The strongly performing commodity markets have been a boon to the Prairie provinces, although some have benefited more than others, according to a report released by the Investment Dealers Association of Canada.

The IDA says no province has benefited more than Alberta from soaring energy and mineral prices. Oil and gas revenues allowed the province to become essentially debt free this year.

With strong finances, Alberta will have considerable fiscal flexibility in the future to move far ahead of all other provinces in terms of corporate competitiveness, the association says. Oil and gas investment figures prominently in the province’s inventory of major projects and will lead business capital spending in the second half of this decade.

The boom in resources has also contributed to a pick up in Saskatchewan’s growth and increased fiscal flexibility. The IDA notes that the province received a credit rating upgrade this year and has been elevated to one of Canada’s three “have” provinces.

According to the IDA, oil, natural gas and potash are attracting fresh capital spending and contributing to an optimistic outlook for the province.

The IDA says Manitoba’s natural resource base is modest compared with its western neighbours, but, with a more highly diversified economy the keystone province has enjoyed a steadier growth path, avoiding the volatility that more resource dependent economies experience.

The association notes that Manitoba possesses significant hydroelectric power potential which will help stimulate economic activity as construction proceeds. As well, the IDA says corporate tax reductions are scheduled over the next two years and will help make Manitoba a more attractive place in which to invest.