The Alberta Advantage

Alberta woman with a yellow jacket standing in front of a lake with her arms outstreched

What is the Alberta Advantage? 

Simply put its the things that make Alberta the best place to live, work and invest in Canada. Lower taxes, less red tape, lower cost of land to build, lower lease costs on premises, a young educated workforce, to mention just a few. Best of all a motivated provincial government that is investment friendly and Alberta is simjply a great place to live!

Discover the Alberta Advantage, a premier destination for international business expansion and relocation. Here's why investors are flocking to Alberta:

  • Tax

    Fiscal Advantages:

    Alberta boasts the lowest corporate tax rate in Canada,
    and one of the lowest in North America providing a lucrative opportunity for businesses to maximize their profits and accelerate growth. In addition, the Alberta government in its commitment to attracting business is a leader in incentives and grants to qualifying investments. New Horizon Connects stands ready to assist you maximize your fiscal advantages.

  • Pro-Business Government:

    Cutting Red Tape Bureaucracy – The Alberta government is dedicated to reducing government bureaucracy and as such has created a business-friendly environment.

    The Government of Alberta has many grants and incentives across wide range of industries to make doing business in Alberta even better.

  • Lower Real Estate Prices:

    Whether you are leasing or buying Alberta’s rates are extremely competitive. If you’re looking to build our land prices are significantly lower than cities in Canada with comparable infrastructure.

    New Horizon can Connect you with the right people to assist you with your real estate needs.

Dig a little deeper...

Tax

Alberta, home to Canada’s most business-friendly cities, boasts the lowest corporate income tax rate in Canada and among the lowest in North America with no provincial sales tax, no payroll tax, and no health-care premiums. The province also invests more per capita than any other province. 

Alberta’s corporate income tax rate of 8% positions the province with the lowest combined federal (15%) and provincial general corporate tax rate in Canada at 23%.

Additionally, Alberta has a small business tax rate of 2% for SME’s with business income of below $500K annually.
This means when combined with the federal tax rate of 9% the total is only 11% signaling a strong desire by the Alberta government to attract and support entrepreneurship and innovation.

Albertans and Alberta businesses pay the lowest overall taxes compared to other Canadian provinces.

For individuals, the flat personal income tax rate simplifies the taxation process, minimizes the taxable income burden, and makes Alberta an affordable national and international destination for professionals and entrepreneurs.

Property Taxes

Edmonton and Calgary distinguish themselves with highly competitive commercial property tax rates compared to
other major Canadian cities. These municipalities offer attractive property tax
exemptions and relief incentives extending up to 15 years, strategically crafted to attract and retain businesses.

In Calgary, the effective property tax rate stands at 0.65%, while in Edmonton, it is slightly higher at 0.94%.
These rates are structured to support commercial property owners, further enhancing Alberta's reputation as a conducive environment for business operations.

The implementation of these policies underscores the commitment of both cities to fostering a business-friendly atmosphere, encouraging growth, and bolstering economic development.

Looking to locate outside of the larger cities?
Talk to us about this, some of the more rural locations are very receptive to investment and have some very favorable options available.

 E&OE

Banking & FinTech:

Calgary, Alberta's largest city,
boasts the highest concentration of corporate headquarters in Canada and is
home to seven of the top ten global banks.

Alberta is rapidly emerging as a frontrunner in fintech and blockchain technology adoption, with over 150 fintech firms calling the province home. Calgary and Edmonton are pivotal hubs for innovation in the financial services sector.

Pioneering the way forward, Alberta introduced the Financial Innovation Act, establishing the country's first regulatory sandbox environment for innovative financial services and fintech development.

With its favorable business costs and access to capital from corporate giants, Alberta stands out as a prime destination for financial firms seeking a supportive environment to thrive.

Commercial Real Estate Prices:

Alberta stands out as a prime destination for savvy investors, offering not just affordability in living, but also a compelling landscape for commercial and industrial real estate opportunities. In our major cities, you'll find an abundance of high-quality commercial spaces, coupled with the most competitive rates for downtown office Class A rentals nationwide.

According to the Atlas Group’s market update in January 2024, “The Vancouver market reported the lowest office availability rate at 12.2%, followed by Quebec City and Ottawa, respectively. While the Calgary market continued to have the highest availability at 23.8%, at the same time, it continued to drop. This can be attributed to the city’s Downtown Calgary Development Incentive Program which helped to gradually remove underutilized and vacant spaces from the market’s inventory and increased leasing activity.”

Commercial Real Estate Rental
Comparison: The Ontario average commercial/retail lease rate was $26.80/sq’ in Q4 of 2023.

In Calgary office space in the suburbs range from $10 per square foot to $15 per square foot. (Remax- March 2024)

Commercial Real Estate Purchase Comparison (March 2024): Toronto - $850/sq’,
Montreal - $564/Sq’, Vancouver – Prices start at $1500/sq’ by comparison
Calgary - $375/sq’ , Edmonton - $388/sq’

Industrial Real Estate Purchase Comparison (March 2024): Calgary average
$730K/acre, Edmonton $550 – 750K/acre depending on if it’s in the city or close surrounding area, Lethbridge is approximately $245K / acre. More rural towns in Alberta can be less than $100K/ acre.

By comparison; Toronto: $3.5 - 5M an acre, Vancouver around
$5M/acre, Montreal ranges between $1 -2M/acre. Alberta represents a significant
savings just in land costs alone to any new project or company looking to relocate or expand. In addition companies may qualify for incentives and grants
depending on the projects location in Alberta.

Industrial Real Estate Rental
Comparison (March 2024): The Toronto GTA average
industrial lease rate for approximately 2023 was $18.68/sq’ .  In Vancouver, the average asking rent for industrial space is $23.38 per square foot.

By comparison, the Calgary industrial lease rate is on average around: $13.23/sq’ and Edmonton is around: $10.41/sq’. This can be a significant saving for those wishing to lease industrial property.

 E&OE

Property Tax Estimator: https://wowa.ca/calculators/property-tax

  • Labor Force:

    Alberta is home to a young highly skilled and educated workforce, equipped with the expertise needed to drive innovation and propel businesses to new heights.

    It has the country's highest average annual population growth and the most post-secondary educated workers
    and engineers per capita, our province is a breeding ground for innovation.

  • Diverse Investment Opportunities:

    From technology and financial services to aviation, logistics, energy, clean tech, petrochemicals, hydrogen, AI tech, bio tech, blockchain tech and agriculture.


    Alberta offers a diverse range of investment opportunities to suit various business interests.

  • Stability Amidst Opportunities:

    Alberta's economy, as stable as its breathtaking landscapes, is fortified by continued investment in key sectors, ensuring long-term growth and prosperity for businesses.

    Join us in Alberta and seize the unparalleled opportunities that await in Canada's most dynamic business hub. Let's embark on a journey of success together.
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Drill down...

Labor Force:

Alberta boasts the youngest and fastest-growing workforce in Canada, fueled by smart,
skilled talent. With the country's highest average annual population growth and
the most post-secondary educated workers and engineers per capita, our province is a breeding ground for innovation.

Calgary, our leading city, stands out for its highest concentration of STEM (Science, Technology, Engineering, and Mathematics) degree completions nationwide. Alberta hosts esteemed educational institutions like the University of Alberta, ranked in Canada's top five universities, and the Northern Alberta Institute of Technology (NAIT), recognized for its tech and apprentice programs. Additionally, Alberta boasts two of the nation’s top 10 business schools.

These exceptional post-secondary institutions attract tens of thousands of
international students annually. As of 2021, an impressive 64.8% of Albertans aged 25 to 64 have completed post secondary programs, underscoring our province's commitment to education and skill development. Alberta’s commitment to education is matched by robust workforce training initiatives, bolstered by
strong immigration pathways. Coupled with an affordable cost of living, Alberta stands as a vibrant multicultural hub, attracting talent from around the globe.

To further support businesses in harnessing this rich talent pool, Alberta has launched Workforce Strategies, a groundbreaking $600 million program dedicated to facilitating employee hiring and training. Discover more about this initiative today.

With the third highest percentage of landed immigrants in the working age population and a steady influx of newcomers, Alberta remains a beacon of opportunity, welcoming 43,694 new immigrants in Canada in 2019 alone.

The Alberta government stands ready to assist in finding qualified workers and has programs in place to assist with visas for foreign workers. In addition to this there are several incentive grants to assist with new hires and the training of new employees.

Labor Force Takeaways:

Youngest: Highest proportion of workers under the age of 45 in Canada.

Brightest: 64.8% of Albertans are post-secondary educated.

Diversity: 1 in 5 Albertans are born outside of Canada.

Best Places to Work: Edmonton was ranked one of the best cities in Canada for
youth to work.

Most Engineers: Alberta has the most engineers per capita in Canada.

Education: Alberta has 2 of the top 10 business schools in Canada.

Most Happy: Alberta has the most affluent workforce in Canada due to our low taxes and cost of living.

Cost of Living:

Alberta offers a unique tax advantage with no provincial sales tax (PST), payroll tax, or health premium, coupled with a low personal income tax rate. Unlike residents of other provinces who may face taxes up to 10%, Albertans only pay the standard 5% Goods and Services Tax (GST) applied across Canada.

Furthermore, the province ensures comprehensive health coverage, granting easy access to hospitals, clinics, physicians, and other essential services. Alongside this, Albertans benefit from a top-tier public school system, internationally recognized for its quality education.

Mercer carried out an extensive cost of living survey for overseas workers in 2020. The survey covers 209 cities and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.

The survey revealed that Vancouver (94th) has the highest cost of living in Canada, followed by Toronto (98th), Montreal (139th), Calgary (153th) and Ottawa (161th).

The survey found that Canadian cities have lower living costs than many other locations in the developed world.

The rankings for Canadian cities out of the 209 major global cities surveyed are:

Vancouver (94th)

Toronto (98th)

Montreal (139th)

Calgary (153th)

Source:
https://www.livingin-canada.com/cost-of-living-in-canada.html

Staff Housing:

The Canadian national mean average house price is $685K. B.C.'s housing prices are also the most expensive in the country, with a median price of $957K and Vancouver at $1,276M in March 2024.

By comparison Alberta’s average home price is around $420K with Calgary’s average
house price is $583K is lower than the national average, while Edmonton is lower still at $407K.

Source: Wowa.ca https://wowa.ca/reports/canada-housing-market.

According to the Rent Report, Vancouver is Canada's most expensive city to rent both a
one-bedroom or a two-bedroom apartment, While Calgary came in at a distant 26th place and Edmonton one of the least expensive in major Canadian cities in 32nd
place out of 35 cities in Canada. - March 29th, 2024 https://rentals.ca/national-rent-report

With housing being the #1 investment for most people, affordable housing is a major incentive to move to Alberta.

Housing Stats: https://www.statista.com/statistics/589466/most-expensive-cities-to-rent-one-bedroom-apartment-canada/#:~:text=Most%20expensive%20cities%20to%20rent%201%2Dbedroom%20apartment%20in%20Canada%202024&text=Vancouver%20was%20the%20most%20expensive,rent%20of%202%2C048%20Canadian%20dollars.

Standard of Living:

Welcome to Alberta, where our lower taxes mean paychecks go further and home ownership is more affordable.
The average home in Alberta is $420,000. compared to the national average of $685,000. CAD.

Our motto is "work hard, play hard," and the opportunities for both are boundless. Our province boasts breathtaking landscapes, from rolling foothills to snowcapped
mountains with pristine lakes.

We are privileged to experience all four seasons, offering residents the chance to indulge in skiing at top ranked resorts like Banff in the winter, and exploring stunning waterfalls and national parks in the summer.

In Alberta, we pride ourselves on our quality of life. Calgary shines as the most livable city in Canada, renowned for its vibrant culture and dynamic economy, home to “The
Greatest Show on Earth”, the Calgary Stampede.

Not to be outdone, Edmonton
offers affordability without compromise, ranked as the most affordable city in Canada. It features the largest urban park in the country, the largest indoor mall in North America, a burgeoning culinary scene, and over 50 annual festivals to enjoy.

 From our tranquil small
towns to our bustling cities, Alberta exudes safety, cleanliness, and a welcoming atmosphere. Whether you seek serenity or excitement, Alberta is calling you home.

Join us in Alberta, where every day offers new adventures and endless possibilities.

See what they're saying....

  • DanielleSmith - Premier of Alberta, Our province boasts the most investment-friendly environment in Canada.
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