Jobs in Medicine Hat: 2024 Medicine Hat Economy & Industries Guide

Medicine Hat Economy Guide

With its diverse range of industries, Medicine Hat, Alberta, has become a great place to start and grow a business. For many people considering moving to Medicine Hat, learning about the local economy, its driving industries, and what it’s like to run a business here are all vital. Here’s everything you need to know about the local economy in Medicine Hat, AB.

Top Employers in Medicine Hat

Largest Employers in Medicine Hat

Medicine Hat has a strong economy with a variety of employers such as municipal and provincial government roles, educational institutions, healthcare services, and private sector companies like Methanex, CF Industries, Cancarb, and Goodyear. This large presence of diverse employers makes it an attractive destination for entrepreneurs looking to start a business.

The Medicine Hat Regional Hospital, operated by Alberta Health Services, is a major employer in the area, serving a catchment area of 117,000 residents. The hospital recently underwent a $220 million expansion project, including an enlarged emergency department and heliport, making it an attractive destination for healthcare professionals.

Canadian Forces Base Suffield, located nearby, is another one of the area’s largest employers, with many commuting from Medicine Hat via the Trans-Canada Highway.

Is Medicine Hat a Good Place to Start a Business?

Medicine Hat is a great place to start a business with its diverse industries, well-established agriculture and natural gas refining operations, and creative entrepreneurial sector. Compared to the province-wide cost of living in Alberta, Medicine Hat is significantly more affordable, further enhancing its attractiveness for business owners. 

The city offers numerous resources to entrepreneurs, such as Medicine Hat College, Community Futures entrepreneurial support programs and Medalta international ceramic arts residency initiatives. Programs like these can provide the necessary guidance and support to help entrepreneurs get their businesses up and running. Community Futures Entre-Corp and Medicine Hat College’s Entrepreneur Development Centre offer a city-wide mentorship network and funding support to small businesses that are well-designed for success.

Furthermore, Medicine Hat’s agricultural prominence is underscored by its status as Canada’s largest irrigation district and Alberta’s largest greenhouse cluster, making it an ideal place to start a business in the agriculture and food sector. Additionally, the city offers access to the 325-bed Medicine Hat Regional Hospital, operated by Alberta Health Services, as well as Canadian Forces Base Suffield located nearby.

Overall, Medicine Hat is an ideal place for entrepreneurs looking to start a business. With numerous resources, a strong economy, and a diverse selection of employers, entrepreneurs have a great opportunity to succeed in the city. Additionally, the city’s agricultural prominence offers great potential for businesses in the agriculture and food sectors.

Medicine Hat Economy Facts & Figures

The cost of living in Medicine Hat is low, making it an attractive destination for those seeking economic stability. With a population of around 80,000 people, the city has seen a steady increase in median household incomes. 

Medicine Hat is heavily reliant on the oil and gas industry, with an employment share of oil and gas workers exceeding national averages by over 400%. Additionally, the city boasts close to eight times the national average of oil and gas support workers one might expect in a city of its size and three times the average number of rail workers. It also employs more than twice the typical number of construction workers and double the number of farmers.

However, the city is diversifying its economic foundation and sectors like professional services, finance, education, and healthcare are experiencing steady growth. This offers more stability and makes it an even more attractive destination for businesses.

Overall, Medicine Hat has a robust economy and is one of the most affordable cities in Alberta, making it a desirable place to live and work. Its economic diversity is an important factor in its success, and the city will likely continue to be an attractive destination for businesses and residents alike.

Top Industries in Medicine Hat

Medicine Hat is home to several prominent industries that drive its economy—many of which are integral parts of the overall economy in Alberta—including healthcare, agriculture, and natural gas refining. These industries, municipal and provincial government roles, and education jobs have helped make Medicine Hat a dynamic and attractive place for professionals seeking new opportunities.

Education is also a major industry in Medicine Hat, with the Medicine Hat School District and the Medicine Hat Catholic School Board providing education for thousands of students. Medicine Hat College also offers various positions, from early childhood education to post-secondary instruction and professional support.

The natural gas and automotive industries are also well-established in Medicine Hat, with companies like Methanex, CF Industries, Cancarb, and Goodyear operating longstanding facilities that serve global markets; many of these same companies are also major players in the Edmonton economy.

Agriculture is a key sector in Medicine Hat, as it is Canada’s largest irrigation district and Alberta’s largest greenhouse cluster. This has made it an attractive destination for agricultural and food investments. Overall, the diversity of industries and opportunities in Medicine Hat makes it an appealing place for professionals seeking new horizons.

Top Industries in Medicine Hat

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

Dream Big in Medicine Hat

Medicine Hat, one of Alberta's best places to live, is an ideal location for businesses to start and grow. The city’s economy is driven by oil and gas, agriculture, and manufacturing, providing great opportunities for entrepreneurs. With a low cost of living and plenty of resources to help businesses succeed, Medicine Hat is an attractive option for those looking to invest in the future.

Thinking about moving to Medicine Hat? Call The Justin Havre Real Estate Team with eXp Realty at (403) 217-0003 to talk with a local real estate agent who can help you find your Medicine Hat dream home.

Post a Comment