Turner Valley offers competitive business costs through provincial advantages.
Labour force wages are the single largest operational expense for the majority of enterprises. The Alberta Wage and Salary Survey has assisted businesses in making sound investment decisions and developing effective operational plans. The survey which covers over 400 occupations provides information on wages and salaries for full-time and part-time employees in Alberta by occupation, geographic area and industry group. It also includes information on skill shortages in the province.
The cost of living in Turner Valley is competitive compared to the region and province.
Housing Is Affordable
A comparison of the average resale price (2013) shows housing prices are substantially more affordable in Turner Valley than other regions of Alberta:
- Turner Valley – $306,830
- Calgary – $456,703
- Alberta – $371,200
The price-to-income ratio is the basic affordability measure for housing in a given area. It is generally the ratio of median house prices to median household income expressed as a percentage.
The ratio is a basic component of mortgage lending decisions. The lower the number, the more relatively affordable housing is considered. Turner Valley has a competitive price-to-income ratio:
- Turner Valley – 3.8%
- Calgary – 5.36%
- Alberta – 4.7%
Alberta’s personal tax advantage results from a low single rate income tax system (10%) including the highest basic and spousal exemptions in the country. Alberta does not have a provincial sales tax, offers the lowest gasoline tax rate among the provinces, and has comparatively low property taxes. Alberta also has one of the lowest business tax rates in Canada as a result of the low corporate tax rates and does not collect capital tax or provincial payroll tax.