The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest.
Great to see that four of the top ten are Alberta communities; Edmonton (3), St. Albert. (7), Red Deer (9) and Calgary, listed as the number 1 Canadian city to invest in. But, it’s the Number 2 city that should be of interest to forward thinking Albertans;
2. Kitchener-Waterloo-Cambridge, Ont.
REIN refers to Canada’s Technology Triangle as the “economic Alberta of Ontario.” That means KWC is not only seen as the economic engine of the new Ontario economy, but also that it “will outperform all other major regions in eastern Canada,” Mr. Campbell says. For indicators, he points to job growth, student growth and a new light rapid-transit system.
It would be difficult to overstate the impact Research in Motion (RIM) has had in creating what this article describes as the “economic Alberta of Ontario.” that “will outperform all other major regions in eastern Canada,”.
Note that RIM was founded in 1984, just over 25 years ago, whereas Alberta’s energy industry has been around the better part of a century now.
And while we’re reaping the rewards of an increasingly mature, finite, single digit growth energy industry; Albertans need to be actually doing something to create “the economic engine of the new Alberta economy.”
News from the Alberta Party Convention over the weekend indicates that economic diversification ranks as one of the top issues among Alberta voters.
From the Alberta Party website;
Among the dozens of policy resolutions passed, specific highlights include:
- Recognizing and promoting Alberta as a world energy leader and creating an environment favourable to economic diversification.
As Alberta Technology posted in June this year a lot more is said than done about economic diversification in Alberta.
Some relatively straightforward initiatives such as “Flow-Through Shares” tax incentives to other emerging sectors or introducing an “Innovation and Productivity Tax Credit” (IPTC) will go a long way toward Kitchener Waterloo type successes of our own.