Canada’s Best Places for Business 2016

Edmonton, Alta.

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Population: 961,016
Annualized population growth (%) 2.59
Avg. household income ($): 102,954
Total value of building permits issued, most recent year ($): 205,032,704
Avg. office lease rate ($ psf/yr): 30.81
Corporate income tax rate (%): 27.0
City website: www.edmonton.ca

Market

Pop. within 1 hr commuting distance: 1,395,178
Adults who have completed apprenticeship, trades certificate or diploma (%): 8.66
Adults who have completed university degree (%): 27.92
Adults who have completed bachelor''s degree (%): 65.74
Unemployment rate, most recent month (%): 7.16

Costs

Avg. home price ($): 420,186
Avg. retail lease rate ($ psf/yr): N/A
Avg. industrial lease rate ($psf/yr): 15.08
Avg. general lease rate ($psf/yr): 25.44
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0361
Peak electricity cost for mid-size industrial business ($/kWh): 0.0361

Taxes & Regulation

Business license cost ($): $200 to $499
Avg. processing time for building permit, most recent calendar year: Less than 3 weeks
Non-residential property tax rate (% of assessed value): 1.900000
Commercial property tax rate (% of assessed value): N/A
Industrial property tax rate (% of assessed value): N/A
Small business income tax rate, if different (%): 13.5
Sales tax (%): 5
Special regulations or zoning: Edmonton has six main types of zones, including residential, commercial, industrial, urban service, agriculture and specialty. The last of those includes direct control zones, special purpose overlays and special area zones.

Other

Largest employers: Alberta Health Services; Government Of the Province Of Alberta; Cameron International Corporation
Leading industries: RetailServiceConstruction
Value of capital projects >$5 million planned or under construction ($ million): 1,880,000,000
Special amenities: Edmonton is home to the ICE District, Canada’s largest mixed-use sports and entertainment development. The city has six post-secondary institutions, including the University of Alberta, and hosts such annual events as the Edmonton International Fringe Festival and the ITU World Triathlon.
Special economic development initiatives: Edmonton hosts Port Alberta, which provides streamlined access to export, logistics and other services for global business. The TEC Edmonton Health Accelerator is aimed at assisting new health-care companies.