Lethbridge City Picture

By Lara Fominoff

Lethbridge’s economy performing well according to Conference Board of Canada Report

Sep 17, 2019 | 3:56 PM

LETHBRIDGE, AB – While the overall provincial GDP (Gross Domestic Product) has stalled, the City of Lethbridge’s economy continues to perform well, growing by 5.8 per cent in 2017 and 5.1 per cent in 2018. Economic growth is expected to slow down in 2019 and 2020 but is still likely to stay at a healthy level.

That’s according to the Conference Board of Canada’s latest report entitled “Mid-Sized Cities Outlook: Economic Insights into Select Canadian Cities- 2019,” Sault Ste. Marie, Brandon, Chilliwack, Moose Jaw, Red Deer, Prince George and Lethbridge were featured.

Of all cities in the report, Lethbridge showed the biggest GDP expansion in 2019 at 2.6 per cent, and 2.7 per cent in 2020.

Economic Development Lethbridge’s Trevor Lewington says, “Lethbridge economic growth continues to outpace most other areas in Alberta partly due to the strength of our agriculture, manufacturing, and non- commercial services sectors.”

Indeed, the report cites the city’s diverse economic nature as a key component in sustaining employment growth, with 2,900 jobs created. Most of those jobs were in the construction, personal services, and information and cultural industries (including tech-based employment), along with non- commercial services including education and healthcare.

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The mid-sized cities report is published annually and provides public and private insight into the economies of mid-sized Canadian Cities.