You’ve decided to renovate your home. That’s great news! Renovations are a great way to have the home you have always wanted without all the hassles of moving or custom building. Did you know, that by renovating your home, you contribute to one of Alberta’s leading industries? The construction industry employs 10.5% of the labour force in Alberta. In 2016, The Canadian Homebuilder’s Association (CHBA) released statistics showing 129,288 jobs in Alberta renovations alone. That is a big number. Of those jobs, 14,457 are in Edmonton, and 14,394 in Calgary.
What is considered a renovation? A renovation is the action of developing, improving, or changing your existing home in any way. A project is still considered a renovation when a structure is built on top of an existing foundation, no matter the extent of new construction.
In 2017, Alberta had total employment of 2,286,900. The province’s construction industry employs 241,000 making an employment share of 10.5%. The industry is projected to rise an additional 1.4% by 2021.
Construction accounts for 8.8% of Calgary’s working force (2017). That’s approximately 75,000 construction jobs 14,394 of which are in the renovations category. In 2017, renovations accounted for almost 20% of the construction industry in Calgary.
In 2016, renovation investment value totaled $2.4 billion. It is one of the strongest single wealth-building industries for Calgary families. $990 million was spent on wages. This number is the total purchases for Calgary. These are major contributions to the economy.
Edmonton employs approximately 55,000 construction workers. With 14,457 employees in the renovation sector that accounts for 26% of the construction industry in the area. In 2016, renovation investment value totaled $2 billion. This helps to maintain the largest single wealth-building industry in Edmonton. $996 million was spent on wages. This number is the total purchases for Edmonton.
Ultimate Renovations started in 1979. We’ve been in the industry for nearly 4 decades. With over one thousand clients served and jobs completed, we’ve established ourselves as one of the renovation industry’s top companies. As a 9-time winner of the ‘Renovator of The Year Award’, we’ve employed many Albertans and invested back into the Edmonton and Calgary economies. You can rest easy now, knowing that your home has helped benefit many employees and their families who work in the renovation sector.