Community & Ecomonic Profile - Town of Drayton Valley

Drayton Valley’s Economy
Economic Growth Facts:
Economic Base
The primary economic base in the Drayton Valley area is oil and gas. Situated on the Pembina oil field, Canada's largest and most
prolific oilfield, Drayton Valley has been a pioneering centre of the Province of Alberta’s energy wealth. As a result, Drayton Valley is
also home to many local oil-related supply and service firms.
Forestry is also a major industry in Drayton Valley, with Weyerhaeuser, the world's largest lumber company, operating both a sawmill
and an OSB plant. The presence of Weyerhaeuser has led to many spin-off opportunities both in forestry operations and in servicing
the forest industry. The two major forests nearby are-- Rocky-Clearwater and Whitecourt.
A major centre of the energy and forestry industries for decades, the area has been growing steadily, but the latest surge is the biggest
yet. Continued advances in oil exploration, increased focus on the development of value added forestry and agriculture businesses
combined with the tremendous growth in the environmental and tourism industries, have provided explosive opportunities for both
investment and expansion.
Agriculture is also an important part of the local economy. The rich arable land has been a source of growth and employment. Most
activities focus around the cattle industry and related support services, with cow/calf operations and custom grazing occupying a large
portion of the efforts. Recently, there has been diversification into other areas such as horse production, game farming, exotic animals,
dairy and oilseeds.
Drayton Valley also has a growing small business community. The strengths of Drayton Valley in retail, trade, service and
manufacturing, supported by a resource base of oil, gas, lumber and agriculture, has provided the town with a very stable growth
pattern over the years.
It is Drayton Valley’s goal to establish itself as a centre of knowledge, learning and innovation as well as a centre for research and
development related to energy, forestry and agriculture. Drayton Valley’s strengths include a young population, an untapped resource
base of tourism opportunities, value-added agricultural processing, value-added forestry products and enhanced oil and gas recovery.
Not only are businesses looking at the Drayton Valley area as a good place to set up shop, but people are looking at it as a good place
to put down roots and enjoy a great lifestyle.
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Drayton Valley is THE place to start
and grow your business
• 834% ↑ in the value of Development and Building Permits issued so far in 2006 compared to the same period in 2005 (Jan-April).
• 177% ↑ in Total Development and Building permits issued so far in 2006 compared to the same period in 2005 (Jan-April).
• 169% ↑ in housing starts so far in 2006 compared to the same period in 2005 (Jan-April).
• Youthful population - 67% of the population is under the age of 45 years.
• Median family income - $65,829
DRAYTON VALLEY ECONOMIC & COMMUNITY PROFILE
www.draytonvalley.ca