Key Industry Sectors & Opportunities
The BRAED region has a thriving economy that is largely resource based. There are opportunities for the petroleum sector, value-added agriculture, tourism and manufacturing.
To view a list of current projects in the region visit www.albertacanada.com/documents/SP_MajorAlbertaProjects.pdf.
Agriculture
See The Battle River Country Ag Advantage for a detailed description of the Battle River Country Agricultural Advantage.
Petroleum Resources
Overview
Energy is the engine of Alberta’s economy. Alberta produces 70% of Canada’s crude oil and 80% of its natural gas. Including oil sands, Alberta has the second largest petroleum reserves in the world, second only to Saudi Arabia. Production from oil sands is expected to nearly triple from current production of 1.1 million barrels per day to close to 3.0 million barrels per day by 2015. Gross revenues from all hydrocarbons were $79.1 billion in 2006, with natural gas revenues accounting for more than half of the total.
In 2006, energy resource exports accounted for $56.8 billion of Alberta’s exports, about 64 per cent of Alberta’s total exports of goods and services in that year. High oil and gas prices were the key drivers of the dominance of energy exports. (Highlights of the Alberta Economy 2007, Alberta Government, http://www.alberta-canada.com/statpub/economicHighlights/pdf/highlightABEconomy.pdf, pg12)
Opportunities
- Petroleum Processing
For more information about petroleum resource opportunities in this region, contact the BRAED office.
Success Stories
Using the Share BRAED strategy previously developed, companies showcased in the BRAED Knotice can also be used to build the success stories section of the website.
Manufacturing
Overview
Between 1996 and 2006, Alberta’s manufacturing shipments more than doubled to $64.4 billion. In 2006, Alberta led all Canadian provinces in manufacturing shipment growth, increasing 6.8 per cent from 2005, compared to a decline of 0.6 per cent for the nation. Real manufacturing output in Alberta has gained momentum since 2004, expanding by 6.5 per cent in 2004 and 6.3 per cent in 2005. By comparison, Canadian manufacturing output grew by less than two per cent over the same period.
Alberta’s manufacturing sector is closely tied to the resource sector. About two-thirds of manufacturing output consists of value-added resource products such as petrochemicals, forest products and processed food. In 2006, the largest manufacturing sectors were chemicals, refined petroleum products, and food and beverages. Thanks to the booming economy, almost all manufacturing sectors posted growth in 2006, led by machinery, fabricated metals, chemicals, and primary metals. (Highlights of the Alberta Economy 2007, Alberta Government, http://www.alberta-canada.com/statpub/economicHighlights/pdf/highlightABEconomy.pdf, pg15)
Opportunities
For more information about manufacturing opportunities in this region, contact the BRAED office.
Success Stories
Using the Share BRAED strategy previously developed, companies showcased in the BRAED Knotice can also be used to build the success stories section of the website.
