Edmonton Economic Outlook - Part One

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The economic outlook for Alberta looks very bright, and it looks like we will be isolated from any recession that might be experienced by the rest of North America. This will be driven by the strong oil and gas industry here in Alberta.

If Alberta was an independent country on a per capital basis the Edmonton - Calgary corridor would today be the world’s #1 economy.

Over $200 billion has already been committed to be spent in our service area by the following companies:

• Canadian Natural Resources
• Suncor Energy
• Shell Canada/Chevron
• Syncrude Canada
• ConocoPhillips Canada
• Alberta Infrastructure & Transportation
• OPTI Canada/Nexen Inc.
• SynEnCo Energy
• Petro-Canada Oil & Gas
• North West Upgrading

It is expected that Ft. McMurray will require an additional 400,000 workers in the next 10 years. Many of those workers will be living here in Edmonton and contributing to our local economy directly.

Lets not forget that 2 new oil and gas refineries, and one new upgrader are going to start construction in the next 5 years here between Edmonton and Red Water. That alone could be responsible for a significant boom here in Edmonton.