For Immediate Release | May 28, 2019
City of St. Albert Releases Regional 2018 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 2019. 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.
“St. Albert has seen an increase in business licenses and a corresponding increase in locally employed residents,” says St. Albert Mayor Cathy Heron. “In addition, new retail, food and entertainment establishments provide more choices for residents.”
The 36-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.
- The Alberta economy stabilized in 2018, with growth returning to the energy, manufacturing and agricultural sectors, along with increases in job creation.
- The number of licensed businesses in St. Albert continues to grow, increasing 2.3 per cent between 2017 and 2018.
- Ongoing commercial construction, which has been increasing an average of 103,000 square feet per year from 1998 to 2018, illustrates the stability of the St. Albert market.
The report, which is now available on the City 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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