Best Communities Home > All Communities > Top 10 List > Most Growth > Regional Municipality of Wood Buffalo
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The Regional Municipality of Wood Buffalo is the new land of opportunity, and not just for energy companies. "Our municipality is often misunderstood and often people think that because we do have a very affluent population," explains Dorothy Innes, senior economic development officer. Once businesses get around this mental block, they will find a youthful, vibrant community. The majority of the population is between the magical working ages of 25 to 45. Employers are years away from losing workers to retirement, because the region is nearly "baby boomer-proof" due to the young demographic. Because the median household income is over $124,000, "most of this youth population is very affluent and so it is absolutely a great time for anyone to come to Wood Buffalo and investigate possibilities for investing in our municipality," says Innes. The benefits of working in the community keep stacking up. The municipal tax rate is one of the lowest in the province, the wait time for a development permit is only seven days and incoming and startup businesses needn't be energy companies basking in the Athabasca oil sands (the second-largest known oil deposits in the world) to experience all the perks. Retail, hospitality and business support industries are finding much success. "We have got so much abundant opportunity and we're almost a natural formula for success," says Mayor Melissa Blake. "While we do have challenges in creating new space for businesses to open and operate, once they get their foot in the door, it is a whole new world of opportunity." And more opportunities are on the way. Suncor Energy Inc., Total E&P Canada Ltd., Syncrude Canada Ltd. and Opti Canada Inc. with Nexen Inc. have announced multi-billion-dollar projects for the area. The downturn will soon be a distant memory, as the need for retail, hospitality and business support services heats up again. "This community has been outstanding for any of our businesses historically, and I have no doubt to believe the future will be even stronger for them," says Blake. |
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| Population | 89,167 |
| Population growth, 2001–2009 (%) | 53 |
| Population within 1–hour commuting distance | 26,000 |
| Household income ($) | 124,592 |
| Average lease rate, Office ($/square foot) | 35 |
| Average lease rate, Retail ($/square foot) | 35.99 |
| Cost of serviced industrial land ($/acre) | 700,000 |
| Average home price ($) | 640,620 |
| Property tax for business (mill rate) | 752.84 |
| Lowest tier business licence fee ($) | 50 |
| Change in number of business licences issued, 2009 vs. 2008 (%) | 43 |
| Change in total value of commercial development permits, 2009 vs. 2008 (%) | 40 |
| Business tax | n/a |
| Wait time for development permits (days) | 7 |
| Special incentives or business-friendly policies | Municipal tax rate is one of the lowest in Alberta |
| Largest employers (with number of local employees) | Syncrude Canada (5,000-9,999); Suncor Energy (1,000-4,999); Shell Canada (500-999) |
| Major projects announced (with budget if available) |
Suncor 3rd upgrader ($11.6 billion); Total E&P ($9 billion); Suncor Voyageur South ($4.4 billion); Syncrude upgrade and Aurora ($2.3 billion); Opti/Nexen Long Lake South ($2.7 billion) |
| Major projects under construction (with budget if available) |
Imperial Oil Kearl Lake ($8 billion); Suncor Fire Bag ($9 billion); Shell Muskeg River ($5 billion); Husky Energy Sunrise Thermal ($2.5 billion); Shell Jackpine ($2 billion) |
| Post–secondary institution(s) | Keyano College |
| Distance from city centre to nearest airport with scheduled service (km) | 16 |
| Special amenities (e.g. lake, ski resort, research institute) |
Oil Sands Discovery Centre; MacDonald Island Suncor Community Leisure Centre |
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June 7th, 2010 at 7:54 pm
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