[insights]
- The economic contributions of Indigenous peoples in Alberta has not been well-documented historically.
- Understanding the important role of Indigenous peoples in our community can help advance reconciliation.
- The Indigenous economy in Alberta generated $6.7 billion of GDP, equal to Alberta's agriculture sector.
Indigenous peoples are integral to the future economic prosperity of Alberta. The current economic impact of Indigenous peoples in Alberta is significant. However, Alberta will not be able to reach its maximum potential without growing stronger together. To move forward together it is important that there is an understanding of where we are and what the opportunities are.
Until now, a comprehensive assessment of the economic footprint of Indigenous peoples in Alberta was not available. ATB and MNP partnered to produce such a report out of a shared desire to support our clients and our communities in advancing reconciliation by fostering a wider understanding of how Indigenous peoples in Alberta contribute to the economy.
The report is intended to be an important tool for identifying potential opportunities, countering myths and misconceptions, and developing pragmatic solutions to reduce the disparity.
Key takeaways
$6.74 billion in GDP
The Indigenous economy in Alberta generated $6.74 billion of GDP in 2019 (two percent of provincial GDP), which is equal to the GDP generated by Alberta’s agricultural sector
$2.3 billion in spending
Indigenous-owned businesses’ spending of $2.3 billion was estimated to have generated $1.27 billion in direct GDP, and $500 million of indirect GDP in 2019
88%
Total employment among Indigenous population was equivalent to 88 percent of the direct employment of Alberta’s tourism sector in 2019
$44,232
The average income of an Indigenous person in Alberta is $44,232, compared to $63,853 for the non-Indigenous population. Closing the income gap could increase household spending by up to $3 billion annually — supporting up to 14,000 jobs and generating annual tax revenues of between $500 and $600 million.
Top 3 sectors of Indigenous-owned businesses
In 2019 there were estimated to be more than 1,700 Indigenous-owned businesses located on-reserve and 1,250 Indigenous-owned businesses were estimated to be off-reserve.
01.
Construction
02.
Professional, Scientific and Technical Services
03.
Mining, Quarrying, and Oil and Gas Extraction