Leveraging Diverse Assets and Regional Advantages to Accelerate the Creative Economy
Alberta's creative economy is experiencing an unprecedented boom, particularly in the film, television, and digital media sectors. This surge is attributed to a strategic harnessing of regional assets and advantages, which has positioned Alberta as a global production hub. The province’s approach provides valuable insights for understanding regional economic growth and can be compared with the development of other areas such as Mooresville, NC.
Alberta's Growth Strategy Alberta has capitalized on several key factors:
Economic Incentives: The provincial government’s film and television tax credit, introduced in March 2021, has made Alberta competitive in the global market.
Infrastructure: Significant investment in purpose-built studios has expanded from 100,000 sq ft in 2021 to over 700,000 sq ft in 2023.
Workforce Development: A robust action plan was implemented to ensure a skilled, diverse workforce.
Geographic and Community Advantages: Alberta’s diverse landscapes and supportive community policies have made it attractive for productions.
Comparison with Mooresville, NC Mooresville, NC, known as "Race City USA," has experienced growth through a different sector: motorsports. Like Alberta, Mooresville has leveraged its unique regional assets:
Industry-Specific Development: Mooresville hosts numerous NASCAR team headquarters, capitalizing on its history and reputation in auto racing.
Educational Infrastructure: The NC Auto Racing Hall of Fame and various technical training facilities support a skilled workforce relevant to its industry.
Business-Friendly Environment: Local government policies in Mooresville encourage business development and investment, similar to Alberta’s tax incentives for film and TV.
Community Engagement: Mooresville’s growth has been supported by active community involvement and a focus on maintaining a high quality of life, paralleling Alberta’s community-focused development approach.
Lessons and Future Outlook Both Alberta and Mooresville illustrate how regions can accelerate economic growth by focusing on specific sectors where they have historical strengths and competitive advantages. While Alberta invests in creative industries, Mooresville focuses on motorsports, yet both regions demonstrate the effectiveness of strategic focus combined with supportive policies and community engagement.
Alberta’s successful growth in the creative economy showcases the importance of strategic investment and sector-specific development, offering valuable lessons for other regions aiming to harness their unique assets. By comparing Alberta’s approach with Mooresville’s focus on motorsports, it becomes clear that targeted regional development strategies, supported by appropriate infrastructure and community engagement, can lead to significant economic advancements. Both regions highlight the potential of specialized growth paths tailored to their unique characteristics and strengths.