By Jackie Lovely
MLA Camrose
This past week, our province witnessed a week of economic success, unlike anything we have seen in recent years, starting with a very positive second-quarter fiscal update.
According to the update, Alberta continues to be on a path of strong economic growth, with a projected surplus of $5.5 billion in 2023-24, an increase of $3.2 billion from the original forecast in Budget 2023. Despite fiscal improvements, our government remains laser-focused on reducing the province’s debt burden and will pay down a forecasted $3.2 billion in debt this fiscal year.
“Alberta continues to stand out as a leader when it comes to fiscal stability and economic resilience amid so much global uncertainty. Our second-quarter fiscal update is another positive report, showing strength in Alberta’s finances and economy and positioning us for future growth and prosperity,” Finance Minister Nate Horner said, following the update.
While Alberta’s balance sheet is strong and resilient, our United Conservative government continues to prioritize responsible economic management in the wake of ongoing global uncertainty. As we begin preparations for Budget 2024, our government remains focused on responsible spending and Albertans’ core priorities. We will also continue implementing business-friendly policies that help create jobs and attract investment.
Also, this past week, Albertans celebrated Dow’s landmark Path2Zero project in Fort Saskatchewan.
At nearly $9 billion, the Dow Path2Zero project is Alberta’s largest private sector investment in the past 15 years. This project will create approximately 6,000 high-paying jobs during peak construction, and approximately 400-500 permanent high-paying jobs once it is finished. Path2Zero is the world’s first net zero Scope 1 and 2 greenhouse gas emissions integrated ethylene cracker and derivatives site, meaning it is aiding both our province’s path to more sustainable industrial practices while at the same time enabling further economic growth and development.
Last but certainly not least, Alberta is still calling.
This past week, we learned that, in November alone, Alberta gained 8,900 more jobs. This means that over the past 12 months, our employment has grown by 4.1 per cent, well above the national average of 2.5 per cent.
This is due, in part, to our United Conservative government’s investment-friendly policies that have inspired job creators to set up shop and expand their operations in Alberta. Our government is committed to continuing to build relationships with Alberta businesses and industry to ensure our province continues to create jobs, attract investment, and be the best place in the world to live, work, and raise a family.
With 2024 on the horizon, our United Conservative government remains focused and dedicated to creating jobs, attracting investment, and growing and diversifying the economy to better the lives of everyday Albertans.
More good news, and our best days are still ahead!
~ Jackie Lovely is the MLA for the Camrose region. She can be reached at her constituency office by phone at 780-672-0000, or by email at Camrose@assembly.ab.ca.