Economic Environment
Now is the time to invest in the Airdrie economy. With record-breaking growth over the past 10 years and our location within a strong regional and provincial economy, Airdrie is the smart choice for business investment.
Strong Local Economy
Year over year, Airdrie posts strong economic results. With a growing population, increasing employment opportunities, close proximity to Calgary, and a strong provincial economy, Airdrie is poised to continue to grow.
Airdrie Economic Indicators, 2007 to 2011
| Indicator | 2007 | 2008 | 2009 | 2010 | 2011 |
|---|---|---|---|---|---|
| Population | 31,512 | 34,116 | 38,091 | 39,822 | 43,155 |
| Population Growth (%) |
8.53% | 8.26% | 11.65% | 4.54% | 8.37% |
| Housing Permits (#) (# of units R-1 to R-5) |
1,786 | 568 | 816 | 993 | 1,070 |
| Residential Sales (# of units R-1 to R-5) |
1,376 | 947 | 968 | 880 | 768 |
| Residential Average Sale Price (Single Family Dwelling) |
$377,236 | $379,581 | $348,971 | $362,978 | $360,836 |
| Residential Average Sale Price (Condominium) |
$259,698 | $255,657 | $227,362 | $216,761 | $210,303 |
| Residential Building Construction Value ($) |
$304,005,089 | $119,665,628 | $151,217,157 | $188,661,501 | $187,056,526 |
| Commercial/Industrial Permits (#) |
111 | 107 | 132 | 280 | 171 |
| Commercial/Industrial Construction Value ($) (Does not include HVAC) |
$124,598,497 | $57,157,855 | $38,305,547 | $56,300,838 | $71,998,710 |
| Property Tax Rate |
0.012047810 | 0.0100419 | 0.00972886 | 0.01065373 | 0.01090303 |
| Total Business Licenses (#) | 2,063 | 2,268 | 2,383 | 2,564 | 2,695 |
Sources: City of Airdrie Planning, Building Inspections and Civic Census, 2011; RE/MAX Rocky View (2007-2010), The Carre Group
Visit the Resources, Stats & Publications page for details.
Drawing on Regional Strengths
Airdrie benefits greatly from its location within a strong regional economy. With Calgary on our doorstep, businesses and residents have access to services and opportunities in Western Canada's business centre. With an estimated 3.4% Real GDP growth rate, Calgary ranked first among Canadian cities in 2007. Airdrie's economic environment is closely linked to Calgary's and we work closely with Calgary to ensure the continued success of the region.
For more on Calgary, visit Calgary Economic Development. For more on the Calgary region, visit the Calgary Region Economic Partnership.
Unparallelled Provincial Economy
Alberta has recorded the highest rate of economic growth rate in Canada with an average growth rate of 4.7% per year.
From staggering employment growth to an expanding manufacturing base to the doubling of exports of goods and services in 10 years, Alberta is the nation's fastest growing economy.
Alberta's Positive Business Climate
- The lowest overall taxes in Canada.
- No provincial sales tax (the only province in Canada without one).
- No general capital or payroll taxes prevalent in other provinces and U.S. states.
- A highly entrepreneurial and competitive business community.
- A highly skilled, educated, and motivated workforce that is the most productive in Canada.
- World-class infrastructure to support business, including transportation, telecommunications, and utilities, as well as excellent hospitals, schools, and post-secondary institutions.
Alberta's Natural Advantages
- An abundance of energy reserves that fuel a thriving oil and gas industry.
- An abundance of forest reserves to responsibly meet the needs of a growing forest products industry.
- Excellent farm land, which supports world-class agriculture production.
- Clean air and water, unmatched scenery, and culturally diverse communities with a quality of life second to none.
For more, visit www.albertacanada.com.
Canada: A Sound Investment
Airdrie and Alberta are backed by a solid national economy. According to the Economic Intelligence Unit's global business rankings forecast for 2008-2012, Canada ranks first in the G7 as "the best place to invest and do business."
In 2006, Alberta ranked second compared to 14 OECD nations in an international comparison of economic well being. (Measures consumption flows, wealth stocks, income distribution, and economic security.)
Source: Centre for the Study of Living Standards
For more on Canada's Competitive Advantages, visit www.investincanada.gc.ca.