Vermilion has a population of 4,300 people and is a strong service centre to the agriculture industry, which is the primary economic base of Vermilion and region.
Heavy crude oil exploration development has found Vermilion to be strategically located. The oil fields in the Lloydminster, Wainwright, Cold Lake and Elk Point areas are easily accessible from Vermilion.
The single largest employer in Vermilion is Lakeland College.
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