Canada, the world’s second largest country by size, has a population of 33 million and leads all of the G7 countries by having a national budget surplus since 2005. Its economy has remained unscathed from the turmoil of the sub-prime mortgage crisis of the United States. As of October 2007, Canada’s national unemployment rate, at 5.9% has been its lowest in 33 years. Its inflation rate has averaged at 2.2% over the past five years as compared to that of 2.6% for the U.S.

Alberta, with a population of 3.5 million, leads all Canadian provinces by having the highest real GDP growth, highest GDP per capita, lowest unemployment rate and lowest provincial taxes. In 2006 alone, over 10,000 people migrated to Alberta and over 85,000 new jobs were created, leading to a surge in real estate prices. Alberta enjoyed a debt-free economy with a surplus in excess of $7.44 billion CDN for FY 2006. Alberta’s economy is driven by over $130 billion CDN* investments in Oil Sands projects to date, with more projects likely to be announced in the future. The City of Edmonton, the capital of Alberta, is the nearest urban centre to the Oil Sands development, and is the second most populous provincial capital in Canada, only second to Toronto.

*Canadian dollar value hovers just under the US dollar value

Edmonton, is located on the North Saskatchewan River, which cuts through the city, in the central region of Alberta. With a population of over 730,000 (2006) in the City and over 1 million in its metropolitan area, Edmonton is the northernmost North American city with a metropolitan population of over a million. At over 680 km2, its area spans greater than Chicago, Toronto, or Montreal. The forecast of Edmonton’s GDP in 2007 was at $44.1 billion CDN, a 3.6% increase over 2006.

Edmonton acts as the hub for Albertan petrochemical industries, and oil industry forms the core of Edmonton’s economy. Despite the seeming reliance on oil and gas industries, Edmonton’s economy is also the second most diverse in Canada as of 2008.

The Greater Edmonton Area also includes major investments in Oil and Gas. Fort Saskatchewan , just to the north-east of Edmonton, has 9 oil upgraders being constructed, at an initial capital cost of over $25 billion. Many of these upgraders will be constructed and operation will be started only around 2013.

© S & D International Group Inc.
http://www.edmonton.com/statistics
S&D also has multiple projects in the very center of the city of Fort Saskatchewan.