Alberta Community Reviews

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Alberta Economy Alberta's economy is one of the strongest in Canada, supported by the burgeoning petroleum industry and to a lesser extent, agriculture and technology. The per capita GDP in 2007 was by far the highest of any province in Canada at C$74,825. This was 61% higher than the national average of C$46,441 and more than twice that of some of the Atlantic provinces. In 2006 the deviation from the national average was the largest for any province in Canadian history. According to the 2006 census, the median annual family income after taxes was $70,986 in Alberta (compared to $60,270 in Canada as a whole). The Calgary-Edmonton Corridor is the most urbanized region in the province and one of the densest in Canada. The region covers a distance of roughly 400 kilometres north to south. In 2001, the population of the Calgary-Edmonton Corridor was 2.15 million (72% of Alberta's population). It is also one of the fastest growing regions in the country. A 2003 study by TD Bank Financial Group found the corridor to be the only Canadian urban centre to amass a U.S. level of wealth while maintaining a Canadian style quality of life, offering universal health care benefits. The study found that GDP per capita in the corridor was 10% above average U.S. metropolitan areas and 40% above other Canadian cities at that time. The Fraser Institute states that Alberta also has very high levels of economic freedom and rates Alberta as the freest economy in Canada, and the second freest economy amongst U.S. states and Canadian provinces. Industry - Alberta is the largest producer of conventional crude oil, synthetic crude, natural gas and gas products in the country. Alberta is the world’s 2nd largest exporter of natural gas and the 4th largest producer. Two of the largest producers of petrochemicals in North America are located in central and north-central Alberta. In both Red Deer and Edmonton, world class polyethylene and vinyl manufacturers produce products shipped all over the world, and Edmonton's oil refineries provide the raw materials for a large petrochemical industry to the east of Edmonton. The Athabasca oil sands have estimated unconventional oil reserves approximately equal to the conventional oil reserves of the rest of the world, estimated to be 1.6 trillion barrels (254 km3). With the development of new extraction methods such as steam assisted gravity drainage, which was developed in Alberta, bitumen and synthetic crude oil can be produced at costs close to those of conventional crude. Many companies employ both conventional strip mining and non-conventional in situ methods to extract the bitumen from the oil sands. With current technology and at current prices, about 315 billion barrels (50 km3) of bitumen are recoverable. Fort McMurray, one of Canada's fastest growing cities, has grown enormously in recent years because of the large corporations which have taken on the task of oil production. As of late 2006 there were over $100 billion in oil sands projects under construction or in the planning stages in northeastern Alberta. Another factor determining the viability of oil extraction from the oil sands is the price of oil. The oil price increases since 2003 have made it profitable to extract this oil, which in the past would give little profit or even a loss. With concerted effort and support from the provincial government, several high-tech industries have found their birth in Alberta, notably patents related to interactive liquid crystal display systems. With a growing economy, Alberta has several financial institutions dealing with civil and private funds. Agriculture and forestry - Agriculture has a significant position in the province's economy. The province has over three million head of cattle, and Alberta beef has a healthy worldwide market. Nearly one half of all Canadian beef is produced in Alberta. Alberta is one of the top producers of plains buffalo (bison) for the consumer market. Sheep for wool and mutton are also raised. Wheat and canola are primary farm crops, with Alberta leading the provinces in spring wheat production; other grains are also prominent. Much of the farming is dryland farming, often with fallow seasons interspersed with cultivation. Continuous cropping (in which there is no fallow season) is gradually becoming a more common mode of production because of increased profits and a reduction of soil erosion. Across the province, the once common grain elevator is slowly being lost as rail lines are decreasing; farmers typically truck the grain to central points. Alberta is the leading beekeeping province of Canada, with some beekeepers wintering hives indoors in specially designed barns in southern Alberta, then migrating north during the summer into the Peace River valley where the season is short but the working days are long for honeybees to produce honey from clover and fireweed. Hybrid canola also requires bee pollination, and some beekeepers service this need. The vast northern forest reserves of softwood allow Alberta to produce large quantities of lumber, oriented strand board (OSB) and plywood, and several plants in northern Alberta supply North America and the Pacific Rim nations with bleached wood pulp and newsprint. Alberta Tourism Alberta has been a tourist destination from the early days of the twentieth century, with attractions including outdoor locales for skiing, hiking and camping, shopping locales such as West Edmonton Mall, Calgary Stampede, outdoor festivals, professional athletic events, international sporting competitions such as the Commonwealth Games and Olympic Games, as well as more eclectic attractions. There are also natural attractions like Elk Island National Park, Wood Buffalo National Park, and the Columbia Icefield. According to Alberta Economic Development, Calgary and Edmonton both host over four million visitors annually. Banff, Jasper and the Rocky Mountains are visited by about three million people per year. Alberta tourism relies heavily on Southern Ontario tourists, as well as tourists from other parts of Canada, the United States, and many international countries. Alberta's Rocky Mountains include well known tourist destinations Banff National Park and Jasper National Park. The two mountain parks are connected by the scenic Icefields Parkway. Banff is located 128 km (80 mi) west of Calgary on Highway 1, and Jasper is located 366 km (227 mi) west of Edmonton on Yellowhead Highway. Five of Canada's fourteen UNESCO World heritage sites are located within the province: Canadian Rocky Mountain Parks, Waterton-Glacier International Peace Park, Wood Buffalo National Park, Dinosaur Provincial Park and Head-Smashed-In Buffalo Jump. About 1.2 million people visit the of Calgary Stampede, a celebration of Canada's own Wild West and the cattle ranching industry. About 700,000 people enjoy Edmonton's K-Days (formerly Klondike Days and Capital EX). Edmonton was the gateway to the only all-Canadian route to the Yukon gold fields, and the only route which did not require gold-seekers to travel the exhausting and dangerous Chilkoot Pass. Another tourist destination that draws more than 650,000 visitors each year is the Drumheller Valley, located northeast of Calgary. Drumheller, "Dinosaur Capital of The World", offers the Royal Tyrrell Museum of Palaeontology. Drumheller also had a rich mining history being one of Western Canada's largest coal producers during the war years. The Canadian Badlands has much to offer in the way of attractions, cultural events, celebrations, accommodations and service. Located in east-central Alberta is Alberta Prairie Railway Excursions, a popular tourist attraction operated out of Stettler. It boasts one of the few operable steam trains in the world, offering trips through the rolling prairie scenery. Alberta Prairie Railway Excursions caters to tens of thousands of visitors every year. Alberta is an important destination for tourists who love to ski and hike; Alberta boasts several world-class ski resorts such as Sunshine Village, Lake Louise, Marmot Basin, Norquay and Nakiska. Hunters and fishermen from around the world are able to take home impressive trophies and tall tales from their experiences in Alberta's wilderness.