|
Call Now! 1-866-932-8412 or
Email: info@mortgagegirl.ca |
Alberta will continue to outperform the rest of the country as oil prices remain stable and good balance sheets encourage businesses to invest in the future, TD chief economist Craig Alexander said Friday.
And a slight uptick in interest rates here while they remain lower in the U.S., and lower corporate taxes, should encourage foreign investment, Alexander told the chamber of commerce.
“Canadian companies are sitting on enormous amounts of cash, and that’s a huge catalyst for investment.”
Western Canada will grow at 2.8 per cent next year, 0.8 per cent above the national average, and hit 3.5 per cent in 2012, he predicted.
Last June, another report by Scotiabank also said that Alberta will experience a sharp economic rebound during 2010 and will lead all of the Canadian provinces in terms of GDP growth at 4.1%.
For 2011, Scotiabank forecasted that Alberta’s economic growth will be 3.4 per cent while Canada as a whole will average 2.7 per cent.
The World’s Biggest Farm
On March 2009 Sprott Resource Corp. announced that it had launched One Earth Farms Corp., a large scale, fully-integrated corporate farming entity, which intends to have operations on first class First Nations‘ farmland on the Prairie Provinces.
A partnership between the private sector and First Nations, One Earth Farms represents a new model for North American farms. One Earth Farms is committed to delivering superior results and a reduced risk profile through economies of scale, professional management and progressive farming practices. The farms currently raise livestock and grow canola, wheat, field peas, oats and barley, although there are plans to add flax, lentils and chickpeas.
One of the key focuses of One Earth Farms is building stable long-term relationships with First Nations through its commitment to improved land management, equity participation, job opportunities and training.
A 2008 Statistics Canada study found that bigger farms tend to be more profitable, and Sprott Resource also believes the key to farming is size and access to capital . The company is also hoping to further boost sales and profitability by taking advantage of the brand factor. “People understand that First Nations have a strong connection to their land and to ‘natural’ and ‘sustainable,’ and those are our beliefs as well,” says Steve Yuzpe, the CFO of Sprott Resource. “Down the road, I think there’s a real opportunity to create a real positive consumer brand associated with all of these products.”
According to its founders, the original goal of One Earth Farms was to become Canada’s largest fully integrated corporate farm. One Earth has now about 93,000 acres under administration, which makes it the second-largest farm operation in the country. Discussions are currently underway with more than 40 First Nations representing more than 2 million acres of land across Alberta, Saskatchewan and Manitoba. If successful, the outcome could turn the venture into the world’s biggest farm.
More information:
http://www.sprottresource.com/one-earth-farms-corp.aspx
Fort McMurray tops the list of most expensive homes in Alberta
Fort McMurray residents pay the highest prices in Alberta for the popular four-bedroom and two-bathroom type of houses, according to a recent report by Coldwell Banker Real Estate.
In its annual report on U.S. and Canadian house prices, Coldwell said it costs $593,000 for a four-bedroom house in Fort McMurray, $551,000 in Calgary and $452,000 in Edmonton.
Some of the highlights from the 2010 Coldwell Banker HLR report include:
- Western Canada in price forefront: Of the Canadian markets included in the report, Western Canada continues to be a price leader. In British Columbia, the average price of a four-bedroom, two-bathroom listing in Kelowna and Burnaby reached $916,697 and $705,746 CDN respectively.
- Fort McMurray outpaces other Alberta leaders: A booming job market in Fort McMurray kept four-bedroom, two-bathroom homes at the forefront of Alberta prices at $593,390 CDN, outdistancing Calgary* and Edmonton at $551,920 CDN and $452,628 CDN respectively.
- Vancouver in North American top ten: Established Canadian home price leader, Vancouver* reported an average price of $1,324,000 CDN ($1,289,179 U.S.) for a four-bedroom, two-bath ‘aspirational’ home. Vancouver was the only Canadian city to make the North American top
ten rankings.
- Diverse housing options in Ontario: In Ontario, four-bedroom, two-bathroom homes showed surprisingly affordable pricing in some of the province’s more densely populated urban centers such as Toronto ($495,398 CDN ) and Mississauga ($393,691 CDN), where condo units provide an appealing option for buyers wanting a four-bedroom home in the city, without the price of a large lot.
- Canada’s most affordable seeks out-of-market buyers: The most affordable market in Canada for a four-bedroom, two-bathroom home was Windsor, Ontario ($158,242 CDN), across the river from North America’s most affordable market, Detroit, MI. Both markets have been affected by the recent auto industry woes. Windsor presents an affordable alternative for out-of-market buyers, such as retirees and individuals who have the freedom to work from home. The market combines one of Canada’s warmer climates, proximity to Ontario’s fruit land and wine country, and features such as cross-border shopping.
Fort McMurray is best known for its association with the oil sands industry. It is the top employer in the region with many available jobs in oil sands and supporting industries. Although not officially a city, “Fort Mac” is considered to be the heart of one of Canada’s major oil production hub. Fort McMurray attracts people from all corners of Canada and the world, that form a diverse and multicultural community.
More Info:
Alberta producers remain optimistic
Alberta producers remain optimistic despite a lumber price drop, after forest product sales of lumber, panelboard, pulp and paper jumped 36.6% to $594 million in the second quarter from the same period in 2009, as the economic recovery raised demand.
But the Alberta Forest Products Association warned that prices for lumber fell after a strong April and May.
“We’re cautiously optimistic,” president Brady Whittaker said. ” Prices have declined in the last couple of months, but the stronger year-to-year demand points to a recovery of the industry.”
Lumber sales brought $196 million into industry coffers, up 47 per cent from last year. Shipments rose nine per cent to 727 million board feet.
Panelboard operators took in $95.5 million, up 72 per cent, with production of 294 million square feet, a 14 per cent increase.
But the pulp and paper sector shipped 353,000 tonnes, down 11 per cent from 2009, and the value plunged 24 per cent to $301 million.
For the first six months of 2010, sales of all forest products totalled $1.13 billion, up 23 per cent from 2009.
About the Alberta Forest Products Association
The Alberta Forest Products Association is a private, non-profit industry organization, representing lumber, panelboard, pulp and paper, and secondary manufacturing wood products companies operating in Alberta.
The forest products industry is Alberta’s third largest manufacturing industry and the second largest manufacturing export industry. AFPA member companies are active participants in sustainability advancements that benefit the industry, environment and society.
For more information about Alberta’s forest industry, visit:
www.albertaforestproducts.ca