Central Alberta is made up of small and large businesses from a wide range of industries including, manufacturing, agriculture & agri-foods, oil & gas, petrochemical and transportation & logistics.
Central Alberta’s economic growth and prosperity comes from collaboration between various industries, which offers support for businesses of any size.
- In Alberta Energy accounts for about one-quarter of the province’s Gross Domestic Product (GDP), down from 36% three decades ago.
- Other sectors have shown considerable growth over the past two decades. From 1985 to 2014 the following non-energy sectors grew strongly:
- Construction sector from 6.7 per cent share of GDP in 1985 to 10.8 per cent in 2014.
- Finance and real estate sector from 11.0 per cent to 13.5 per cent.
- Business and commercial services sector from 5.5 per cent to 10.2 per cent.
Central Alberta has a broad manufacturing base, with a large number of fabricated metals and machinery manufacturers which are closely tied to the oil and gas industry. Our manufacturing industry continues to grow and diversify into efficient suppliers of specialized products.
The Central Alberta region is Alberta’s second largest agricultural region and includes livestock, plant, food processing, natural health products and biofuels.
Oil & Gas
73% of Canada’s petroleum production, drilling, and investment spending occurs in Alberta. Central Alberta plays an integral role in this industry by leveraging our location, space, and skilled workforce; and by serving as headquarters for many drilling and service companies.
Alberta’s chemical and petrochemical industry produces over $9.5 billion worth of products annually. Central Alberta is home to a petrochemical cluster of approximately 36 of these manufacturers.
Central Alberta is located along the Queen Elizabeth II Highway corridor, which connects over 74% of Alberta’s population, allowing easy access to major markets.
Economic Diversity: 2015
Percentage Distribution of GDP
Total GDP: $333.1 Billion (values in %)
Sources: Alberta Treasury Board and Finance and Alberta Economic Development and Trade