Markets and Marketing
Report reveals Alberta potato industry has $2.87B impact on economy
July 5, 2023 By Potatoes in Canada
The Potato Growers of Alberta (PGA) released its study on the economic impact the potato industry in Alberta. The report, titled The Alberta Potato Industry – Growing Success in 2022, outlines the significant growth of Alberta’s potato industry in recent years and documents its economic impact on the economy.
“We knew our industry has seen accelerated growth in recent years, but we had no way of measuring its overall impact on our economy,” says James Bareman, chair of PGA.
The report documents a total economic contribution to the economies of Alberta and Canada of $2.87 billion. It further documents job creation of 9,390 full-time equivalent jobs, $662 million in employment income, $1.33 billion contribution to GDP and $87 million in tax revenue to federal and provincial governments.
“We are pleased that we now have an accurate assessment of our industry’s contribution and delighted with the result,” says Bareman. “The industry could not have grown to this scale without the goodwill and collaboration of all parties – growers, processors, packers, the service sector, the scientific community, and governments. PGA warmly thanks all involved for their excellent contribution to growing our industry into the largest potato sector in Canada.”
The study was completed by two reputable firms, Serecon Inc. and Nichols Applied Management which have conducted many similar economic impact assessments in the past. Their use of standard input/output economic inquiry is consistent with methodology commonly employed across the globe to conduct economic impact assessments. The study methodology was further scrutinized and approved by an independent third-party university economist.
“We wanted to ensure the study was accurate and the methodology was beyond reproach. That’s why we went to great lengths to ensure it was conducted in a manner that would pass rigorous external scrutiny,” says Terence Hochstein, executive director of PGA.
The first part of the report essentially tells the story of the scale and growth of the potato industry in Alberta. The second part explores the industry’s economic impact on the economies of Alberta and Canada as a whole. The report was designed to include rich graphic illustrations depicting the size and scale of the industry. A further set of appropriate graphics is being designed for use in school classrooms.
Visit here for the full report.
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