Alberta Economic Fundamentals

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Delays threaten local development

Delays caused by a new regional process for approving major development plans in the Edmonton area could endanger billions of dollars worth of oil upgraders, local politicians say.

The Capital Region Board must ratify any proposed projects that affect more than one municipality in the area, including subdivisions that would eventually hold at least 1,000 residents, and heavy industry within five kilometres of a city boundary.

http://www.canada.com/edmontonjournal/news...16-3406933f90d8

 

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Imperial fights `dire` ruling on Kearl oilsands project

CALGARY - Imperial Oil Ltd. has done nothing wrong to justify the removal of a permit by the federal government that is key to its $8-billion Kearl oilsands project, the company argued in court Wednesday.

Canada`s largest integrated oil company told Federal Court Justice Douglas Campbell that the permit, which involves management of fish habitat in its oilsands project, was quashed by the Department of Fisheries and Oceans because of a "fairly minor breach" by the federal/provincial panel that originally gave the project the green light.

http://www.canada.com/edmontonjournal/news...8c-2b49629bf925

 

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Housing charity can`t afford land

A serious land crunch in Calgary`s tight marketplace has prevented a non-profit group that builds housing for the poor from obtaining affordable land.

At the same time, the city is holding back on selling or donating land for affordable housing until a review on homelessness is finished, making matters even tougher for groups such as Habitat for Humanity.

http://www.canada.com/calgaryherald/news/c...1c-b9f8b7b6bdac

 

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Funding for northeast rec centre approved

City Hall - A city committee has unanimously approved handing over $70 million for a new rec centre in the northeast, funding that will pave the way for detailed design plans for the facility.

http://www.canada.com/calgaryherald/news/c...0a-319904b060b7

 

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Banff delays discussion on pay parking

Visitors to this mountain tourist town won`t have to pay for parking anytime soon.

Banff council has put off all further discussion on a pay parking feasibility study until 2009 budget deliberations. Instead, the town will test several new measures to help deal with Banff`s parking woes as an alternate to building a massive parkade.

http://www.canada.com/calgaryherald/news/c...14-74e254a90426

 

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Calgary`s craving for condos stands out

Calgarians are more willing than most Canadian city dwellers to consider owning a condominium purely for investment reasons rather than as a primary residence, says a poll by TD Canada Trust.

The poll said 45 per cent of Calgarians would consider it compared with a six-city average of 38 per cent across the country. And 10 per cent of Calgarians already own an investment condo -- the highest percentage among the six major Canadian cities polled (Greater Vancouver, Calgary, Greater Toronto, the Montreal Metropolitan Community, Halifax and Ottawa).

http://www.canada.com/calgaryherald/news/c...60-b2a564c65d41

 

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OPEC expected to earn $1 trillion

Energy - Thanks to record crude oil prices, OPEC members will likely earn over $1 trillion US this year from oil exports, according to the U.S. government`s top energy forecasting agency.

http://www.canada.com/calgaryherald/news/c...a6-55313348a7c6

 

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Campus-style offices to rise in Harvest Hills

The northeast is booming with new development. The Qualico Commercial division of Qualico Developments West owns the land bordering the south side of 96th Avenue N.E. that stretches all the way from Harvest Hills Boulevard to 3rd Street.

The first phase of the west side has been developed as Harvest Hills Crossing, a major neighbourhood shopping centre anchored by the 52,000-square-foot T&T Supermarket and home to the recently opened Flight Deck International Bar & Grill.

http://www.canada.com/calgaryherald/news/c...87-fb87a614a5b4

 

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Devon profit jumps 15 per cent

Devon Energy Corp. reported a 15 per cent rise in quarterly profit and topped Wall Street forecasts Wednesday, as a nine per cent increase in output and higher prices for crude oil and natural gas boosted results.

First-quarter profit was $747 million US, or $1.66 per share, up from $649 million, or $1.44 per share, a year earlier.

http://www.canada.com/calgaryherald/news/c...ac-42d317990ef8

 

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Strathcona rebuilds peaceful, caring neighbourhood

It was a violent beating. One youth was left barely clinging to life and another was severely injured. The southwest community of Strathcona reeled with shock.

"That was in August. The first safety meeting the community held that fall (2007) was . . ." Kathie McDuff pauses, searching for words. "It was overwhelming. Intense."

http://www.canada.com/calgaryherald/news/n...66-13c00eca2255

 

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Local economy doing well

The Alberta labour environment is staying strong. The provincial unemployment rate remained the lowest and the employment rates the highest in Canada last month, according to Alberta Employment and Immigration.

Alberta had a 0.1 per cent decrease in its unemployment rate last month, while the Medicine Hat - Lethbridge economic region`s unemployment rate decreased from 5 per cent in March to 4.6 per cent in April.

"I`m still a little surprised with the unemployment rate, but it probably has something to do with Lethbridge. We certainly have nothing to be concerned about," says Harold Wilson, executive director of the Economic Development Alliance (EDA) of Southeast Alberta

http://www.mdhnews.com/content/view/22258/1/

 

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Clay District getting cash injection

The Historic Clay District will be receiving $750,000 over five years from the provincial government, ensuring the restoration project will be able to continue improving the Medalta Potteries National Historic District.

"What is great about historic sites is that they are window to our past," Lindsay Blackett, Minister of Culture and Community Spirit, told the audience at the funding announcement.

http://www.mdhnews.com/content/view/22257/27/

 

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Utilities at top of new priority list

Providing sustainable utilities and a unified constructive culture headed the list of the top five priorities for 2008-2010 that was approved by city council this week.

In third place was moving forward with an effective transit system and the proposed new Events Centre. In fourth place was land development and land and properties, followed by improving the environment.

The objectives outlined in providing sustainable utilities included investing in renewable energy; restructuring responsibilities for the energy and tax supported operations; conducting an external review of the energy division; and maximizing the city`s energy value and future sustainability.

http://www.mdhnews.com/content/view/21721/27/

 

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Downtown parking rates to rise

Downtown parking rates are going up in Red Deer on June 2 — by how much depends on where you park.

The city is encouraging motorists to "walk a block and save" by parking in less expensive streets adjacent to the downtown.

http://www.albertalocalnews.com/reddeeradv...es_to_rise.html

 

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Stettler to work out plan with biodiesel firm

More talks are planned between the Town of Stettler and a biodiesel firm to iron out details of a planned $190-million plant.

Stettler Mayor Jim Hunter said Friday he met with Greenlab Energy Canada chief executive officer Robert Morrison this week in the first round of talks to work out a land agreement.

http://www.albertalocalnews.com/reddeeradv...iesel_firm.html

 

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Residents want rec centre

A new recreation facility for Red Deer County residents remains a long-term priority, while trail and park improvements are more immediate targets.

The county`s Recreation Facility Master Plan was presented to the public during an open house Wednesday that drew about 30 people.

http://www.albertalocalnews.com/reddeeradv...rec_centre.html

 

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Residential construction pace remains sluggish

Residential construction in Red Deer continues at a sluggish pace, according to information released Thursday by Canada Mortgage and Housing Corp.

The national housing agency reported that work was started on 27 single-detached homes in the city last month, as compared with 95 in April 2007.

No starts on multi-family units were reported, while a year ago the figure in this category was 22.

http://www.albertalocalnews.com/reddeeradv...s_sluggish.html

 

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McMurray to Sask. road in limbo

SASKATOON - Three years after premiers Ralph Klein and Lorne Calvert held a joint news conference to promise a road connecting the northern communities of Fort McMurray, Alta., and La Loche, Sask., the road is little more than an ox cart trail on the Alberta side.

The upgraded gravel road would cut driving time for oilpatch workers from La Loche from 10 hours to less than two. Completion was planned for this year.

http://www.canada.com/edmontonjournal/news...73-2389f8f0701a

 

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Riverbend fights housing plan

EDMONTON - Residents in one suburban neighbourhood hope to derail Edmonton`s controversial first-time homebuyers program even as construction of the initial townhouses is set to begin.

The plan, which will add up to 900 moderately priced homes on 20 surplus school sites, drew a firestorm of opposition from southwest communities after councillors approved it in 2006 without holding individual public hearings.

http://www.canada.com/edmontonjournal/news...11-fc654a12b936

 

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Convergys closing local call centre

EDMONTON - Convergys will close its Edmonton call centre June 30, joining an exodus of companies struggling with higher costs, a tight labour market and the strong loonie.

The closure of the Mill Woods centre will put 400 people out of work. The company is also closing its 280-employee Red Deer centre June 30, and its Lethbridge operation, with 400 workers, at the end of August.

http://www.canada.com/edmontonjournal/news...00-89f3e4836cb9