Alberta
$30 million investment to help develop national transportation logistics hub at Red Deer Regional Airport
News release from the Province of Alberta
Investing in the Red Deer Regional Airport
Budget 2023 is investing $30 million to expand the Red Deer Regional Airport, clearing the way to develop a national transportation logistics hub in central Alberta.
As Alberta’s government continues its focus on growing and diversifying the economy, an investment in the Red Deer Regional Airport will provide new opportunities in central Alberta. Improvements will support the development of a shipping and receiving hub in central Alberta and attract new investment opportunities to create high-paying jobs.
“Alberta’s airports play a critical role in strengthening and diversifying our economy by expanding access to markets, as we don’t have direct access to tidewater. This investment will allow additional aviation cargo and logistics services, which will not only provide new travel options and get more products to market but also create jobs and help attract new investment to central Alberta.”
The expansion will support the growth of rural communities in central Alberta while enhancing the safety of local residents and airport users by creating an additional emergency access to the airport and the Hamlet of Springbrook. This new funding builds on a $7.5-million grant from Alberta’s government in 2022-23 for the airport to repair and upgrade its runway.
“This is definitely exciting news. The Red Deer Regional Airport is situated along one of the busiest transportation hubs in the province. This expansion will provide huge economic benefits to central Alberta.”
“The city and county recognize the Red Deer Regional Airport as an economic catalyst. The city, as a joint appointer for the airport with the county, is working together to be a key logistics hub based on our prime location. Thank you to the Province of Alberta for their investments in central Alberta.”
“We are glad this government has recognized the unique opportunity the airport and central Alberta can play in expanding our economic impact through diversification. We already have a tenant looking to expand their business as a result of this positive development. By building the road north, we now have the opportunity to access the additional 220 acres, which we hope will bring in cargo, aircraft repair and other airline-related services. This expansion project will also result in a new passenger terminal allowing for 737 aircraft passenger service.”
“Air Spray has partnered with the Red Deer airport for over 50 years. We are the largest business at the airport, employing over 150 highly trained aviation professionals. Air Spray is delighted with the news of this major investment at the Red Deer airport. This investment allows Air Spray to move forward with our expansion plans to add additional hangar space at the airport.”
Funding through Budget 2023 will support north end road construction and civil works, including water sanitation, stormwater and fibre optics, to Township Road 374 to support new business opportunities for the north end land development. The development of the north end road will also create additional emergency access to the airport and will increase safety for the community as it continues to grow.
“As the MLA for Red Deer-North and as a resident of Red Deer, I know this expansion will be a welcomed addition for the community. This expansion will be an asset to the transportation corridor, as it will attract new passenger and cargo services, improve tourism and create jobs. I am happy to see further investments that will support our booming community.”
“Centrally located on the dynamic Calgary-Edmonton corridor, the Red Deer Regional Airport enjoys great competitive advantages. This transformative $30-million capital investment for the airport will leverage those advantages, increasing the economic capacity of the airport, thereby increasing economic activity and prosperity in Red Deer and central Alberta.”
Budget 2023 secures Alberta’s future by transforming the health-care system to meet people’s needs, supporting Albertans with the high cost of living, keeping our communities safe and driving the economy with more jobs, quality education and continued diversification.
Quick facts
- Alberta’s aviation and aerospace industries employ more than 18,000 people (2022, Statistics Canada).
- These industries contributed $1.5 billion to the province’s GDP in 2021.
- The province is home to three low-cost Alberta-based carriers – Lynx Air, Swoop and Flair Airlines.
- Alberta’s government created the Strategic Aviation Advisory Council in 2020 to provide expert advice to government on how aviation and aerospace can increase economic development opportunities, expand markets and create jobs in the province.
Alberta
Alberta aggressively recruiting resident physicians from across Canada
Competitive compensation for resident physicians
A new compensation agreement for resident physicians has been reached, which will help to retain and recruit more physicians throughout Alberta.
Alberta’s government, in partnership with Alberta Health Services (AHS), the University of Alberta, University of Calgary and the Professional Association of Resident Physicians of Alberta has reached a four-year agreement that provides competitive and fair-market compensation for physicians in training.
The negotiated agreement provides wage increases of three per cent in each of the first two years, and two per cent in each of the last two years. It also includes market adjustments that put Alberta on par with other western Canadian medical schools.
Ensuring resident physicians receive competitive, fair-market compensation while they train and provide services across the province will help stabilize and strengthen acute health care today while bringing medical students and ultimately more physicians to the province to support the province’s future health needs.
“Alberta’s government is grateful for all the hard work resident physicians put in as they complete their training. We are pleased to see that a new agreement has been reached and look forward to more physicians calling Alberta home.”
“We are extremely grateful to all of our resident physicians, who play a vital role in caring for Albertans and supporting our front-line physicians and health care teams. This agreement will help us recruit medical students and encourage them to practise in this province.”
Rural and Remote Family Medicine Resident Physician Bursary Pilot Program
The agreement builds on actions Alberta’s government is taking to make the province a more attractive place for medical students and resident physicians to study and practise. On Oct. 3, Alberta’s government announced measures to improve health care in rural and remote communities through the new Rural and Remote Family Medicine Resident Physician Bursary Pilot Program. The bursary program is part of the province’s Rural Health Action Plan.
The pilot program will provide up to $8 million annually for the next two years to medical students in their final year of an undergraduate medical program when they are matched with a family medicine residency program at the University of Alberta or University of Calgary, or to residents currently completing a family medicine residency at either university regardless of their year of study. In return, bursary recipients will commit to delivering comprehensive patient care in eligible communities for three years after completing their residency.
“With this agreement, Alberta strengthens its position as an attractive destination for resident physicians across Canada. By enhancing compensation, training and working conditions, we ensure Alberta recruits and retains the brightest medical talent to serve our communities and shape the future of health care.”
“The University of Alberta is pleased collaborations with our partners have resulted in an agreement that reflects the critical impact resident physicians make in our health care system so all Albertans receive the care they need.”
“Remuneration, respect, retention and recruitment of rural generalists are key to elevating rural hospitals to becoming rural centres of excellence. With this agreement and bursary pilot program, the Alberta government is recognizing rural health as being different, requiring separate and unique solutions for our communities that are mutually beneficial in enhancing the health of rural Albertans.”
Quick facts
- Resident physicians have graduated medical school but are completing post-graduate training in a residency program to obtain their licence to practise. With residency programs requiring an additional two to seven years of post-graduate training, most resident physicians spend more than 10 years training to become fully licensed physicians and surgeons.
- The Professional Association of Resident Physicians of Alberta represents more than 1,660 resident physicians in Alberta.
- The current agreement between AHS, the University of Alberta, University of Calgary and the association ended on June 30, 2024.
- The resident physician agreement is funded by Alberta Health through a grant to AHS and the universities.
Related information
Related news
- Improving health care in rural and remote Alberta (Oct. 3, 2024)
Alberta
“It’s Canada’s Time to Shine” – CNRL’s $6.5 Billion Chevron Deal Extends Oil Sands Buying Spree
From Energy Now
Canadian Natural Resources Ltd.’s $6.5 billion acquisition from Chevron Corp. marks the latest in a string of deals that has helped make it the country’s largest oil producer and brought Alberta’s massive oil sands deposits almost entirely under local control.
CNRL has feasted on the oil sands assets of foreign energy producers over the past decade, snapping up stakes and operations from Devon Energy Corp. and Shell Plc as they shifted away from the higher-cost, higher-emissions oil sands business. Investors have applauded the strategy, which allows CNRL to boost output and make the operations more efficient.
That trend continued on Monday, with CNRL shares climbing more than 4% after the deal with Chevron raised its stake in a key oil sands mine and a connected upgrading facility, while also adding natural gas assets in the Duvernay formation.
“These assets build on the robustness of Canadian Natural’s assets,” said CNRL President Scott Stauth said on a conference call Monday. The deal boosts CNRL’s stake in the Athabasca oil sands project, which it first bought from Shell in 2017, to 90% from 70%.
The acquisition was largely expected and boosts CNRL’s oil and gas output by roughly 9%, adding the equivalent of 122,500 barrels of oil production per day.
“It’s just been a matter of time,” Eight Capital analyst Phil Skolnick said by phone, noting that CNRL had been seen as the logical buyer for Chevron’s oil sands business.
While CNRL also boosted its dividend by 7% on Monday, Desjardins analyst Chris MacCulloch cautioned the company’s additional debt to finance the acquisition “may disappoint some investors” given it plans to temporarily slow capital returns.
Still, MacCulloch said the deal is positive overall for CNRL as it further consolidates assets in the region. “There’s no place like home,” he wrote in a note.
Chevron, for its part, is the latest in a long line of US and international oil producers — such as BP Plc, TotalEnergies SE and Equinor ASA — that have shifted away from the oil sands after spending billions to build facilities in the heavy-oil formation. That has left the oil sands largely in the control of Canadian firms including CNRL, Suncor Energy Inc. and Cenovus Energy Inc.
“There’s no remaining, obvious assets available,” Ninepoint Partners partner and senior portfolio manager Eric Nuttall said after Monday’s deal. Ninepoint owns 3.1 million shares in CNRL, data compiled by Bloomberg show.
Many of those oil sands deals have been struck at prices that favor the Canadian buyers, which have consolidated land, reduced costs and boosted returns in recent years.
“It’s Canada’s time to shine,” Nuttall said, adding that he expects foreign investors will return to the country’s oil producers in the future.
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