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Business & Relocation

The Red Deer Region - Canada's Economic Capital

Take a drive down Hwy 2 through Red Deer and you will have just travelled through the centre of one of the hottest economic regions in the world. So says a recent report by TD Economics. With a per capita GDP only second to Luxembourg (located in Western Europe) and well ahead of the United States, Norway, Switzerland and Ireland, the Calgary-Red Deer-Edmonton Corridor continues to be a major economic force.

In the heart of this Corridor and strategically nestled between Alberta's two largest cities, the Red Deer Region remains one of the fastest growing markets in the nation. In fact, the Town of Sylvan Lake, located within the Region, has been ranked the second fastest growing urban municipality in Canada. So what's the big draw? Combine the Alberta advantage with the Region's numerous benefits and the results are hard to pass by.

Best place to work

Businesses within the Red Deer Region share in the advantage of operating in a province blessed with an abundance of natural beauty, fresh air, clean water and the lowest taxes in Canada. Top this off with the Region's low business operating costs, which are among the most competitive in the world and you'll discover one of the key factors driving new business to the area. In a recent study conducted by KPMG, the Red Deer Region ranked second best in Canada's Midwest for having the lowest cost location to conduct business. Red Deer was the sixth most cost competitive city in Canada (out of 39) and sixth in the world (out of 139). Red Deer also measured better than its southern counterparts with a cost average 12.3 percent better than the U.S. In Canada, this cost average was 1.5 to 8.5 percent better than the national average in 17 different industry sectors. Also catching the eye of those looking to set-up shop are the area's competitive corporate taxes. The Region consistently ranks as having the lowest combined property tax and utility overhead costs for business in Canada. Add to the fact that there is no business tax within the Regions' municipalities. But what would these advantages be without a ready, willing and skilled workforce to provide the backbone for businesses? The Red Deer Region continues to deliver in this sphere too. With a median age of 35, the Region's population is one of the youngest in Canada. Almost 35 percent of the Region's employed population hold technical diplomas or certificates, approximately 10 percent higher than the national average. An additional 15 percent have some level of post-secondary training, and Red Deer College continues to train professionals to meet the area's workforce needs. While the Red Deer Region draws employees from within an approximate 45-minute radius, it provides a distribution capacity to more than two million people within a 90-minute radius, giving it yet another strategic advantage. Access is made easy with Hwy 2 running north and south directly through the centre of the Region. This connects businesses to suppliers and markets on the Canamex Corridor, a highway system that links Canada, the United States and Mexico. Red Deer is also only a 90-minute drive north of the world's longest national highway, the TransCanada Highway. Canada's two major railways, Canadian National and Canadian Pacific Railway travel through the Region, and two 24-hour international airports are just a 70-minute drive from Red Deer. The Red Deer Regional Airport provides passenger service within Alberta and future expansion is planned. In addition to moving people and products, businesses can easily move their ideas through the Region's telecommunications infrastructure, which is among the most established in North America. These advantages, plus many more, have attracted and cultivated thriving businesses, with a number of the Region's existing and emerging sectors expanding at record rates. Examples of growth can be seen in nearly every area.

In 2003, Convergys Corporation opened a new inbound customer contact centre in Red Deer with 451 workstations in 47,110 square feet of space. More than 900 people are employed at this location. Manufacturer sales also saw extraordinary growth in 2003 with an increase of $65 million. Oil and gas have remained an economic mainstay, and Canada's third largest petrochemical cluster lies within minutes of Red Deer. Operators include Nova Chemicals Inc., Dow Chemical Canada Inc. and BP Canada Chemicals Co. Over the past decade, the region's agri-food industry has also grown by 8.4 percent, far outstripping the Canadian average of -1.1 percent. Large retail companies as well as wholesale and distribution industries continue to expand to meet market demands. Small companies have also found the Region to be an inviting and profitable location to conduct business, as confirmed by a BMO financial study. The study cites Red Deer as a hotbed for small businesses with a predominant number of these specializing in financial services.

Best place to live

The Region's growth in real estate development has continued at record levels since 2000. Combined urban and rural building permit values have ranged from $250 to $300 million, and similar paced development is expected to continue. This robust growth indicates that in addition to attracting business, the Red Deer Region is also attracting people. The Region's numerous amenities and services make for an excellent quality of life as well as a welcoming place to begin a career or raise a family. Families seeking quality education for their children can get off to a head-start through the Region's exceptional education system which includes public, Catholic, Christian and private schools. Year-round schooling and French immersion programs are just some of the available options. Red Deer College offers a broad range of technical and academic programming and provides first-rate post secondary training for adults, both young and old. Health and safety continue to be key areas of focus for the Region, as Red Deer County and The City of Red Deer work to enhance the comfort and security of area residents. Approximately 350 physicians serve the Region through the local health authority, providing a full range of services including acute and continuing care as well as diagnostic services. The City of Red Deer is the key provider of 911 emergency dispatch services to the Region, and municipal and private agencies offer first-class fire and ambulance response services. The RCMP, in addition to several rural detachments, also offer co-ordinated policing efforts. To top this off, residents enjoy living in one of the most cost-effective locations in the province and country. Red Deer ranks as the second most cost-effective city in Alberta and third most cost-effective city in Canada to live.

Best place to play

What would these advantages be without a little fun added in? Red Deer's abundant culture, recreation and entertainment options provide even further appeal, attracting individuals and families of all ages and interests. Recently named a Cultural Capital of Canada by Canadian Heritage, the area is home to a myriad of cultural properties. These include the historic Icelandic settlement of Markerville, the provincial historic site of world-renowned Icelandic poet, Stephan G. Stephansson and the Danish Canadian National Museum and Gardens. Live theatre, a local symphony, artisan displays and cultural festivals also add to the Region's strong and active cultural community. And with close to 170 restaurants in Red Deer, the Region caters to food lovers of all tastes. Those seeking adventure will find the Region a recreational playground, with a variety of options for both summer and winter months. Boating, fishing and other water activities are just a few opportunities that residents and visitors enjoy each year at the Region's various recreational lakes including Sylvan Lake, Glennifer Lake and Pine Lake. Eighteen scenic golf courses cater to all skill levels, and a network of hiking, biking and walking trails round out the summer options.

In the winter, Red Deer is home to the 164 metre Canyon Ski and Recreation Area, Alberta's largest ski resort outside of the Canadian Rockies. A full range of athletic opportunities is also available through Red Deer's indoor facilities, including ice skating, jogging, swimming, soccer and rock climbing. A variety of special events and entertainment options also make their way to the Region throughout the year. Red Deer's multi-use facilities have attracted world-class events such as the Sears Open Figure Skating Championships, curling's Scott Tournament of Hearts, as well as the 2006 Alberta Summer Games. The area is well-known for its rodeos and exhibitions. The many advantages of working and living in this area of Alberta continue to make the Hwy 2 Corridor a leading economic force that is recognized worldwide. With strong growth forecasted for the future, the Red Deer Region is ready and eager to welcome further residential, commercial and industrial development. As you travel, we invite you to stop in and discover the features that continue to draw people and businesses to the area. Like numerous others, you may find that your visit leads you home.

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