Alberta’s other economic opportunities

Despite climbing oil prices, Alberta’s oil and gas industry – while still the single-largest sector of the provincial economy – has been slowly contracting for years. Last year it made up 27.6% of the province’s GDP, down dramatically from 1985, when it represented 36.1%. Alberta’s ability to remain highly competitive depends upon growth and expansion in other industries in the province.

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Small players find opportunity in real estate’s decline

The housing market warnings are everywhere. Housing starts were down 19 per cent in January, and off 30 per cent from their peak just five months ago, while residential building permits dropped 11 per cent in December from November. Sales of existing homes were down 5.2 per cent in January compared to the same month last year. The softer economy, along with the government’s tighter mortgage rules, are hurting the demand for homes and decreasing the incentives for builders.

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Economic opportunity “staggering,” says minister

The federal minister of public works and status for women emphasized the abundance of opportunities in northern Alberta and the important role it plays in the Canadian economy on Wednesday at day one of the Growing the North Conference.

“There’s a reason everybody’s moving west,” said Rona Ambrose, as she wrapped up her speech in front of a crowd of more than 450 people at the TEC Centre at Evergreen Park.

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