Alberta government to increase infrastructure spending
November 6, 2015 by STAFF REPORT
The Alberta government is looking to infrastructure spending and the construction sector to stimulate the provincial economy in light of falling revenues from the oil sector.
That’s the message delivered by Finance Minister Joe Ceci during the province’s recent budget release as he announced a 15 per cent increase, or $34 billion bump in capital spending over the government’s next five years.
The ongoing investment will include $3.8 billion for schools, $4.7 billion for roads and bridges and $2.2 billion for health facilities and equipment. Out of those funds, specific targeted projects include:
- $926 million for flood mitigation
- $830 million for the Calgary Cancer Centre, which still has to go to tender and is now expected to open in 2024 rather than 2020.
- $387 million for rural and urban sustainable housing
- $120 million over two years for new long-term care spaces
- $20 million for the redevelopment of the Misericordia and Royal Alexandra hospitals.
Ceci said the capital investments could create up to 37,000 jobs.
For more details on specific capital projects coming forward, download a copy of Alberta’s 2015 Capital Spending Plan here.