Red Deer, AB boasts a diverse economy supported by six primary industries. Manufacturingconstruction, retail, health care, professional services and oil and gas are the primary job providers in Red Deer, and together these industries are expected to account for more than 9,800 new jobs by 2021. Manufacturing in the area is focused on oil and gas with more than 250 manufacturers producing parts for petrochemical and drilling equipment. Though oil values are volatile, Red Deer's diversified economy offers enough strength to withstand changing oil prices.
Red Deer's agricultural industry is focused primarily on meat production, with Olymel and Nossack Food Group processing beef, pork, lamb and poultry here. Centrally located in Alberta, Red Deer is also a prime distribution and warehousing centre for the province. More than 81 per cent of Alberta's population lives within a two-hour drive of the city. The transportation and warehousing centre is dominated by small businesses with 50 employees or fewer, yet it employs over 98,000 people across Alberta.
Red Deer, AB Job Opportunities
The top occupations in Red Deer are industrial, electrical and construction trades, service supports and wholesale and retail trade sales. In all three areas, Red Deer has higher employment percentages than Alberta as a whole. The city's biggest industries by employment are retail trade, health care and social assistance, mining and oil and gas extraction, together accounting for a third of employment in the city. Red Deer College boasts the Centre for Innovation in Manufacturing which helps produce many of the entry-level employees in this field.
Red Deer, AB Employment Trends
Red Deer has experienced population growth of 8.9 per cent and employment growth of two per cent. Its unemployment rates have increased in recent years to about 6.3 per cent, which is slightly higher than the average for Alberta.