As the Edmonton Oilers and the Florida Panthers face off in the Stanley Cup Finals, it’s not just the thrilling hockey action that should capture your attention. This year’s finals mark the longest distance ever travelled between two teams in Stanley Cup finals history, highlighting the stark contrasts between the Edmonton region in Alberta, and the greater Fort Lauderdale region in Florida. While the Oilers came out to play on Saturday with an 8-1 win, we’re taking this opportunity to demonstrate how the Edmonton region also presents a compelling case as a superior investment destination.
Overall Cost of Living: The overall cost of living, including rent, is 46.0% higher in Fort Lauderdale compared to Edmonton. For investors, this means higher operational – and less profit.
Housing Costs:
Food and Groceries:
Utilities and Transportation:
While utility costs are slightly higher in Fort Lauderdale, transportation costs are relatively similar.
Fort Lauderdale is known for its vibrant lifestyle and sunny beaches, but this clearly comes at a price. And did we mention that the Edmonton region actually boasts more sunny days per year than Florida? While Fort Lauderdale has an average of 246 sunny days a year, the Edmonton region enjoys 325 sunny days on average annually.
With significantly lower housing and living costs, the Edmonton region offers a more affordable base for businesses. This translates to lower operational costs and higher potential for profitability.
The Edmonton region’s steady economic growth and lower unemployment rates provide a stable environment for investments. The city’s diversified economy, with strong sectors like construction and business services, ensures resilience against economic fluctuations. The Edmonton region was also ranked as North America’s fastest-growing tech ecosystem in 2021.
The Edmonton region’s lower cost of living, combined with its economic opportunities, offers a high quality of life for residents and a productive environment for businesses. The region’s infrastructure, educational institutions, and healthcare services further enhance its attractiveness.
Edmonton’s growing employment rate and strong educational services sector mean a continuous supply of skilled labour, crucial for business expansion and innovation.
Edmonton Oilers games are famous for their massive 50/50 raffles, a testament to the community’s generous spirit and high disposable income. These raffles regularly reach impressive sums, reflecting the financial well-being of Edmonton’s residents. This disposable income is not just spent on entertainment; it’s a sign of a robust local economy where residents have money to invest and support community initiatives.
The Alberta government offers various incentives and support programs for businesses, including tax credits, grants, and subsidies aimed at fostering innovation and growth. These incentives make it financially advantageous to start or expand a business in the Edmonton region.
Companies in the Edmonton region also benefit from Alberta’s pro-business policies, including lower corporate taxes compared to Florida. Alberta’s combined federal and provincial corporate tax rate is 23% while the combined tax rate for corporations in Florida is 26.5%.
As the Edmonton Oilers and Florida Panthers battle it out for the Stanley Cup, we can’t help but spotlight a significant comparison off the ice. The Edmonton region doesn’t just have a better hockey team—they’re a better investment. With lower living costs, robust economic growth, high disposable income, and a high quality of life, the Edmonton region is an ideal destination for investors looking to expand.
While the Oilers aim for victory on the ice, we’re already winning in the arena of economic opportunities.
