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© 2018 CBRE, LTD. | 1 CBRE RESEARCH
WHY EDMONTON?DISCOVER THE GATEWAY TO THE NORTH
Image courtesy of Jeff Wallace Photography
WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2018 CBRE, LTD. | 2
LEADER IN ECONOMIC GROWTH
ECONOMIC STRENGTH
5.2% GDP GROWTH2017SECOND FASTEST GROWING AMONG MAJOR METROS(VS. 3.5% CANADA)
$62,437 GDPPER CAPITA 2017SECOND MOST PRODUCTIVE CITY IN CANADA30% HIGHER THAN NATIONAL AVERAGE
$19,739 RETAIL SALES PER CAPITA 2017SECOND LARGEST AMONG MAJOR METROS
$59,118 PERSONAL INCOMEPER CAPITA 2017SECOND HIGHEST IN CANADA12% HIGHER THAN NATIONAL AVERAGE
$1,144.92 AVG. WEEKLY EARNINGS2017SECOND HIGHEST IN CANADA15.7% HIGHER THAN CANADIAN AVERAGE
18.7% EMPLOYMENT GROWTH2008 - 2017LARGEST EMPLOYMENT EXPANSION OVER THE PAST 10 YEARS10% HIGHER THAN NATIONAL AVERAGE
7.6% PROJECTED JOB GROWTH2018 - 2022(4.9% CANADIAN AVERAGE)
Source: Statistics Canada, Conference Board of Canada, CBRE Research
© 2018 CBRE, LTD. | 3 CBRE RESEARCH
TOP COMPANIES IN EDMONTON
WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2018 CBRE, LTD. | 4
ALBERTA ENERGY
LARGEST INDUSTRIAL ENERGY SERVICES PARK IN CANADA
OVER 500 BUSINESSES WITH EXPERTISE IN ENERGY, ADVANCED MANUFACTURING AND DISTRIBUTION & LOGISTICS
EMPLOYS NEARLY 25,000 HIGHLY SKILLED TRADES AND PROFESSIONAL WORKERS
NISKU ENERGY PARK
CANMET ENERGY, CANADA’S LEADING ORGANIZATION FOR SCIENTIFIC EXPERTISE ON CLEAN ENERGY TECHNOLOGIES
INNOTECH ALBERTA TEAMS COMPLETE APPLIED RESEARCH PROJECTS IN THE OIL & GAS SECTOR
DEVON RESEARCH CENTRE
3RD LARGEST CRUDE OIL RESERVES IN THE WORLDALBERTA REPRESENTS 98% OF CANADA’S TOTAL OIL RESERVES
EDMONTON IS THE CLOSEST MAJOR CENTRETO ALBERTA’S OIL SANDS, MAKING IT A STRATEGIC BASE FOR MANY INDUSTRIES THAT SUPPORT THE OIL AND GAS SECTOR
LARGEST UNCONVENTIONAL LIGHT SHALE OIL POOL IN CANADADUVERNAY FIELD IN WESTERN ALBERTA
(3.4 BILLION BARRELS OF MARKETABLE LIGHT OIL AND 6.3 BILLION BARRELS OF NATURAL GAS LIQUIDS)
150 DRIVERLESS TRUCKSTO BE ADDED TO SUNCOR’S FLEET, LOWERING OPERATING EXPENSES AND INCREASING PRODUCTIVITY
OVERALL CANADIAN OIL PRODUCTION TO GROW TO5.1 MILLION BARRELS/DAY IN 2030(UP FROM 3.85 MILLION BARRELS/DAY IN 2016)
$160,000
$140,000
$120,000
$100,000
$80,000
$60,000
$40,000
$20,000
$02009 2010 2011 2012 2013 2014 2015 2016 2017 2018e
ENERGY INDUSTRY REVENUE (MILLIONS)
ALBERTA OIL
Source: ARC Energy Institute, Leduc County, PETRO LMI, CBRE Research
© 2018 CBRE, LTD. | 5 CBRE RESEARCH
ALBERTA’S
TOP EXPORT MARKETS
$100.7 BILLIONALBERTA EXPORTS IN 2017
CHEMICAL MANUFACTURING
TOP NON-ENERGY EXPORTSIN 2017
CROP PRODUCTION
FOOD MANUFACTURING
PRIMARY METAL MANUFACTURING
MACHINERY MANUFACTURING
SOUTHKOREAMEXICO
USA CHINA JAPAN
ALBERTA REPRESENTS 20%OF CANADA’S EXPORTSIN THE LAST 10 YEARS[ [
ALBERTA EXPORTS
Source: Government of Canada
WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2018 CBRE, LTD. | 6
EDMONTON TOP COLLEGES & UNIVERSITIES
ALBERTA’S WORKFORCE IS HIGHLY EDUCATED, WITH THE HIGHEST RATE OF POST-SECONDARY ATTAINMENT (INCLUDING DIPLOMAS, DEGREES,
AND CERTIFICATES) IN CANADA. IN TOTAL, THE SIX POST-SECONDARY INSTITUTIONS PROVIDE TR AINING AND EDUCATION TO
117,000 STUDENTS IN EDMONTON .
EDMONTON LEADS THE WAY
LARGEST APPRENTICESHIPTRAINER IN CANADA
NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY
WORLD’S TOP100 RANKED UNIVERSITIES
UNIVERSITY OF ALBERTA(2017 QS WORLD UNIVERSITY RATING)
NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY 48,500 STUDENTS
UNIVERSITY OF ALBERTA37,830 STUDENTS
MACEWAN UNIVERSITY19,000 STUDENTS
117,000 TOTAL
COLLEGE STUDENTS
DEEP TALENT POOL
OVER THE PAST FIVE YEARS, THE NUMBER OF APPLICANTS TO ALBERTA’S POST-SECONDARY SYSTEM
INCREASED EVERY YEAR. THIS GROWTH WAS DRIVEN PRIMARILY BY INCREASES IN APPLICANTS FROM
OUTSIDE CANADA.
VISA POST-SECONDARY STUDENT ENROLLMENT HAS MORE THAN DOUBLED OVER THE PAST 10 YEARS.
IN THE 2015-16 ACADEMIC YEAR, VISA STUDENTS ACCOUNTED FOR 8.3% OF ALL STUDENTS AT POST-
SECONDARY INSTITUTIONS IN ALBERTA
COMMITMENT TO EDUCATION
Source: Government of Canada 2017
TOP UNIVERSITIES
© 2018 CBRE, LTD. | 7 CBRE RESEARCH
HEALTH & TECHNOLOGY
UNIQUE NANOTECHNOLOGY COLLABORATION HUB IN A $52.2 MILLION, 215,000 SF FACILITY
NATIONAL INSTITUTE FOR NANOTECHNOLOGY
DEEPMIND’S FIRST EVER INTERNATIONAL ARTIFICIAL INTELLIGENCE RESEARCH OFFICE IN EDMONTON
THE ACTIVE-AURORA PROJECT: CANADA’S FIRST WIRELESS CONNECTED VEHICLE TEST-BED NETWORK TO EXCHANGE INFORMATION IN REAL-TIME WITH ROADSIDE EQUIPMENT
ARTIFICIAL INTELLIGENCE HUB
233 HECTARES CENTRE FOR ADVANCED WASTE PROCESSING AND RESEARCH FACILITIES WHERE WASTE IS TRANSFORMED INTO USEFUL RESOURCES
EDMONTON WASTE MANAGEMENT CENTRE
FROM MEDICAL DEVICES, PHARMACEUTICALS TO AGRICULTURAL BIOTECHNOLOGY, EDMONTON IS HOME TO OVER 265 ESTABLISHED MULTINATIONALS AND LOCAL START-UPS
ALBERTA HEALTH SERVICES (AHS) IS THE LARGEST PROVINCE-WIDE FULLY INTEGRATED HEALTH SYSTEM PROVIDING SERVICES TO OVER FOUR MILLION ALBERTANS. THE HEALTH AUTHORITY COLLECTS A LARGE AMOUNT OF CLINICAL AND CORPORATE DATA, WHICH PROVIDES A UNIQUE OPPORTUNITY TO EXAMINE DISEASE CLUSTERS, PRACTICE VARIATION AND HEALTH OUTCOMES
$4.5 BILLION PROVINCE WIDE FUNDING TO RENOVATE HEALTH INFRASTRUCTURE
$400 MILLION FOR A NEW HOSPITAL IN SOUTH EDMONTON (COST ESTIMATE $2 BILLION)
ALBERTA HEALTH SUPER LAB (ESTIMATE $325 MILLION )
HEALTH CITY INITIATIVE
INNOVATION STARTS HERE
WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2018 CBRE, LTD. | 8
EDMONTON BY THE NUMBERS
67.1% EMPLOYMENT RATESECOND AMONG MAJOR CMAS
73% LABOUR FORCE PARTICIPATION RATE(2017) SECOND LARGEST OF ALL CMASCANADA: 65.8%
YOUNGER THAN AVERAGE37.8 AVERAGE AGE
(CANADIAN AVERAGE 41 IN 2016)
30.1%EDMONTON’S SHARE OF MILLENNIALS IN 2016
2ND LARGEST OF ALL CMAS
STRONG POPULATION GROWTH
8.5%GROWTH FORECAST
SECOND FASTEST
218,188MIGRATION
(2008-2017)
79,786FORECASTED MIGRATION
(2017-2021)
DEMOGRAPHIC PROFILE
Source: Canada 2016 Census
© 2018 CBRE, LTD. | 9 CBRE RESEARCH
• EDMONTON INTERNATIONAL FRINGE THEATRE FESTIVAL
• EDMONTON FOLK MUSIC FESTIVAL
• A TASTE OF EDMONTON
• EDMONTON INTERNATIONAL STREET PERFORMERS FESTIVAL
• EDMONTON DRAGON BOAT FESTIVAL
• NEXTFEST
• EDMONTON PRIDE FESTIVAL
• SYMPHONY UNDER THE SKY
• ICE ON WHYTE FESTIVAL
• FREEWILL SHAKESPEARE FESTIVAL
• K-DAYS
• WHYTE AVENUE ART WALK
THE FESTIVAL CITYOVER 55 ANNUAL FESTIVALS AND EVENTS
88KM OFRIVER VALLEY PARKTHE LARGEST URBAN PARK IN NORTH AMERICA
22 TIMES LARGER THAN CENTRAL PARK[ [QUALITY OF LIFE
6 PROJECTS THAT ARE RESHAPING EDMONTON’S DOWNTOWN
Source: The Globe & Mail
ROYAL ALBERTA MUSEUM
STANLEY A. MILNER LIBRARY
ALLARD HALL, MACEWAN UNIVERSITY
ARTS HABITAT EDMONTON: ARTSCOMMON AND ARTISTS QUARTERS
EDMONTON OPERA CENTRE
WINSPEAR CENTRE FOR MUSIC
AFFORDABLE LIVING2-BEDROOM RENTAL: $1,21622% CHEAPER THAN VANCOUVER13% CHEAPER THAN TORONTO
NEW HOUSING CONSTRUCTION PRICE: $526,69350% CHEAPER THAN TORONTO65% CHEAPER THAN VANCOUVER
Source: CMHC
Source: Edmonton Economic Development Corporation
WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2018 CBRE, LTD. | 10
PROJECTS UNDER CONSTRUCTION PROPOSED PROJECTSLINE 3 PIPELINE REPLACEMENT
TRANS-MOUNTAIN PIPELINE EXPANSION
VALLEY LINE LRT
STANTEC HEADQUARTERS BUILDING
MARRIOTT HOTEL AND THE LEGENDS
$7.5 BILLION
$7.4 BILLION
$3.2 BILLION
$500.0 MILLION
$350.0 MILLION
FRONTIER OIL SANDS MINE
MACKENZIE GAS PIPELINE PROJECT
INTER PIPELINEPROPANE DEHYDROGENATION PLANT
CANADA KUWAIT PETROCHEMICALPROPANE DEHYDROGENATION FACILITY
YELLOWHEAD TRAIL UPGRADES
$20.6 BILLION
$16.2 BILLION
$3.8 BILLION
$3.5 BILLION
$1 BILLION
$84.9 BILLIONUNDER CONSTRUCTION[ [$114.5 BILLION
PROPOSED
PEACE RIVER
GRANDE PRAIRIE
EDSONHINTON
WHITECOURT
BANFF
RED DEER
MEDICINE HAT
LETHBRIDGE
LLOYDMINSTERLEDUCSPRUCE GROVE
ST. ALBERT FORT SASKATCHEWAN
COLDLAKE
FORTMCMURRAY
EDMONTON
CALGARY
NORTHEAST
CENTRAL
EAST CENTRAL
NORTHWEST
WEST CENTRAL
SOUTH CENTRAL
SOUTH
PROJECTS BY INDUSTRYOIL AND GAS
PIPELINES
INFRASTRUCTURE
INDUSTRIAL
POWER
INSTITUTIONAL
TOURISM / RECREATION
MIXED-USE
RESIDENTIAL
COMMERCIAL
RETAIL
$91.2 BILLION
$39.3 BILLION
$19.2 BILLION
$13.2 BILLION
$8.2 BILLION
$7.5 BILLION
$6.4 BILLION
$6.2 BILLION
$4.2 BILLION
$3.3 BILLION
$0.6 BILLION
TOTAL: $199.4 BILLION
CENTRAL &NORTHEAST
CONSTRUCTIONACTIVITY
65.0%
ALBERTAREPRESENTS
IN THE LAST10 YEARS
30.0%OF CANADA’S INVESTMENTS
Source: Government of Alberta
NORTHERN ALBERTA INVESTMENTS
© 2018 CBRE, LTD. | 11 CBRE RESEARCH
ALBERTA’S INDUSTRIAL HEARTLAND
OVER $35 BILLION INVESTED TO DATE
$15 BILLION PROPOSED INVESTMENTOVER THE NEXT DECADE
PRODUCES 43% OF THE NATIONALBASIC CHEMICAL MANUFACTURING
SERVES AS LOGISTICS & MARKET CENTREFOR MULTIPLE PIPELINE TERMINALS
582 KM2 OF INDUSTRIAL ZONED LAND
ALBERTA’S INDUSTRIAL HEARTLAND IS ONE OF THE WORLD’S MOST ATTR ACTIVE LOCATION FOR CHEMICAL,
PETROCHEMICAL AND OIL AND GAS INVESTMENT. THE PROXIMITY TO COMPETITIVE ABUNDANT NATURAL RESOURCES, POLITICALLY
AND FISCALLY STABLE GOVERNMENT, AND ACCESS TO SKILLED LABOUR, HAS POSITIONED THE HEARTLAND AS CANADA’S LARGEST
HYDROCARBON PROCESSING REGION.
THE HEARTLANDFRACTIONATION CAPACITY(360 MBPD)
PETROLEUM REFINING (450 MBPD EXPANDING TO 600 MBPD)
BITUMEN UPGRADING(250 MBPD)
PROCESSING REGION
Source: Alberta Industrial Heartland
WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2018 CBRE, LTD. | 12
Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. REVISED: JULY 2017
MIGUEL MARTINEZSr. Research Analyst+1 780 917 [email protected]
FOR MORE INFORMATION ABOUT THIS REPORT OR CBRE RESEARCH:
CBRE EDMONTON 10180 - 101 Street | Suite 1200 | Edmonton, AB T5J 3S4
Image courtesy of Katz Group