How it's done
The business climate is the general economic environment that local businesses operate in. Reviewing and understanding the local business climate provides valuable insights about the economy, costs, risks, and incentives that may impact the success of your business. This activity will guide you to better understand the business climate in Strathcona County and help you answer the following fundamental questions.
What is the business climate in Strathcona County?
We have compiled the most important aspects of Strathcona County’s business climate as an interactive dashboard below. This dashboard provides valuable economic, resident, household, dwelling and development indicators that may influence the success of your business.
What costs and assistance should I know about?
Whether you have a new or existing business it is critical to be aware of costs, incentives and grants that impact your business. This dashboard provides you with a snapshot of the major costs of conducting business in Strathcona County and assistance available to Strathcona County businesses.
Strathcona County, located in the Greater Edmonton Region, benefits from the Alberta advantage when it comes to corporate income taxes. Prominent benefits include; no provincial sales tax, no payroll tax, no health care premiums, and lower personal income tax rates. Alberta continues to be a great place to do business thanks to its infrastructure, strong urban growth centers, increasingly diverse economy, growing population and lucrative investment opportunities.
As of January 1, 2017, the general Alberta corporate income tax rate is 12 per cent. The Alberta small business income tax rate is 2 per cent for eligible small businesses with income up to $500,000.
The combined federal / provincial corporate income tax rate in the Strathcona County is 27 per cent for general businesses, 14 per cent for small businesses, and a 9.14 per cent tax on machinery and equipment.
2017 Commercial / Industrial / Institutional Development Fees
(additional fees for advertising and notification may apply)
Permitted uses (includes building with a gross floor area up to 232 m2)
* plus a building fee of 5.00 / m² for each additional m² over 232 m² OR for structures $0.10 / $1,000 project value (to a maximum of $100,000) and may be a combination of both
|New tenant use in an existing / approved building||$500|
Discretionary uses (includes building with a gross floor area up to 232 m²)
* plus a building/structure fee of 5.00/m² for each additional m² over 232m² OR $0.10 / $1,000 project value (to a maximum of $100,000)
|New tenant use in an existing / approved building||$1,000|
|Change in tenancy (no change in use)||$250|
Additions / alterations/renovations for existing / approved buildings
* plus a building/structure fee of 5.00/m² for each additional m² over 232m² OR $0.10 / $1,000 project value (to a maximum of $100,000) New tenant use in an existing / approved building
|Accessory buildings (minimum fee $450 and maximum fee $2,500)||$3.50/sq.m|
|Variance request (in addition to applicable permit fee)||$250|
For more information click here
CARBON LEVIES AND REBATES
Provincial Carbon Levy
As of January 1 of 2017, a carbon levy is now charged on all fuels that emit greenhouse gas emissions when combusted at a rate of $20 / tonne in 2017 and $30 / tonne in 2018. The rate is based on the amount of carbon pollution released by the fuel when it is combusted, not on the mass of fuel itself. These include transportation and heating fuels such as diesel, gasoline, natural gas and propane. The levy does not apply to electricity.
Over the next 5 years, revenue from the Climate Leadership Plan, including the carbon levy, is expected to raise $9.6 billion, all of which will be reinvested in the economy and rebated to Albertans. This includes $3.4 billion towards investments in large scale renewable energy, bioenergy and technology and $865 million to pay for a cut in the small business tax rate from 3% to 2%.
More information on the carbon levy can be found at the Government of Alberta, click here
Federal Carbon Levy
Beginning January 1 of 2018, the Canadian federal government will begin charging $10 / tonne of greenhouse gasses emitted by fuels. This amount will increase by an additional $10 / tonne annually until reaching the maximum of $50 / tonne in 2022.There will be no charge to emitters in provinces whose existing carbon levy is equal to or greater than the federal amount. This will apply to Alberta until 2021, when the difference between the Alberta carbon levy and Canadian carbon levy will be added to the total of the Alberta levy to reach the new minimum ($40 / tonne).
Strathcona County is committed to fostering a strong and diverse workforce that capitalizes on the inherent strengths of the region. The Region boasts competitive location-sensitive costs for standardized commercial and industrial operations.
A summary of the average hourly earnings for the Strathcona County and Greater Edmonton Region is shown in the table below. Learn more
|Major Industry||Year||Average Hourly Wage|
|Oil and gas extraction||2015||40.34|
|Transportation and warehousing||2015||$27.77|
|Finance, insurance, real estate and leasing||2015||$27.9|
|Professional, scientific and technical services||2015||$36.08|
|Business, building and other support services||2015||$21.34|
|Health care and social assistance||2015||$28.7|
|Information, culture and recreation||2015||$18.93|
|Accommodation and food services||2015||$14.89|
Source: Alberta Wage and Salary Survey 2015
Alberta is one of the most affordable places in Canada to live. Here is a look at some of the financial benefits of life in Alberta.
Families in Alberta typically enjoy a higher family income than other parts of Canada. Median total single-family household income is $141,754.50 . Also, 50.1% of household incomes are equal or greater than $125,000.
- No business licence fees or registrations
- No provincial sales tax
- No payroll tax
- No inventory tax
- No health care premiums
- Free provincial health care insurance
- Lower personal income tax rates
- Many federal and provincial incentives and grants available
- Small business income tax rate of 2%*
- Corporate income tax rate of 12%
*Industry Canada’s definition of small business - firms that have fewer than 100 employees
Financing is a vital component of business planning. Strathcona County has many options available. For a comprehensive list of Federal, Provincial, regional, and local programs, as well as venture capital groups, and banks, click here