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#3 Manufacturing
The manufacturing sector plays a significant role in the local economy, providing employment opportunities and contributing to the Town's growth. The sector encompasses a wide range of industries, including food processing, metal fabrication, equipment manufacturing, medical supplies, and cannabis processing. Several companies have made a name for themselves in the manufacturing industry, and they continue to thrive due to the Town's strategic location, favorable business environment, and skilled workforce.
Key advantages of the manufacturing market in Olds include a central Alberta location. According to Canadian Manufacturers and Exporters, manufacturing is Alberta's third largest industry at almost $24 billion in direct GDP employing over 126,000. Olds is well-positioned to attract value-added manufacturing. With over 600 employees the industry offers a viable source of talent and skills. Average wages in Alberta for machinists and tooling inspectors is $32.50.; machine operators, mineral and metal processing is $34.52, and mechanical assemblers and inspectors are $34.00. Olds College of Agriculture and Technology is another key advantage for the manufacturing industry. The college is a leader in research and innovation testing, developing and deploying products for the industry. Specialized training programs are also an option to get the specialized talent needed.
The manufacturing industry in Olds has a complex supply chain that includes raw material suppliers, transportation providers, logistics companies, and distributors. Key raw material suppliers
include metals, plastics, and chemicals. Key suppliers of these materials include the Alberta Industrial Heartland, a cluster of petrochemical and energy companies located in the Edmonton area, and suppliers located throughout Western Canada. The transportation sector plays a critical role in the manufacturing supply chain, with Canadian Pacific Railway and Canadian National Railway, and various trucking companies. Logistics providers include third-party logistics companies and in-house logistics departments within manufacturing firms. In Q4 2022 twelve transportation and warehousing businesses were operating in Olds.
Transportation Infrastructure: Olds has a well-developed transportation infrastructure that includes highways, railways, and airports. The region is connected to major highways such as the Queen Elizabeth II Highway, which provides access to markets in Alberta, Saskatchewan, and the United States. Olds is also served by the Canadian Pacific Railway and the Canadian National Railway, providing access to major markets in North America. The Calgary International Airport is located less than an hour's drive from Olds, providing easy access to global markets.
The manufacturing industry benefits from the region's abundant energy resources, including natural gas, oil, and renewable energy sources such as wind and solar. The province of Alberta is home to the Athabasca oil sands, one of the largest reserves of crude oil in the world, and has a well-developed energy infrastructure that can support manufacturing operations.
Olds has several acres of available industrial lands designed to support manufacturing operations and offering a range of infrastructure and services, including utilities, transportation access, and modern water and wastewater infrastructure that can support manufacturing operations. The region has invested in modern treatment facilities and infrastructure to ensure a reliable and sustainable supply of water and wastewater treatment services.
Olds owns and operates in own telecommunications infrastructure - ONet, that includes high-speed internet and fiber optic connections. This infrastructure can support advanced manufacturing technologies and allow companies to connect with global markets.
population.
Regulations for the manufacturing industry encompass various regulations related to: Occupational Health and Safety Act and Regulations to provide a safe working environment for their employees; Alberta Environmental Protection and Enhancement Act (EPEA) sets out the environmental regulations on air emissions, water quality, and waste management. Manufacturers are required to obtain permits and comply with regulations to ensure that their operations do not harm the environment; Canadian Free Trade Agreement (CFTA) governs trade between Canadian provinces and territories and aims to eliminate barriers to trade and to create a more open and competitive market in Canada; federal and provincial tax regulations apply to all businesses in Canada, including manufacturers. These regulations outline the tax requirements for businesses, including corporate income tax, sales tax, and payroll taxes; and Employment standards and regulations set out the requirements for employers regarding wages, hours of work, overtime, vacation, and other employment-related matters. The Employment Standards Code and Regulations apply to all employers in Alberta, including manufacturers in Olds.
Infrastructure is a critical component of the construction industry in Olds, Alberta, as it provides the necessary framework for economic growth and development. The town's infrastructure includes transportation networks, such as roads and highways, as well as utilities like water and sewage systems. Olds is actively investing in infrastructure development, with projects such as the expansion of Highway 2A and the construction of a new wastewater treatment plant. Investing in infrastructure can have a significant impact on the local economy, creating jobs and attracting businesses and investors to the area. As the town continues to grow and develop, infrastructure development will remain a key priority for ensuring long-term economic sustainability.
Invest Olds is a comprehensive resource for businesses and investors interested in the vibrant community of Olds, Alberta. We provide essential information for anyone looking to invest in this thriving region.
Investors are served by an Investor Concierge, a Technical Readiness Team (TRT), and a Development Investment Readiness Tech Team (DIRTT) who streamline the investment process. Your Concierge assists with each step of the process from regulation to ribbon cutting we are here for you. Invest Olds stimulates investment through a host of incentive programs to make an investment not only easy but viable.
Yes, stimulating economic growth and investment is the main priority of Invest Olds. The Town of Olds offers tax incentives for residential and commercial and industrial development. The provincial and federal governments have implemented several stimulus programs to support the growth of business in Olds. See our Stimulus page.
Yes, streamlined regulatory processes are one important advantage for Olds and this backstopped with some of the lowest municipal taxes and development fees in Canada sets Olds above all others.
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