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The Alberta Advantage
 As a part of a continuing effort to
attract more investment and economic development in
Alberta, the provincial government has been emphasizing the
positive effects of the continuing prosperity in the
province, calling it the "Alberta Advantage."
There are a number of elements in
place in Alberta that makes the province attractive to
business, including balanced and surplus budgets brought
about by reduced spending and revenues from natural
resource development. Legislation passed in 1995-96
makes it the law to have balanced budgets in the
province. The financial position of the province has
brought confidence that there will not be increases in
taxes, which are already among the lowest in Canada.
Alberta's economy is diverse, with
energy, agriculture, and forestry at its foundation.
Strong manufacturing and advanced technology sectors
have developed, supported by the Alberta Research
Council, which is the largest organization of its kind
in Canada. There are over 1,000 high technology
companies operating in Alberta.
The Alberta government is also
actively encouraging medical research through the
Alberta Heritage Foundation for Medical Research. The
Foundation contributes approximately $32 million each
year.
Other factors that contribute to the
economic success in Alberta include a workforce that is
among the most educated and skilled in North America.
49 percent of the province's workforce hold
post-secondary degrees or certificates. At the same
time, Alberta has proven to have the highest level of
productivity based on a per capita GDP.
In 2002, nearly $55 billion of goods
and services were exported to world markets from
Alberta. The growth in manufacturing in the
province is evident in the 45 percent increase in
exports from Alberta between 1997 and 2002.
The ongoing economic growth in
Alberta has created the environment that is attractive
to business. This, in turn, has the potential to
stimulate even further economic growth in the province.
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Heritage Community Foundation Presents
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