Why Edmonton? Discover the Gateway to the North

WHY EDMONTON? DISCOVER THE GATEWAY TO THE NORTH

LEADER IN ECONOMIC GROWTH

9.6% GDP GROWTH $55,774 PERSONAL INCOME 2019 - 2023 PER CAPITA 2019 (VS. 7.3% CANADA) SECOND HIGHEST IN CANADA 12% HIGHER THAN NATIONAL AVERAGE $66,715 GDP PER CAPITA 2019 $1,149 AVG. WEEKLY EARNINGS ALBERTA, JULY 2019 THIRD MOST PRODUCTIVE CITY IN CANADA 27% HIGHER THAN NATIONAL AVERAGE HIGHEST IN CANADA 13% HIGHER THAN CANADIAN AVERAGE

$20,801 RETAIL SALES 22.7% EMPLOYMENT GROWTH PER CAPITA 2019 SEPT 2009 - SEPT 2019 SECOND LARGEST AMONG MAJOR METROS 8% HIGHER THAN NATIONAL AVERAGE

6.3% PROJECTED JOB GROWTH 2019 - 2023 (4.1% CANADIAN AVERAGE)

Source: Statistics Canada, Conference Board of Canada, CBRE Research

ALBERTA OIL

ALBERTA INDUSTRIAL HEARTLAND

HOME TO OVER 40+ COMPANIES WITH $1.5 BILLION IN ANNUAL EXPEDITURES

CANADA’S LARGEST HYDROCARBON PROCESSING REGION WITH OVER 582 KM OF INDUSTRIAL ZONED LAND. 3RD LARGEST CRUDE OIL RESERVES IN THE WORLD EMPLOYS NEARLY 6,000 HIGHLY SKILLED PROFESSIONALS ALBERTA REPRESENTS 97% OF CANADA’S TOTAL OIL RESERVES

DEVON RESEARCH CENTRE EDMONTON IS THE CLOSEST MAJOR CENTRE CANMET ENERGY, CANADA’S LEADING ORGANIZATION FOR TO ALBERTA’S OIL SANDS, MAKING IT A STRATEGIC BASE FOR MANY INDUSTRIES THAT SUPPORT THE OIL AND GAS SECTOR SCIENTIFIC EXPERTISE ON CLEAN ENERGY TECHNOLOGIES

INNOTECH ALBERTA TEAMS COMPLETE APPLIED RESEARCH LARGEST UNCONVENTIONAL PROJECTS IN THE OIL & GAS SECTOR LIGHT SHALE OIL POOL IN CANADA DUVERNAY FIELD IN WESTERN ALBERTA (3.4 BILLION BARRELS OF MARKETABLE LIGHT OIL AND 6.3 BILLION ENERGY INDUSTRY REVENUE (MILLIONS) BARRELS OF NATURAL GAS LIQUIDS)

$160,000

$140,000 2.9 MILLION BARRELS PER DAY PRODUCED BY THE OIL SANDS IN 2018 $120,000 $100,000 OIL SANDS EMISSION INTENSITY $80,000 DECREASED BY 28% FROM 2000-2017, DUE TO IMPROVEMENTS IN TECHNOLOGY $60,000

$40,000

$20,000

$- 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019e Source: Alberta Industrial Heartland, Arc Energy Institue, National Energy Board, Government of Canada

ALBERTA REPRESENTS 22% OF CANADA’S EXPORTS $117.6 BILLION IN THE LAST 10 YEARS ALBERTA EXPORTS IN 2018 [ [

ALBERTA’S TOP NON-ENERGY EXPORTS TOP EXPORT MARKETS IN 2018

USA CHINA JAPAN CROP PRODUCTION

FOOD MANUFACTURING

CHEMICAL MANUFACTURING

PRIMARY METAL MANUFACTURING

MEXICO SOUTH MACHINERY MANUFACTURING KOREA

Source: Statistics Canada

COMMITMENT TO EDUCATION

ALBERTA’S WORKFORCE IS HIGHLY EDUCATED, WITH THE SECOND HIGHEST RATE OF POST-SECONDARY ATTAINMENT (INCLUDING DIPLOMAS, DEGREES, AND CERTIFICATES) IN CANADA. IN TOTAL, THE SIX POST-SECONDARY INSTITUTIONS PROVIDE TRAINING AND EDUCATION TO 125,000 STUDENTS IN EDMONTON.

TOP UNIVERSITIES EDMONTON LEADS THE WAY

WORLD’S TOP MACEWAN UNIVERSITY 100 RANKED UNIVERSITIES 19,350 STUDENTS UNIVERSITY OF ALBERTA (2018 QS WORLD UNIVERSITY RATING)

UNIVERSITY OF ALBERTA 40,060 STUDENTS ONE OF THE LARGEST APPRENTICESHIP TRAINERS IN CANADA

NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY NORTHERN ALBERTA INSTITUTE OF TECHNOLOGY 45,700 STUDENTS

OVER THE PAST THREE YEARS, THE NUMBER OF ENROLLMENTS TO ALBERTA’S POST-SECONDARY SYSTEM INCREASED EVERY YEAR. THIS GROWTH WAS DRIVEN BY INCREASES IN APPLICANTS FROM BOTH INSIDE AND OUTSIDE CANADA.

117,000 INTERNATIONAL POST-SECONDARY STUDENT ENROLLMENT HAS MORE THAN DOUBLED OVER THE PAST TOTAL 10 YEARS. COLLEGE STUDENTS IN THE 2016-17 ACADEMIC YEAR, INTERNATIONAL STUDENTS ACCOUNTED FOR 9.6% OF ALL STUDENTS AT POST-SECONDARY INSTITUTIONS IN ALBERTA. EDMONTON TOP COLLEGES & UNIVERSITIES

Source: Government of Canada

INNOVATION STARTS HERE

NATIONAL INSTITUTE FOR NANOTECHNOLOGY HEALTH CITY INITIATIVE UNIQUE NANOTECHNOLOGY COLLABORATION HUB IN A $65 ALBERTA HEALTH SERVICES (AHS) IS THE LARGEST MILLION, 225,000 SF FACILITY PROVINCE-WIDE FULLY INTEGRATED HEALTH SYSTEM PROVIDING SERVICES TO OVER FOUR MILLION ALBERTANS. THE HEALTH AUTHORITY COLLECTS A LARGE AMOUNT ARTIFICIAL INTELLIGENCE HUB OF CLINICAL AND CORPORATE DATA, WHICH PROVIDES A DEEPMIND’S FIRST EVER INTERNATIONAL ARTIFICIAL UNIQUE OPPORTUNITY TO EXAMINE DISEASE CLUSTERS, INTELLIGENCE RESEARCH OFFICE IN EDMONTON PRACTICE VARIATION AND HEALTH OUTCOMES

THE ACTIVE-AURORA PROJECT: CANADA’S FIRST WIRELESS $400 MILLION FOR A NEW HOSPITAL IN SOUTH EDMONTON CONNECTED VEHICLE TEST-BED NETWORK TO EXCHANGE (COST ESTIMATE $2 BILLION) INFORMATION IN REAL-TIME WITH ROADSIDE EQUIPMENT

EDMONTON WASTE MANAGEMENT CENTRE ALBERTA MACHINE INTELLIGENCE INSTITUTE 233 HECTARES CENTRE FOR ADVANCED WASTE PROCESSING THE ALBERTA MACHINE INTELLIGENCE INSTITUTE (AMII) IS A AND RESEARCH FACILITIES WHERE WASTE IS TRANSFORMED WORLD LEADER IS MACHINE INTELLIGENCE INTO USEFUL RESOURCES

AN ESTIMATED $25 MILLION IN OUTSIDE INVESTMENT IN FIRST COMMERCIAL SCALE WASTE-TO-BIOFUEL FACILITY IN NEW JOBS AND ECONOMIC IMPACT HAS BEEN ENABLED BY THE WORLD AMII SINCE 2016

EDMONTON BY THE NUMBERS

66% EMPLOYMENT RATE 4% HIGHER THAN THE NATIONAL AVERAGE 71% LABOUR FORCE PARTICIPATION RATE 5% HIGHER THAN THE NATIONAL AVERAGE

YOUNGER THAN AVERAGE 37.7 AVERAGE AGE STRONG POPULATION GROWTH (CANADIAN AVERAGE 41) 7.2% 213,260 79,927 26% GROWTH FORECAST MIGRATION FORECASTED MIGRATION (EDMONTON’S SHARE OF MILLENNIALS IN 2016) (2019-2023) (2009-2018) (2019-2023)

Source: Conference Board of Canada Source: Census Data 2016, Statistics Canada

AFFORDABLE LIVING 2-BEDROOM RENTAL: $1,246 NEW HOUSING CONSTRUCTION 24% CHEAPER THAN VANCOUVER PRICE: $548,535 15% CHEAPER THAN TORONTO 56% CHEAPER THAN TORONTO 88KM OF 79% CHEAPER THAN VANCOUVER RIVER VALLEY PARK THE LARGEST URBAN PARK IN NORTH AMERICA Source: CMHC, October 2018. Source: CMHC, September 2019. [ 22 TIMES LARGER THAN CENTRAL PARK [ 7 PROJECTS THAT ARE RESHAPING EDMONTON’S DOWNTOWN

THE ICE DISTRICT ARTS HABITAT EDMONTON: ARTSCOMMON AND ARTISTS ROYAL ALBERTA MUSEUM QUARTERS

STANLEY A. MILNER LIBRARY EDMONTON OPERA CENTRE

ALLARD HALL, MACEWAN WINSPEAR CENTRE FOR MUSIC UNIVERSITY THE FESTIVAL CITY OVER 55 ANNUAL FESTIVALS AND EVENTS

• EDMONTON INTERNATIONAL FRINGE THEATRE FESTIVAL • EDMONTON FOLK MUSIC FESTIVAL • A TASTE OF EDMONTON • EDMONTON INTERNATIONAL STREET PERFORMERS FESTIVAL • EDMONTON DRAGON BOAT FESTIVAL • NEXTFEST • EDMONTON PRIDE FESTIVAL • SYMPHONY UNDER THE SKY • ICE ON WHYTE FESTIVAL • FREEWILL SHAKESPEARE FESTIVAL • K-DAYS • WHYTE AVENUE ART WALK

Source: Edmonton Economic Development Corporation

PROJECTS UNDER CONSTRUCTION PROPOSED PROJECTS KEYSTONE XL PIPELINE $10.0 BILLION FRONTIER OIL SANDS MINE $20.6 BILLION LINE 3 PIPELINE REPLACEMENT $7.5 BILLION MEG MAY RIVER PROJECT $10.0 BILLION INTERPIPELINE INTEGRATED PROPANE $3.5 BILLION SOUTH EDMONTON HOSPITAL $2.0 BILLION DEHYDRATION AND POLYPROPYLENE PLANT VALLEY LINE WEST LRT $2.2 BILLION VALLEY LINE SOUTHEAST LRT $1.8 BILLION

PROJECTS BY INDUSTRY

OIL AND GAS $66.9 BILLION PIPELINES $33.4 BILLION INFRASTRUCTURE $20.7 BILLION INDUSTRIAL $17.6 BILLION MIXED-USE $13.6 BILLION POWER $9.3 BILLION NORTHWEST NORTHEAST FORT INSTITUTIONAL $9.0 BILLION MCMURRAY TOURISM / RECREATION $6.7 BILLION PEACE RIVER RESIDENTIAL $5.7 BILLION EAST CENTRAL COMMERCIAL/ RETAIL $2.6 BILLION GRANDE PRAIRIE TOTAL: $185.4 BILLION COLD LAKE WHITECOURT CENTRAL WEST CENTRAL ST. ALBERT FORT SASKATCHEWAN EDSON HINTON SPRUCE GROVE EDMONTON LEDUC LLOYDMINSTER

SOUTH CENTRAL RED DEER $68.1 BILLION CENTRAL & NORTHEAST UNDER CONSTRUCTION BANFF CALGARY $117.3 BILLION 35.0% SOUTH CONSTRUCTION MEDICINE HAT PROPOSED ACTIVITY [ [ LETHBRIDGE

Source: Government of Alberta, as of September 2019.

ALBERTA’S INDUSTRIAL HEARTLAND IS ONE OF THE WORLD’S MOST ATTRACTIVE LOCATION FOR CHEMICAL, PETROCHEMICAL AND OIL AND GAS INVESTMENT. THE PROXIMITY TO COMPETITIVE ABUNDANT NATURAL RESOURCES, POLITICALLY AND FISCALLY STABLE GOVERNMENT, AND ACCESS TO SKILLED LABOUR, HAS POSITIONED THE HEARTLAND AS CANADA’S LARGEST HYDROCARBON PROCESSING REGION.

THE HEARTLAND PROCESSING REGION OVER $40 BILLION INVESTED TO DATE FRACTIONATION CAPACITY (485 MBPD) $30 BILLION PROPOSED INVESTMENT BY 2030 PETROLEUM REFINING (450-500 MBPD EXPANDING TO 600 MBPD) PRODUCES 43% OF THE NATIONAL BASIC CHEMICAL MANUFACTURING BITUMEN UPGRADING (255 MBPD) SERVES AS LOGISTICS & MARKET CENTRE FOR MULTIPLE PIPELINE TERMINALS Source: Alberta Industrial Heartland

582 KM2 OF INDUSTRIAL ZONED LAND

WHY EDMONTON? | DISCOVER CANADA’S GATEWAY TO THE NORTH © 2019 CBRE, LTD. | 11 FOR MORE INFORMATION ABOUT THIS REPORT OR CBRE RESEARCH: DAVE YOUNG ANNALISE BOYTINCK Exec. Vice President/Managing Director Sr. Research Analyst +1 780 917 4625 +1 780 917 4629 [email protected] [email protected]

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