Edmonton Economy

Economy

Business & Economic Development

Edmonton is the major economic centre for northern and central Alberta and a major centre for the oil and gas industry.

 
Edmonton traditionally has been a hub for Albertan petrochemical industries, earning it the nickname “Oil Capital of Canada” in the 1940s. Supply and service industries drive the energy extraction engine while research develops new technologies and supports expanded value-added processing of Alberta’s massive oil, gas and oil sands reserves. These are reported to be the second largest in the world after Saudi Arabia.

 
Despite the apparent focus on oil and gas, Edmonton’s economy is now the second most diverse in Canada.

 
Much of the growth in technology sectors is due to Edmonton’s reputation as one of Canada’s premiere research and education centres. Research initiatives are anchored by educational institutions such as the University of Alberta as well as government initiatives underway at the Alberta Research Council and Edmonton Research Park. Recently the National Institute for Nanotechnology was constructed on the University of Alberta campus.

 
The geographical location of Edmonton has made it an ideal spot for distribution and logistics. CN Rail’s North American operational facility is located in the city as well as a major intermodal facility that handles all incoming freight from the port of Prince Rupert in British Columbia.

 
Edmonton is known for its exceptional environmental stewardship, strong life-science sector, and burgeoning high-tech industry economy.