Highlights of the Alberta Economy Alberta Innovation and Advanced Education

Transcription

1 Highlights of the Economy 2014 Innovation and Advanced Education

2 Table of Contents Economic Highlights Growth Economic prosperity Attractive Investment Climate Exports A Diversified and Resourcebased Economy Energy Agriculture Manufacturing Advanced Technology Broadband Usage Financial Services Tourism Doing Business in Competitiveness Entrepreneurship Research and Development Government Competitive Corporate Taxes Provincial and State Corporate Taxes Educated Work Force

3 Table of Contents Working in Strong Labour Market Low Personal Taxes Family Income Standard of Living Online Resources Living in People Education Quality Education Health Care Arts and Culture Donations and Volunteerism

4 : The Best Place to Live, Work and Do Business

5 Economic Highlights Growth Growth In Selected Indicators: Per Cent Change Population Employment Canada GDP Goods Exports Investment Source: Statistics Canada and Innovation and Advanced Education

6 Economic Highlights Economic Prosperity Economic Diversity: 1985 Percentage Distribution of GDP Total GDP: $67.6 Billion Economic Diversity: 2013 Percentage Distribution of GDP Total GDP: $331.9 Billion Agriculture 3.0% Health 3.6% Education 3.6% Public Administration 4.8% Retail & Wholesale 8.1% Construction 6.7% Energy 36.1% Agriculture 1.9% Health 5.0% Education 3.6% Public Administration 4.4% Construction 10.7% Energy 24.6% Manufacturing 6.9% Tourism & Consumer Services 3.8% Finance & Real Estate 11.0% Business & Commercial Services 5.5% Manufacturing 6.0% Transportation & Utilities 7.7% Retail & Wholesale 8.7% Tourism & Consumer Services 4.4% Finance & Real Estate 13.5% Business & Commercial Services 10.6% Transportation & Utilities 6.0% Sources: Statistics Canada and Innovation and Advanced Education

7 Economic Highlights Attractive Investment Climate Per Capita Investment (2013) Newfoundland & Labrador Saskatchewan Canada British Columbia Manitoba Quebec Ontario Nova Scotia Prince Edward Island New Brunswick $11,342 $10,363 $9,943 $8,241 $8,209 $7,346 $6,677 $5,975 $19,259 $23,408 $27,617 Sources: Statistics Canada and Innovation and Advanced Education

8 Economic Highlights Exports s Major Exports 2013 Total Exports of Goods ($103.7 Billion*) Crude Petroleum 64.4 Gas and Gas Liquids Petrochemicals Crops & Livestock Metals & Machinery Processed Food & Beverages Forestry Products Refined Petroleum Products Electronic & Electrical Products Sulphur & Coal Others $ Billions * Exports of services are not included in this estimate Sources: Statistics Canada and Innovation and Advanced Education

9 A Diversified and Resource-based Economy Energy s Energy Revenues 2013 Total: $96.3 Billion s Energy Exports 2013 Total: $75.2 Billion Natural Gas & Gas Liquids 20.9% Coal and Sulpur 1.2% Convention al Crude Oil 18.3% Natural Gas & Gas Liquids 13.3% Coal and Sulphur 1.1% Oil Sands 59.6% Crude Oil 86.1% Sources: Statistics Canada, Energy Regulator, Innovation and Advanced Education

10 A Diversified and Resource-based Economy Agriculture s Major Agricultural Products 2013 Farm Cash Receipts ($ Billions) Total: $11.8 Billion Beef Cattle 3.28 Canola & Flax 2.63 Wheat (incl. Durum) 2.28 Dairy Hogs Oats, Rye & Barley Other* 2.22 *Includes specialty cash crops, honey, poultry, eggs, program payments, etc. Source: Statistics Canada

11 A Diversified and Resource-based Economy Manufacturing Value of Manufacturing Shipments in 2013 Total: $73.8 Billion Refined Petroleum 20.4 Food & Beverage 12.5 Chemical Products 12.3 Machinery 7.6 Fabricated Metals 5.9 Wood Products 3.6 Construction Materials Plastics & Rubber Electronic & Electrical Products $ Billions Other Manufacturing 6.3 Source: Statistics Canada

12 A Diversified and Resource-based Economy Advanced Technology Broadband Usage Korea Norway Germany Canada Broadband Usage International 2011 Percentage of Households Accessing the Internet by Broadband France 70 Japan Italy Broadband Usage Canada 2011 Percentage of Households Accessing the Internet by Broadband Sources: Statistics Canada and OECD British Columbia Ontario Canada Nova Scotia Saskatchewan Prince Edward Island Newfoundland and Labrador Manitoba New Brunswick Quebec

13 A Diversified and Resource-based Economy Financial Services 36.9 Ontario Canada Financial Services Employment Growth Percentage increase in Employment British Columbia 21.4 Quebec British Columbia 37.0 Financial Services GDP Growth Percentage increase in GDP Canada Ontario Source: Statistics Canada Quebec 25.7

14 A Diversified and Resource-based Economy Tourism Tourism Expenditures by Visitor Origin (2011) Total: $7.8 Billion United States 7% Overseas 9% Other Canada 19% 65% Source: Statistics Canada and Tourism, Parks and Recreation

15 Doing Business in Competitiveness Business Sector Labour Productivity 2013 Real GDP per Hour Worked, in 2007 constant dollars Newfoundland and Labrador $69.60 $73.90 Saskatchewan $57.60 Canada Manitoba Ontario British Columbia Quebec $48.30 $44.80 $44.60 $44.20 $43.80 Nova Scotia New Brunswick Prince Edward Island $27.90 $35.80 $35.20 Source: Statistics Canada

16 Doing Business in Entrepreneurship Small Business Cornerstone of the Economy Percentage Change in Small Business Establishments (Less than 50 Employees) 19.8% 18.5% Ontario 14.0% 12.1% British Columbia Canada 6.6% 4.1% 2.6% 1.4% Manitoba Quebec Newfoundland and Labrador Saskatchewan -3.9% -1.5% Nova Scotia New Brunswick -14.7% Prince Edward Island Source: Canadian Business Patterns, Statistics Canada

17 Doing Business in Research & Development Under the banner Innovates, the government created new organizations that focus s provincial research efforts in the areas of agriculture, forestry, energy and environment, health, and technology commercialization. They Include: Bio Solutions Energy and Environment Solutions Health Solutions Technology Futures Research and Innovation Authority

18 Doing Business in Government Provincial Net Financial Assets/Debt as a per cent of GDP ( ) 2.2% -5.2% Saskatchewan -17.4% British Columbia -24.8% Newfoundland and Labrador -35.6% -35.8% -28.8% Manitoba Nova Scotia Prince Edward Island -36.8% New Brunswick -36.8% -39.4% Canada Ontario -49.5% Québec Source: Conference Board of Canada

19 Doing Business in Competitive Corporate Taxes Comparison of Corporate Income Taxes United States January % 6.2% 39.0%* January % 10.0% 25.0% Federal Provincial / State *6.2% represents the average top general state corporate income tax rate Source: Innovation and Advanced Education, Tax Foundation and Federation of Tax Administrators

20 Doing Business in Provincial & State Corporate Taxes Province Provincial Corporate Income Tax Rates (per cent) General Manufacturing & Processing Small Business State General State Corporate Income Tax Rates (per cent) Manufacturing & Processing Small Business Oregon British Columbia California New Brunswick North Dakota Quebec Montana Manitoba Idaho Saskatchewan Colorado Ontario Utah Newfoundland & Labrador New Mexico Prince Edward Island Louisiana Nova Scotia Arizona Federal Federal Note: Rates as of January, 2014 The small business rate is the effective tax rate for US$466,066 (comparable to the Canadian threshold of Cdn$500,000) The small business income threshold for Nova Scotia and Manitoba is Cdn$350,000 and $400,000, respectively. For all other provinces the small business income threshold is Cdn$500,000 Source: Canada Revenue Agency, Federation of Tax Administrators

21 Doing Business in Educated Work Force Composite Learning Index 2010 Ontario British Columbia Saskatchewan Manitoba Canada Nova Scotia Prince Edward Island Quebec New Brunswick Newfoundland and Labrador Source: Canadian Council on Learning

22 Working in Strong Labour Market Unemployment Rates (%) by Province: (average) and 2013 Saskatchewan Manitoba British Columbia Canada Ontario Quebec Nova Scotia New Brunswick Newfoundland & Labrador Prince Edward Island Source: Statistics Canada

23 Working in Low Personal Taxes Top Marginal Personal Income Tax Rates % 10.0% 39.0% Newfoundland & Labrador 29.0% 13.3% 42.3% Saskatchewan 29.0% 15.0% 44.0% British Columbia 29.0% 16.8% 45.8% Manitoba 29.0% 17.4% 46.4% New Brunswick 29.0% 17.8% 46.8% Prince Edward Island* 29.0% 18.4% 47.4% Ontario* 29.0% 20.5% 49.5% Quebec** 24.2% 25.8% 50.0% Nova Scotia 29.0% 21.0% 50.0% * Prince Edward Island and Ontario s top provincial rates include a surtax ** Quebec residents receive an abatement of 16.5% of basic federal tax because of the province s decision to opt out of federal cash transfers in support of provincial programs Source: KPMG

24 Working in Low Personal Taxes Saskatchewan British Columbia $5,258 $7,474 $7,936 $21,046 $23,302 $23,763 $ $ Ontario $9,272 $25,106 Comparison of Provincial and Federal Taxes by Province Two-Income Family of Four $100,000* Newfoundland & Labrador New Brunswick Manitoba Prince Edward Island $10,359 $10,635 $11,268 $11,658 $26,157 $26,414 $27,040 $27,422 Nova Scotia $12,159 $27,922 Québec Total Federal Tax $13,293 Total Provincial Tax $29,469 $13,680 $51,227 British Columbia $17,278 $54,842 Saskatchewan $19,797 $57,293 Ontario $23,019 $60,530 Comparison of Provincial and Federal Taxes by Province Two-Income Family of Four $200,000* Newfoundland & Labrador New Brunswick Manitoba Prince Edward Island $23,957 $25,650 $26,893 $27,236 $61,422 $63,055 $64,288 $64,619 Nova Scotia $28,591 $65,960 Québec $33,624 $71,553 Total Federal Tax Total Provincial Tax Source: Treasury Board and Finance (* as of June 2014) Note: Comparisons are for a family with a 60/40 income split and two children aged 6 and 12. It includes the impact of income taxes, sales taxes, fuel taxes, health premiums and payroll taxes

25 Working in Family Income 2011 Median After-Tax Family Income Families with Two Persons or More $83,800 Saskatchewan Ontario British Columbia Canada Manitoba Nova Scotia Newfoundland and Labrador Quebec New Brunswick Prince Edward Island $75,000 $70,400 $69,700 $68,000 $65,300 $61,100 $60,300 $60,000 $60,000 $59,500 Source: Statistics Canada

26 Working in Standard of Living Index of Economic Well-Being Provincial Comparison, 2012 Index of Economic Well-Being International Comparison, 2012 Saskatchewan Newfoundland Norway Belgium Germany Canada Manitoba Netherlands Finland Sweden Ontario British Columbia Quebec France Denmark United Kingdom Canada New Brunswick Nova Scotia Prince Edward Island Australia United States Italy Spain Source: Centre for the Study of Living Standards

27 Living in People Population by Ethnic Origin, 2011 Ethnic Origin Number % of Total Population Ethnic Origin Number % of Total Population Totals 3,567, % Total 3,567, % English 886, % Russian 99, % Canadian 776, % Swedish 96, % German 683, % Métis 94, % Scottish 670, % Italian 88, % Irish 565, % British Isles 79, % French 396, % Welsh 75, % Ukrainian 345, % American 71, % Dutch 182, % Danish 59, % North American Indian 177, % Hungarian 52, % Polish 174, % Spanish 39, % Chinese 155, % Austrian 36, % Norwegian 152, % Vietnamese 32, % East Indian 125, % Romanian 29, % Filipino 113, % Lebanese 25, % Note: These numbers add up to more than the total population due to multiple responses Source: Statistics Canada, 2011 Census of Population

28 Living in Education Comprehensive Academic & Research Institutions Baccalaureate & Applied Studies Institutions Polytechnical Institutions Comprehensive Community Institutions Independent Academic Institutions Specialized Arts & Culture Institutions University of ; University of Calgary; University of Lethbridge; Athabasca University Grant MacEwan University; Mount Royal University Northern Institute of Technology; Southern Institute of Technology Bow Valley College; Grand Prairie Regional College; Keyano College; Lakeland College; Lethbridge College; Medicine Hat College; NorQuest College; Northern Lakes College; Olds College; Portage College; Red Deer College Ambrose University College; Canadian University College; Concordia University College of ; The King s University College; St. Mary s University College College of Art and Design; The Banff Centre

29 Living in Quality Education Top Scores in Mathematics, Science and Reading 2012 Program for International Student Assessment (PISA) Examinations Average = 500 Mathematics Science Reading Rank Jurisdiction Score Rank Jurisdiction Score Rank Jurisdiction Score 1 Shanghai-China Shanghai-China Shanghai-China Singapore Hong Kong-China Hong Kong-China Hong Kong-China Singapore Singapore Chinese Taipei Japan Japan Korea Finland Korea Macao-China British Columbia British Columbia Japan Estonia Ontario Quebec Liechtenstein Korea Finland Switzerland Vietnam Ireland Canada Ontario Chinese Taipei Canada Canada United States United States United States PISA tests 15 year olds' Mathematics, Science and Reading skills 2. The rank is out of 75 jurisdictions Source: Measuring Up: Canadian Results of the OECD PISA Study, Council of Ministers of Education, Canada

30 Living in Health Care Selected Health Indicators Per Capita Government Health Expenditures ($ 000s)*** Canada** 30 Day In-Hospital Mortality Rate from Heart Attack* ( ) Day In-Hospital Mortality Rate from Stroke* ( ) *Note: Risk Adjusted Percentages **Canada data do not include Quebec due to differences in data collection ***Preliminary Sources: National Health Expenditure Trends, , Canadian Institute of Health Information (CIHI); Health Indicators 2013 Report,(CIHI), Statistics Canada

31 Living in Arts and Culture Private Sector Support of Performing Arts (2010) Per Capita Average Household Spending on Live Sporting and Performing Arts Events: 2011 (Annual Dollars) Ontario British Columbia Manitoba Quebec Saskatchewan Newfoundland and Nova Scotia $1.44 $2.29 $2.22 $3.55 $3.98 $5.12 $5.11 $5.98 British Columbia Manitoba Canada Saskatchewan Ontario Nova Scotia New Brunswick Quebec $113 $105 $99 $90 $72 $71 $183 $181 $173 Newfoundland and Labrador $56 Note: Excludes statistics for Prince Edward Island and New Brunswick which were suppressed for confidentiality reasons Note: Excludes statistics for Prince Edward Island which were too unreliable to publish Source: Statistics Canada

32 Living in Donations and Volunteerism Charitable Donor Statistics Average Annual Donations, 2010 Prince Edward Island British Columbia Manitoba Saskatchewan Newfoundland and Labrador Ontario Nova Scotia New Brunswick $390 $390 $370 $360 $340 $340 $320 $310 $300 Canada $260 Quebec $130 Source: Canada Survey of Giving, Volunteering and Participating, Statistics Canada

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