EDMONTON – ATB Financial and professional services firm MNP have released a second report focused on rising economic opportunities for Indigenous people in Alberta.
An estimated 350,000 and 360,000 Indigenous people lived in Alberta in 2023, representing about 7.5 per cent of the province’s population, an ATB release said, a growth of approximately 12 to 15 per cent since 2019.
“This report serves as a powerful reminder that advancing economic reconciliation is not only the right thing to do but also a strategic imperative for Alberta’s future. By fostering an inclusive environment where Indigenous entrepreneurs and workers can thrive, we unlock significant economic potential for the entire province,” ATB financial director of Indigenous Relations Patrick Twinn said in a statement.
The report found the Indigenous economy in Alberta reached an estimated GDP of $9.2 billion in 2023, accounting for roughly three per cent of the province’s total GDP up from $6.74 billion in 2019.
It also stated increasing Indigenous participation in the labour market could boost Alberta’s GDP by between two and three percentage points ($8 billion to $11 billion) and that closing the income gap could generate an additional $3.2 billion in household spending.
The report also said achieving full economic participation for Indigenous Peoples requires addressing systemic barriers and investing in education and skills development.
“Access to quality education is paramount for empowering Indigenous individuals and communities to reach their full economic potential. By collaborating to create a more inclusive and supportive environment, we can ensure a prosperous future for all Albertans,” MNP partner Susan Mowbray added.
The full report is available here.
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