Alberta Residential Construction Generates $19.3 Billion Investment
Residential construction in Alberta drives creation of 213,463 jobs that generate $13.6 billion in wages annually and $19.3 billion in investment.
The Alberta Economic Impact Report by Will Dunning Inc., a consulting firm that specializes in housing market analysis, is based on actual results for 2015, and includes investment, direct and indirect employment, and wages paid.
Construction consists of new dwellings of all types, including both primary residences and cottages; renovation, conversion and repair of existing dwellings; conversion of non-residential buildings to residential use; and other expenditures relating to residential construction such as realty and legal fees.
The estimates demonstrate the vital and significant economic contribution residential construction makes to generating jobs, wages, and investment. Across Canada, that means 1,008,872 jobs, $58.5 billion in wages and $128.7 billion in investment value.
Click here to read full economic impact reports for Alberta and 13 local communities
For the latest Alberta new and resale housing market news, read monthly updates by Economic Analyst Richard Goatcher for the province and communities of Calgary, Edmonton, Central Alberta, Grande Prairie, Lethbridge, Medicine Hat and Wood Buffalo.