Jobs in Lloydminster: 2024 Lloydminster Economy & Industries Guide

Lloydminster Economy Guide

Lloydminster straddles the border of Alberta and Saskatchewan, creating a distinctive economic landscape. This city's economy, driven by oil, agriculture, and manufacturing sectors, is pivotal in its growth and development. Understanding Lloydminster's key industries, employment opportunities, and economic challenges is essential for anyone considering moving to Alberta and exploring different cities. Discover the economic heartbeat of this bi-provincial city and its impact on the local and regional economies.

Top Employers in Lloydminster

Largest Employers in Lloydminster

Lloydminster has a general trade area of around 150,000 people, with a workforce of around 70,000 within a one-hour commute. Lloydminster Airport is one of its biggest employers and uses WestJet as its regular service provider. It’s also one of only five communities in Alberta with access to the CN and CP Rail systems. 

Energy is a major economic sector here, as it is across Alberta’s economic landscape. Cenovus Energy (formerly Husky Energy) is one of its largest and most profitable employers. There are many career opportunities, from rig and plant operators to engineers. There are also administrative positions available, including accounting and human resources positions.

Lloydminster is also home to one of Canada’s largest canola-crushing facilities, ADM. This employer is a global human and animal nutrition leader and a premier agricultural origination and processing company. 

Several big-box retailers employ residents in and around Lloydminster, including Home Depot, Old Navy, Rona, HomeSense, and Best Buy. Complete Distribution Services Ltd. is headquartered in Lloydminster and is a direct-to-store distributor and freight shipping and transportation broker.

This area is growing thanks, in part, to it being one of Alberta’s most affordable cities, and the need for new construction homes and other forms of housing is on the rise. Many contractors and construction companies are employers in Lloydminster, including H&H Contracting LLC, Fortune Civil Construction, RF Welding, and Global Surveys Group. Other top employers here include Bluewave Energy, a supplier and marketer of fuel and petroleum products; Enviroway, a manufacturing company; and Scott Land and Lease, a land real estate company.

Large Companies in Lloydminster

  • Lloydminster Airport
  • Cenovus Energy
  • ADM
  • Complete Distribution Services Ltd.
  • Bluewave Energy
  • Enviroway
  • Scott Land and Lease

Is Lloydminster a Good Place to Start a Business?

Residents old and new may wonder whether Lloydminster is a good place to start a business, and the area is certainly booming. Startup Lloydminster is an entrepreneurial hub in the heart of the city that helps prospective business owners turn their ideas into reality. This collaborative workspace is equipped with the latest technology to help everyone, from solo entrepreneurs and small teams to upcoming startups. The company has a team of experienced business mentors and advisors who can help people achieve their business goals and dreams.

Community Futures is a community-focused developmental lender that helps new businesses develop plans and complete loan applications. The company works with new businesses to ensure that their plans are sound. They also apply flexible interest and repayment terms to meet individual business needs. Not only can they help with securing financing, but they also offer one-on-one business mentoring and tools to help new businesses develop a strong marketing plan.

BDC is another resource for new businesses in Lloydminster, helping with loans and financing as well as cash flow plans. Business owners have access to their network of experienced local business consultants, who help to provide practical advice that encourages positive growth. Since Lloydminster is located close to major urban centres and transportation routes, there is always an opportunity for growth. 

The Primary Trade Area (PTA) is an excellent location for businesses to serve smaller nearby communities, like Cold Lake, Innisfree, Macklin, and Maidstone. Travel and tourism are also a boon, making Lloydminster an excellent choice for startups in the hospitality, food, and tourist industries. The Yellowhead Highway, consisting of Alberta Highway 16 and Saskatchewan Highway 16, passes through Lloydminster. Alberta Highway 16 is an integral roadway for those driving in Edmonton, as it bisects the city and continues on to British Columbia. Highway 17 passes through the provincial border from south to north.

Lloydminster Economy Facts and Figures

Here are some interesting and helpful facts and figures about the economy in Lloydminster:

  • Seven large companies that employ more than 500 people are located in Lloydminster.
  • There are approximately 16,230 homeowners in Lloydminster and approximately 7,970 renters.
  • Around 70% of the Lloydminster population is participating in the labour force.
  • In total, there are approximately 1,163 businesses located in Lloydminster.
  • In a survey conducted in 2022, 41% of businesses in Lloydminster reported that their total revenue has increased over the past 12 months. Of those surveyed, 46% of businesses say they expect their revenue to increase in the next 12 months, 43% expect it to remain the same, and only 10% expect revenue to decrease.
  • The value of Lloydminster's total oil production between August 2021 and August 2022 was $140 billion.

Lloydminster Industries

Lloydminster has many top industries, making it an excellent place for employment and business growth. Petroleum and energy, agriculture, and construction are three of Lloydminster’s biggest economic drivers, and they’re also three of Edmonton’s major industries. Oil drilling is a massive industrial sector that drives the local economy, and many farmers have been financially compensated through lease payments via oil wells that have been drilled on their lands. Those payments have allowed local farmers to sustain their businesses. 

The Canadian Association of Petroleum Producers (CAPP) says that the energy industry will likely continue to grow in the region over the next 15 to 20 years as demand increases. Aside from traditional oil and gas, biodiesel is also growing. ADM recently opened Canada’s biggest biodiesel production facility in the city.

Construction is also a growing industry with an approximate rate of 14.5% year-over-year growth in building permit applications and grants. Residential, commercial, and industrial building companies are all certainly booming here. Because a few major highways run through Lloydminster, trucking and transportation are also key industries. 

Outdoor tourism is also popular as the province is just 40 minutes from the North Saskatchewan River, a beautiful river valley. It’s also 40 minutes from the Battle River, a main tributary. Since this is the heavy oil capital of Canada, many resources and products must be moved in and out of the region via freight. 

Education has also seen an uptick thanks to Lakeland College, a publicly funded post-secondary school with two campuses, one of which is in Lloydminster. This is the country’s only interprovincial college and offers a wide range of opportunities, including carpentry, welding, drafting, design, and other degrees and certifications.

Top Industries in Lloydminster

  • Retail
  • Mining
  • Health Care
  • Accommodation
  • Construction
  • Education
  • Transportation

The Thriving Lloydminster Economy

The economy in Lloydminster—considered by many to be one of the best places to live in Alberta—reflects the unique character of a city divided between two provinces. The blend of oil, agriculture, and manufacturing sectors forms the backbone of its economic strength, offering diverse opportunities for employment and business growth. For those considering Lloydminster as a place to work, live, or invest, understanding its economy offers valuable insights into the opportunities and potential of this dynamic city.

Is Lloydminster calling you? Contact The Justin Havre Real Estate Team with eXp Realty at (403) 217-0003 to reach a local real estate agent who can help you find your dream home in Lloydminster.

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