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Alberta

$8.6 billion committed: Province to fund up to 30 new schools and 8 modernizations in each of next 3 years

Published

3 weeks ago

7 minute read

Alberta’s government is committing $8.6 billion to complete and open 200,000 new student spaces across the province in the next seven years.

Alberta’s population is growing exponentially as more people from across Canada and around the world choose to make the province their home. This rapid growth is causing strain on the Kindergarten to Grade 12 education system, with student enrolment increasing at historic rates.

To keep up with fast-rising student enrolment, Alberta’s government is committing $8.6 billion through the new School Construction Accelerator Program. This program will create more than 200,000 new and modernized spaces for students to learn, grow and reach their full potential. Starting in Budget 2025, Alberta’s government will kick-start up to 30 new schools and as many as eight modernizations and replacement schools every year for the next three years.

“Every student deserves a quality education in a school that can meet their learning needs and set them on a path to success in the future. As hundreds of thousands of people are choosing to make Alberta their home, we are responding by funding and building the schools our fast-growing communities need. As we build, we’re asking school boards and municipalities to work with us so we can get shovels in the ground as quickly as possible.”

Danielle Smith, Premier

The Calgary Metropolitan Area and Edmonton Metropolitan Region, along with other communities across the province, have been feeling the pressures of strong student growth and aging school infrastructure. The School Construction Accelerator Program will result in 50,000 new or modernized student spaces over the next three years – and more than 150,000 new and modernized spaces over the following four years. In total, the School Construction Accelerator Program will mean approval for up to 30 new school projects and as many as eight new modernization and replacement projects every year over the next three years. In addition to the school projects, 20,000 new student spaces will be delivered through modular classrooms over the next four years.

“We are investing in the future of our province. Through our commitment to kick-start 30 new schools each year over the next three years, we are delivering new student spaces across the province and in our fastest-growing communities for students to learn, grow and reach their full potential.”

Demetrios Nicolaides, Minister of Education

“I look forward to working with my ministry and industry partners to build the schools Albertans need and ensuring that each project is as unique as the students who use them. School builds, modernizations and renovations support tens of thousands of jobs across the province. As Alberta communities continue to grow, this announcement will allow us to meet demands for spaces faster and more efficiently, all while creating jobs and boosting our local and provincial economies.”

Pete Guthrie, Minister of Infrastructure

The School Construction Accelerator program also takes immediate action to speed up the construction of schools by enabling school projects to be approved in-year for their next stage in the construction process without having to wait for the next budget cycle. This means all previously approved school projects currently in the planning and design stages can move forward to the next stage as soon as they are ready to do so. Through this change, 10 previously announced priority school projects are now approved for the next stage of project delivery, including six moving to full construction.

“We appreciate the government’s recognition that there is an urgent need to provide additional learning spaces for CBE students. CBE families are looking forward to new schools in their growing communities and modernizations to address aging infrastructure. Thank you to the Premier and the Government of Alberta for this much-needed investment.”

Patricia Bolger, board chair, Calgary Board of Education

“Edmonton Public Schools is grateful for the province’s funding for school infrastructure. This crucial support will help us meet urgent needs and positively affect our students and families.”

Julie Kusiek, board chair, Edmonton Public Schools

The population growth has not only increased pressure in the public and separate school system but has increased demand for publicly funded charter programming and space needs. Public charter schools play an important role in Alberta’s education system by offering unique programming to students focused on a learning style, teaching style, approach or pedagogy not already being offered by school boards where the charter is located. As part of this accelerated program, Alberta’s government will add 12,500 new charter school student spaces over the next four years through a Charter School Accelerator pilot program.

“The Association of Alberta Public Charter Schools is elated by this historic capital announcement. It will help ensure that more families and students can access the excellent programming our public charter schools offer for generations to come.”

Joanne Higgins, president, The Alberta Association of Public Charter Schools (TAAPCS)

Independent schools offer specialized learning supports as well as religious and cultural programming to support parental and educational choice. Alberta’s government will continue to explore opportunities for a school capital pilot program for non-profit independent schools to broaden learning options for Alberta families.

Quick facts

  • The School Construction Accelerator Program will deliver more than 200,000 new and modernized student spaces.
    • Previously approved school projects and modular classrooms will create about 50,000 new and modernized student spaces over the next three years.
    • The program will create about 150,000 additional new and modernized student spaces. This includes:
      • more than 100,000 new student spaces
      • more than 16,600 modernized student spaces
      • more than 20,000 student spaces in new or relocated modular classrooms
Related Topics:

This is a news release from the Government of Alberta.

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“It’s Canada’s Time to Shine” – CNRL’s $6.5 Billion Chevron Deal Extends Oil Sands Buying Spree

Published on October 8, 2024

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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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Alberta

Alberta Preparing a New Regulatory Framework for iGaming

Published on October 7, 2024

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With the success of the iGaming market in Ontario, Alberta is looking to it as a blueprint for its own plans in that arena. Despite this, there will likely be differences in the way the two provinces regulate this industry.  These potential differences will likely be based on the strategies laid out by Dale Nally, Alberta’s Minister of Service and Red Tape Reduction.

The manner in which Alberta eventually decides to handle its iGaming regulations will be crucial to maintaining a healthy balance for the industry there. Many other regions have begun seeing the drawbacks of over-regulation in this field. As a result, many new-age casinos operating offshore have been gaining popularity over traditional ones that are often stifled by restrictions. 

This is because restrictions place more onerous burdens on operators and cause lengthy delays with everything from sign-up procedures to payout times. However, offshore casinos have become a revelation for players tied down by these restrictions. For example, crypto casinos and the perks found at sites like an instant payout casino have seen the number of players from regions like the US, UK, Asia, Europe, and even Canada soaring in recent years.

Instant payout casinos in particular have grown very popular in recent years as they offer players same-day access to their winnings. This phenomenon has been playing out amid ever-tightening regulations on iGaming sites being deployed in many prominent markets. 

While reasonable regulations have their benefits, many players feel that most jurisdictions are over-regulating the industry now and players have begun to respond by flocking to offshore sites. Instant payout casinos offer a perfect refuge since platforms like these feature fewer restrictions, more expansive gaming libraries, more privacy, and more generous bonuses.  

While Alberta is drawing heavily from Ontario’s regulatory guidelines, it also wants to retain some aspects that will distinguish it too. Minister Nally has indicated that Alberta will seek a less onerous regulatory regime than Ontario. However, as it is with Ontario, there won’t be a limit imposed on the number of iGaming operators permitted. These would also not require any partnerships with land-based casinos. 

This approach is expected to foster a competitive online betting environment. As such, huge operators are expected to set up shop there and operate freely alongside the government-run Play Alberta—which currently holds a monopoly.

Nally’s ministry has already been busy working on these new regulations and is set to keep being so as it will also be directly responsible for overseeing iGaming regulations and their enforcement. This ensures a separate regulatory body need not be created. It also addresses concerns raised by operators that Alberta’s Gaming, Liquor, and Cannabis Commission (AGLC) would have a conflict of interest if it managed the new regime as the AGLC is a market operator since it runs the Play Alberta platform.

All in all, Alberta’s approach currently does look good and at least considers the need for making it as simple as possible for new entrants to gain access to the market. Alberta’s method to  “conduct and manage” gambling activities is in direct contrast with Ontario’s, where iGaming Ontario (iGO) is simply a subsidiary of the Alcohol and Gaming Commission of Ontario (AGCO).

The revenue-sharing model will also be looked at. Currently, Ontario operators are taxed 20% with the province making $790 million of them last year—with more expansion on the horizon. On that note, Alberta has hinted that it may seek a higher percentage. With other things like consults with indigenous communities and other stakeholders, and setting up transition periods for “grey” market operators, there is more work to be done. However, for now, the future of the iGaming industry in Alberta looks good indeed. 

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