For Immediate Release | July 06, 2018
City of St. Albert Releases Regional 2017 State of the Economy
Highlighting economic indicators impacting St. Albert and region
The City of St. Albert has released its full State of the Economy Report, elements of which were first presented at the City’s Economic Development Business Breakfast early in 2018. The report gives a high-level overview of economic indicators from an international and national level, then focuses on the provincial, regional and local St. Albert economy.
“It is clear, through the findings in this report, that the City of St. Albert is committed to a sustainable community vision, supporting balanced development, the natural environment, and culture,” says Mayor Heron. “We are uniquely positioned as a leading example of smart, steady growth in the province and that position will guide us into the future.”
The 35-page report was prepared by the City based on publicly available provincial and national data, primarily from Statistics Canada, and translated into charts and graphs to help visualize the information at a provincial, regional and local level. It is meant to inform businesses and community organizations about economic factors that help them plan and prepare for the future.
- Alberta is no longer in a recession and St. Albert is faring well with the province’s return to economic growth.
- After three years of decreases, St. Albert is seeing a strong increase in residential building permit values, with a shift toward more multi-family housing.
- Ongoing commercial and industrial construction illustrates the stability of the St. Albert market.
The report, which is now available on the City of St. Albert’s website, is intended to be used as a tool to inform future decisions, however, residents and local businesses can also reach out to the Economic Development department should they have questions specific to their industry and circumstance.
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