Oil-producer Alberta is poised to enjoy the economic benefits of the completion of the Trans Mountain Pipeline this year with TD Economics forecasting growth of 2.1 per cent in the Prairie province’s Gross Domestic Product (GDP).
“Increased pipeline capacity will allow producers to ramp up output by over five per cent in annual terms while bolstering prices for Canadian oil,” forecasts TD Economics.
In its Provincial Economic Forecast – Better, but Not Strong, TD Economics forecasts Alberta’s employment figures will grow by 2.9 per cent this year, slower than last year but still enough to fuel a rise in consumer consumption of goods and services.
“Underpinned by still-solid growth prospects and lingering labour market tightness, the pace of hiring in the province is likely to remain healthy, even as it slows from last year’s elevated rate,” notes the report.
“Rising employment would support further spending, though per-capita consumption is slated to fall for a second consecutive year.”
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The latest Immigration, Refugees and Citizenship Canada (IRCC) data reveals permanent immigration to Alberta rose by almost 16.3 per cent last year as the province welcomed 57,5809 new permanent residents, up 8,060 from the 49,520 the previous year.
Alberta also welcomed 59,995 temporary foreign workers under the International Mobility Program (IMP) and another 20,415 through the Temporary Foreign Worker Program (TFWP). The province also issued 41,950 study permits to international students last year.
With the anticipated growth in Alberta’s economy, foreign nationals may want to consider immigration to that province which they can do through Canada’s two-tier immigration system.
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It allows foreign nationals to gain their permanent residency through the federal Express Entry system’s Federal Skilled Worker (FSW) program, Federal Skilled Trades (FST) program and Canadian Experience Class (CEC), as well as the Provincial Nominee Programs (PNP) of the 10 Canadian provinces.
Through its PNP, the Alberta Advantage Immigration Program (AAIP), the province welcomes skilled worker applications under the Alberta Opportunity Stream, the Express Entry system, which includes the Accelerated Tech Pathway, and the Rural Renewal Stream.
The AAIP also operates four business programs, the Farm Stream, the Graduate Entrepreneur Stream, the Foreign Graduate Entrepreneur Stream and the Rural Entrepreneur Stream.
AAIP Immigration Is A Two-Step Process
Interested candidates must follow a two-stage process. First they apply for a nomination to the provincial government and then, if nominated, apply for permanent residence to the federal government.
IRCC allocates to AAIP a limited number of nominations each year.
The Alberta Opportunity Stream was designed to simplify the Alberta Immigrant Nominee Program application process, reduce waiting times and make the system fairer for candidates and employers.
The Express Entry Stream allows Alberta to nominate a limited number of qualified candidates from the federal Express Entry pool, through periodic draws.
The Rural Renewal Stream allows qualified candidates with a job offer from an Alberta employer to work in a designated rural Alberta community to apply for Alberta immigration.
The Farm Stream, managed by the AAIP in close collaboration with the Alberta Agriculture and Forestry, targets applicants with farm management skills and sufficient financial resources to invest in a farming business in Alberta.
The Foreign Graduate Entrepreneur Stream is aimed at qualified foreign-educated graduates from outside Canada, who wish to receive permanent residence upon launching start-up enterprises in Alberta.
The Graduate Entrepreneur Stream is aimed at international graduates from Alberta post-secondary institutions who want to establish or operate a business in the province.
The Rural Entrepreneur Stream is aimed at entrepreneurs who want to start a business or buy an existing business in a rural Alberta community.
Unlike some of the other provinces, the AAIP does not reward candidates whose occupations appear on a certain list. Rather, the province publishes a list of ineligible occupations.
The AAIP issues periodic Notifications of Interest (NOI), inviting candidates to apply for nomination under the AAIP Express Entry stream.
The details of each draw are typically published approximately one month after the date of draw.
