Economy
Major industries include oil and gas, agriculture, forestry, and food services.
Agriculture was the first economic mainstay of Grande Prairie since settlement began in the early 20th Century. It remains part of the local economy today. A variety of crops such as barley, wheat, canola, and oats are grown in the area. Livestock such as cattle and buffalo (bison) are also raised in the area. Despite being north of 55°N, the climate is mild enough to allow for farming on a large scale to prosper. Longer daylight hours during the summer at this latitude aid in crop production. The Peace Country is the northernmost major farming region in North America. Land within the region is still being cleared for new farmland.
Although some oil and gas drilling has been ongoing in the area since the 1950s, oil and gas exploration did not begin to occur on a large scale until the late 1970s. It was in the mid-1970s that the Elmworth gas field was discovered and developed, causing the city to grow rapidly until the last oil boom ended in 1981.
Forestry is a major part of Grande Prairie's economy, for large tracts of forest lie to the south in the foothills of the Canadian Rockies. The Weyerhaeuser Canada kraft pulp mill, opened in 1972 by Procter & Gamble, is one of Grande Prairie's largest employers. Canfor runs a sawmill and lumber yard operation on the west side of the city. The Ainsworth Oriented Strand Board plant opened in late 1995.
Grande Prairie serves as the economic and transportation hub for a trading area of nearly 250,000 people. Grande Prairie is also on the CANAMEX trade route linking Canada, the United States, and Mexico.
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Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)