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 Blackfalds and help you answer the following fundamental questions.
What is the business climate in Blackfalds?
We have compiled the most important aspects of Blackfalds’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 Blackfalds and assistance available to Blackfalds businesses.
Alberta has a very competitive tax environment, with no provincial sales tax, no provincial capital or payroll taxes, no inventory tax, no health care premiums and the lowest fuel tax of all the provinces. The small business tax rate in Alberta is 2% - giving Alberta the second lowest small business tax rate in the country. Effective July 1, 2015 the general Alberta corporate income tax rate is 12%. The combined federal/provincial corporate income tax rate in Blackfalds is 27 per cent for general businesses and 14% for small businesses. A competitive corporate income tax rate is in place for manufacturers.
The provincial government also offers additional tax credits to encourage capital investment into a wide variety of sectors.
Another advantage is that there is no business tax or machinery and equipment taxes in Blackfalds. However, businesses do pay tax on the property they own.
Comparisons on municipal mill rates can be found here.
In Blackfalds, community growth is facilitated by Off-Site levies on the transportation, water, sanitary and storm-water infrastructure needed for development. The intent is to recover the cost of the required infrastructure through fair and equitable levies that ensure financial sustainability for the Town.
You can use the online Permit Fee Calculator to estimate the costs related to your development project.
The Town of Blackfalds receives its drinking water from the Red Deer Water Treatment Plant. This high-quality water is treated before being sent to Blackfalds via the North Red Deer River Water Services Commission regional water line.
Blackfalds sends its wastewater to the Red Deer Waste Water Treatment Facility for treatment and disposal via the North Red Deer River Water Services Commission regional waste water line.
Commercial Solid Waste & Recycling
Commercial solid waste and recycling options are available through local private businesses and the municipality. See Municipal Collection and Transfer Station for more detail.
Alberta’s retail utility market is competitive. However, regardless of who you purchase the retail commodity from or which plan you select, electricity distribution is maintained by Fortis and natural gas distribution by Atco Gas. All services are directly billed by the energy retailer. For more information about energy services in Alberta and a full list of retailers click here.
Alberta’s wage and salary rates are competitive with the rest of Canada and with the United States. When total compensation rates are compared, Alberta provides a significant cost advantage compared to the U.S., largely because of publicly funded health care.
Detailed wage and salary information for over 400 occupations in Alberta is available here.
Alberta is one of the most affordable places in Canada to live. Here’s 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 to or greater than $125,000.
Lower cost of living
Alberta offers many cost-of-living advantages:
- No provincial health-care premiums
- No provincial sales tax (PST). Residents in every other province pay up to 10 per cent in addition to the Goods and Services Tax (GST) paid by all Canadians.
- Tax rebates and credits are available to further help with your finances
You can compare how Canadians spend their incomes in major cities here.
Owning your own home is more affordable in Alberta than in many other Canadian cities. Alberta housing prices are among the lowest when compared to equivalent cities in British Columbia or Ontario.
- No business tax
- No provincial sales tax
- No payroll tax
- No inventory tax
- No machinery & equipment tax
- No health care premiums and free provincial health care insurance
- The lowest fuel tax among provinces
- Lower personal income tax rates
- Many federal and provincial incentives and grants available
- Provincial small business income tax rate of just 2%
- Provincial corporate income tax rate of 12%
- Alberta BoostR
- Alberta Women Entrepreneurs
- ATB LendR
- Bennett Jones Kickstart
- Business Link - Finding Financing
- Catapult Entrepreneurs
- Community Futures
- Innovate Calgary
- Launch Calgary
- ZoneStartups EnergyTech
- Eagle Builders
- Nova Chemicals
- Pidherney’s Construction
- Dow Canada
- STEP Energy
- Sobey’s Inc.
- Servus Credit Union
- Wolf Creek School Division
- Town of Blackfalds