
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PROVINCIAL
SMALL BUSINESS CORPORATE INCOME TAX RATES |
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- Alberta's small business corporate
income tax rate of 3 per cent is the second lowest in Canada.
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- At 9.0 cents per litre, Alberta
has the lowest gasoline tax rate among provinces, 2.5 cents
per litre below Manitoba, the second lowest province.
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- This graph shows the total additional
provincial taxes that individuals and businesses would pay if
Alberta had the same tax systems as other provinces. The comparison
also includes government revenues from health care insurance
premiums and alcohol.
- Albertans would pay almost $7.2
billion more if we had British Columbia's tax system and $12.9
billion more if we had Quebec's tax system.
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LOW
OPERATING COSTS: FOR BUSINESSES AND HOUSEHOLDS |
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When
it comes to the cost of living and doing business, the province
of Alberta is an attractive place to be. Alberta's favourable business
environment encourages investment and allows companies and industries
to compete and succeed. Our low taxes, skilled workforce and modern
infrastructure provide additional outstanding advantages.
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- Based on KPMG's study of business
costs, Edmonton has the second lowest total costs among the
major Canadian cities and all American cities.
- An Edmonton business would have
an overall 11 per cent cost advantage over the average U.S.
city.
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- Edmonton and Calgary are competitive
among major cities for lowest initial investment costs, which
consist of land acquisition and building construction costs.
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- Labour costs, a major component
of location-sensitive business costs, are lowest in Edmonton
among major North American cities.
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WORKERS'
COMPENSATION PREMIUMS |
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- Alberta's average WCB premium
rate is the lowest among provinces.
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- Based on the Fraser Institute's
2006 Provincial Investment Climate Report, Alberta emerged with
the best investment climate in the country.
- The Alberta government’s policies
encourage a positive investment climate.
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- Edmonton has the lowest overall
office occupancy costs among major Canadian cities.
- Calgary has lower occupancy costs
than Toronto and Ottawa.
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- Calgary and Edmonton continue
to have the lowest gasoline prices in Canada, a trend that has
been observed for the last fifteen years.
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- Albertans enjoyed the lowest residential
natural gas rates in Canada during the first six months of 2005
(the most recent data available).
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- Even with Alberta's booming economy,
Edmonton's daily cost of living continues to remain competive
when compared to other major urban centres in the country.
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- Alberta remains competitive among
the provinces and regions.
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- Among major cities, Calgary and
Edmonton rank first and third, respectively, when it comes to
lowest property taxes for a typical single family home.
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QUALITY
OF LIFE: OUTSTANDING |
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Each
year, thousands of people from the rest of Canada are drawn to this
province, well known for its exceptional standard of living. Alberta
is a prosperous region, where residents share a rich natural environment
and enjoy outstanding opportunities in recreation, arts and culture.
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- In 2003, Alberta tied with Quebec
for the third highest life expectancy at birth among provinces.
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- Based on an analysis of "Quality
of Life," Calgary placed 25th out of 215 major cities in the
world, tying with the highest ranked U.S. cities, Honolulu and
San Francisco.
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EXPENDITURE
ON RECREATIONAL ACTIVITIES |
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- With the highest average household
income among provinces, Albertans are able to spend more on
sports, performing arts, and other recreational and entertainment
activities.
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SUPPORT
FOR PERFORMING ARTS |
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- On a per capita basis, Alberta
ranks second highest among provinces for private sector support
of the performing arts, according to the most recent data.
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PROVINCIAL
HEALTH EXPENDITURE |
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- In 2005-06, Alberta's health expenditures
per capita are estimated the highest in Canada.
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PROVINCIAL
AND LOCAL EDUCATION EXPENDITURE |
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- In 2004-05, Alberta had the highest
education expenditures on a per capita basis.
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THE
ALBERTA GOVERNMENT: ACCOUNTABLE AND FISCALLY RESPONSIBLE |
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The
Alberta government is committed to responding to the needs of its
citizens, while ensuring a balanced budget. As the only province
with no accumulated debt, Alberta continues to attract international
attention as the most fiscally responsible government in Canada.
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GOVERNMENT
SURPLUSES (DEFICITS) |
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- The Alberta government has a surplus
of $7.4 billion in 2005-06. Alberta is committed to “living
within its means."
- Alberta has the highest surplus
as a percentage of GDP in 2005-06.
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GOVERNMENT
NET FINANCIAL ASSETS (DEBT) |
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- Alberta is the only provincial
government in Canada with total financial assets that exceed
total liabilities.
- At March 31, 2006, Alberta's financial
assets are forecast to be $39.7 billion. Total liabilities (excluding
pension obligations) are forecast to be $12.5 billion, resulting
in net financial assets of about $27.2 billion.
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ALBERTA'S
ACCUMULATED DEBT |
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- Alberta's accumulated debt was
eliminated as of March 31, 2005.
- This was 20 years ahead of the
debt retirement schedule originally legislated in the Fiscal
Responsibility Act.
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- Alberta is the top province in
Canada for credit worthiness. All major rating agencies (Standard
and Poor's, Moody's, and Dominion Bond Rating Service) give
Alberta "Triple A," the highest possible rating.
- The high ratings reflect Alberta's
strong economic performance, high income levels, low debt burden,
and prudent fiscal management.
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- Alberta has the lowest interest
rate spread relative to 10-year Government of Canada bonds of
any province in Canada.
- Alberta's strong fiscal performance
and top credit rating have led to lower borrowing costs for
the province, its provincial corporations and agencies, and
local authorities.
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- For the ninth consecutive year,
Alberta's fiscal performance rating topped all other provinces
and the federal goverment on the Fraser Institute's Fiscal Performance
Index (formally the Budget Performance Index.)
- According to the index, which
is based on the tax and spending behaviour of governments, Alberta's
performance surpassed British Columbia's second place ranking
by 8 percentage points.
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ECONOMIC
FREEDOM INDEX - CANADA |
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- The Fraser Institute's measure
of economic freedom (which indicates the fostering of economic
growth and prosperity through minimal government regulation
and taxation) rates Alberta number one in Canada as a place
to do business.
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ECONOMIC
FREEDOM INDEX - NORTH AMERICA |
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- Alberta tied with Colorado and
North Carolina for second place in the Fraser Institute's 2003
measure of economic freedom.
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