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Economic outlook for Alberta

Blog by Paul Thomas, REALTOR | March 1st, 2019

Economic Outlook for Alberta – and by extension Calgary


Recently I have focused on month by month changes in the Calgary Real Estate Market.  In the short term I do not see any major change in direction for the market. 

Here is an update on some significant projects at various stages of completion:

  1. The BC LNG project, should have some indirect benefit during construction. More importantly, the Alberta Petrochemical industry could nearly double due to symbiotic products in the raw feed-stock coming out of the ground.  If this happens it could be $60 to $100b of investment in Alberta and up to 100,000 jobs.
  2. The Heartland Petrochemical Complex by Inter Pipeline is a $3.5b project and is scheduled for start-up in 2021.
  3. The National Energy Board says that the Trans-Mountain Expansion (TMX) should be approved. This would add another 395,000 bpd to the system, or about $7.3 billion per year.
  4. Line 3 is a $5.3b project in Canada and a $2.9b project for the USA and should be on line in late 2019 adding 375,000 bpd of capacity to the system ($6.8b per year)

Give this and other projects it seems Alberta is poised to see some long over-due activity with jobs and money coming into the province!

Prarie Crocus