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Demand in the Industrial market remained steady throughout the second quarter of 2018 mirroring Alberta’s slow but steady economic recovery. The provincial real GDP has since rebounded from its 2015 recession lows of negative 3.7 percent and is forecasted to grow by 2.7 percent in 2018. The reduced volatility in energy markets has benefited the manufacturing sectors in Nisku and Acheson, as energy-related companies sought out lower tax environments connected to major access routes like Anthony Henday Drive. With no new oil sands projects planned for 2018, the Federal Government’s purchase of the Trans Mountain pipeline expansion quelled some market access concerns for Alberta producers by adding 590,000 barrels per day to total pipeline capacity. Upon completion, this infrastructure will reduce the discount on Alberta bitumen relative to global prices, and directly benefit the GEA by increasing demand for industrial properties.
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