Blackfalds

Review the Business Climate

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.

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Resident Indicator Population Growth Chart

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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.

Alberta Investor Tax Credit (AITC)

Capital Investment Tax Credit (CITC)

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.

Details on Assessments and Tax in Blackfalds are available on the Town’s website here and the property taxes can be estimated using the Tax Calculator.

Comparisons on municipal mill rates can be found here.

Off-site Levies

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.

For more detail on Off-Site levies see the Off-Site Levies Report, call 403-885-9679 or email planning_development@blackfalds.com.

Development Charges

You can use the online Permit Fee Calculator to estimate the costs related to your development project.

Water

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.

Waste Water

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.

Energy

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.

Higher incomes

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.

Affordable housing

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%

Financial Supports:

Venture Capital:

  • Eagle Builders
  • Nova Chemicals
  • Pidherney’s Construction
  • Dow Canada
  • STEP Energy
  • WorleyParsonsCord
  • Sobey’s Inc.
  • Servus Credit Union
  • Wolf Creek School Division
  • Town of Blackfalds

How do I use this information?

Having access to business climate statistics and information is one thing, but it's quite another to use data effectively and in a way that will benefit your business. This next section will help you do just that. Learn how to use this information to make better business decisions.

Monitor the local business climate

On-going assessment of the business climate is an essential part of operating a competitive business. In any business climate, there are numerous factors outside your control that will impact your business, both positively and negatively. The health of the economy impacts all businesses, but small businesses usually feel the effect of economic changes faster than big businesses. Improvements in the economy typically provide a rapid increase in new opportunities for small businesses, while an economic downturn can have a significant and prolonged negative impact.

Unfortunately, you can’t influence the economy, but you can monitor the business climate indicators provided above and then take the necessary actions to minimise risks to your business. Staying up to date with the business climate can also help you identify new opportunities that your business can take advantage of.

Know your costs

All industries are unique and incur different types of costs when starting or operating. Understanding these costs is essential when it comes to setting prices, budgeting and planning for growth or downturns. We’ve provided some of the local costs associated with taxes, development and labour that often get overlooked by businesses. There may be other municipal and provincial costs that apply to your business so we encourage you to contact us to find out more.

Where can I learn more about the business climate?

While we are providing you with a range of valuable information about the business climate, the fact is that there's much more available. In this section we provide you with links to other websites that will supplement our information and help to keep your finger on the pulse.

There may also be other municipal and provincial costs that apply to your business so we encourage you to contact us to find out more.

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Contact us

Jennifer Hartigh
Economic Development Officer
403-885-6246
jhartigh@blackfalds.com

www.blackfalds.com/business