AB Economic Fundamentals 2008-12

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1208REDR
Small hikes in billings for most in new year

Red Deer residents and businesses will see their power bills rise as of Jan. 1, after city council approved an increase in the local distribution tariff on Monday.

The change will vary, depending on the type of consumer.

Residents will pay an average of $2 more a month, based on using 600 kilowatts of electricity; small general service users like a corner store will pay almost $3 a month more, based on using 2,000 kilowatts; general service users like restaurants will actually see their bills drop about 50 cents a month, based on using 25,000 kilowatts of power.

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

 

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1208REDR
Public hearing on price of annexation

The public will have their say on a land compensation agreement between Red Deer County and the city.

A public hearing will be held on Jan. 12 at 6 p.m. in city council chambers.

Council gave first reading on Monday to the agreement, which would see the city pay $2.4 million to the county for land it will annex to the north, west and southeast over the next several years.

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

 

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1208CALG
Calgary`s housing market expected to weather storm: Report

CALGARY - Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008 and although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says real estate firm Re/Max.

In its Housing Market Outlook for 2009 report released today, Re/Max said MLS sales in Calgary will drop by 30 per cent this year to 22,500 units compared with 32,176 sales in 2007, but the firm forecasts a rise of two per cent in sales for 2009 to 23,000 units.

http://www.calgaryherald.com/business/Calg...6094/story.html

 

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1208CALG
Troubled $1.4B Bow on track: mayor

Calgary`s mayor is expressing confidence that The Bow -- the biggest office tower project in the city`s history -- remains on track, despite a global credit crunch that has clouded the development`s future.

Construction of the $1.4-billion landmark skyscraper, the future home of energy giant EnCana Corp., is in danger of being halted as the owner/developer attempts to secure financing to finish it.

http://www.calgaryherald.com/Homes/Trouble...6092/story.html

 

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1208EDTN
Two highrise projects proposed for Jasper Ave.

EDMONTON - The aging east end of Jasper Avenue could soon undergo a major revitalization from two proposed housing projects that include one of the tallest apartments in Edmonton.

One plan involves putting a 35-storey building, two other towers that are 32 and 29 storeys, townhouses and other amenities on the old Levi`s plant site near Jasper Avenue and 86th Street, land use planner Armin Preiksaitis said Wednesday.

http://www.canada.com/edmontonjournal/news...78-c81d63007825

 

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1208EDTN
Mayor`s tax strategy KO`d by council

EDMONTON - City councillors shot down a key plank in Mayor Stephen Mandel`s tax-reduction strategy Wednesday when they defeated his proposal to use loans instead of tax hikes to fix crumbling neighbourhoods.

Mandel had argued that borrowing $350 million over seven years to do the work, rather than following the administration`s plan to raise taxes by two to four percentage points annually, would save residents money.

http://www.canada.com/edmontonjournal/news...ae-18e5a40540fc

 

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1208EDTN
Edmonton home prices will remain flat in `09, real estate firm says

Edmonton homeowners shouldn`t bank on any increase in prices in 2009, Remax predicted Wednesday in its Canadian housing forecast.

Prices will also remain flat at an average $335,000 next year after dipping one per cent in 2008, the real estate firm said in a news release.

http://www.canada.com/edmontonjournal/news...5b-aa60654d80be

 

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1208REDR
County tax hike held to inflation

Most Red Deer County residents will avoid a big property tax hit next year, says Mayor Earl Kinsella.

Tax increases along the lines of inflation are what many will see, he predicted on Tuesday.

"On average, it shouldn`t be any more than that."

Council took its first look at the draft budget, which includes a $36.2-million operating budget and $11.4 million in capital spending, at Tuesday`s meeting. It will come back to council for approval in two weeks.

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

 

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1208REDR
Jazz to land?

Red Deer Regional Airport Authority chief executive officer Liam O`Connell brims with optimism that Air Canada is high on the idea of adding scheduled passenger service to Central Alberta.

A decision on the long-sought service could come as early as Tuesday, when a consultant is scheduled to pitch the authority`s case to Air Canada officials in Montreal.

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

 

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1208REDR
More hotel rooms open in Innisfail

INNISFAIL — A year ago, visitors here had a handful of motels to choose from. Today, a pair of national-branded hotels also beckon travellers.

The Best Western Innisfail Inn commenced operations this fall — opening as The Innisfail Inn on Oct. 22 and adopting the Best Western banner on Nov. 13.

And earlier this year, the EconoLodge Inn and Suites began welcoming guests.

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

 

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1208ALTA
Oilsands firms wary of new coalition policy

Future development of Alberta`s lucrative oilsands, the economic engine for much of Canada, remains clouded in uncertainty as petroleum producers --and even the opposition coalition--are unsure how a new federal government might affect energy production.

The Liberal-NDP coalition, with the support of the separatist Bloc Quebecois, is looking to seize power from the Conservative government as early as Monday with a non-confidence vote in the House of Commons.

http://www.canada.com/calgaryherald/news/s...ff-c22d9c41d9d7

 

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1208CALG
Council urged to buy golf land

The city should look at purchasing a private golf course whose proposed sale to developers has angered residents, Ald. Diane Colley-Urquhart says.

She will ask her council colleagues on Dec. 15 to have city staff investigate the possibility of buying the Shaw-Nee Slopes golf course to use as a city facility, as well as ways to fund that, including using municipal, provincial and private dollars.

http://www.canada.com/calgaryherald/news/c...9e-dee2f75d2a4c

 

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1208CALG
City running out of cash, land for burials

With municipal cemeteries facing both a land and a cash crunch, a Calgary alderman believes he has a solution for one of the problems.

Ald. Ric McIver said Wednesday he`ll soon propose skimming off some of the budget surpluses over the next 10 to 15 years and putting that cash into a fund dedicated to maintaining the city`s cemeteries.

http://www.canada.com/calgaryherald/news/c...2e-7800fa8295ee

 

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1208ALTA
Vital stats show 2006 was a baby boom year

Alberta couples were getting hitched in record numbers, and birth rates soared to dizzying highs -- even if an alarming trend of dropping birth weights continued unabated.

It was the heady days of 2006.

The peak of Alberta`s latest economic boom might now seem to be a quickly dimming memory, but the recently released 88-page Vital Statistics Annual Review from that year is an astounding array of population statistics from a province in overdrive.

http://www.canada.com/calgaryherald/news/c...77-63af03d37409

 

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1208CALG
Calgary real estate to endure economic storm: report

Global economic uncertainty weighed heavily on residential real estate activity in most major Canadian centres during the latter half of 2008 and although the forecast for 2009 promises more of the same, most markets are expected to weather the storm, says real estate firm Re/Max.

In its Housing Market Outlook for 2009 report released Wednesday, Re/Max said MLS sales in Calgary will drop by 30 per cent this year to 22,500 units, compared with 32,176 sales in 2007, but the firm forecasts a rise of two per cent in sales for 2009 to 23,000 units.

http://www.canada.com/calgaryherald/news/c...f5-2fecfec31ea5

 

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1208CALG
Schlumberger opens first Canadian technology centre in Calgary

Alberta`s burgeoning heavy oil output has convinced texas-based oilfield services giant schlumberger ltd. to open its first canadian regional technology centre in calgary.

the centre, which required $2 million in renovations to the company`s 11th avenue s. w. facility, was inaugurated wednesday and is schlumberger`s second centre specializing in heavy oil. there are six other schlumberger technology centres--in the u. s., china, the u. K., France and Japan.

http://www.canada.com/calgaryherald/news/c...1c-b3f1b1ecc4bf

 

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1208EDTN
Construction industry upbeat despite delays

EDMONTON - Recent delays of major oilsands projects means only half the estimated 44,000 construction workers will be needed at peak demand in 2010, an economic conference heard Thursday.

While that gives energy companies breathing room to deal with the shortage of skilled labour, soaring construction costs and plunging oil prices, it will hurt subcontractors and suppliers, said Lloyd Dyck, executive director of the Construction Owners Association of Alberta, an umbrella group for the province`s biggest construction spenders.

http://www.canada.com/edmontonjournal/news...97-3ef588c00853

 

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1208EDTN
Mayor urges halt to airport LRT line planning

EDMONTON - Planning underway for an LRT line to the Edmonton International Airport is "ludicrous" because construction isn`t likely to happen for decades, Mayor Stephen Mandel said Thursday.

The transportation department is working with Edmonton Airports and Leduc County to recommend a route south by next spring, but Mandel said they`re focusing on the issue far too early.

http://www.canada.com/edmontonjournal/news...15-356d248dd812

 

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1208ALTA
Statoil ditches bid to build $4B upgrader

EDMONTON - Norway`s StatoilHydro Canada jumped off the regulatory approval train Thursday, killing long-term plans for its $4-billion bitumen upgrader project near Fort Saskatchewan, the fourth cancellation of a proposed project this year.

For local municipalities, the withdrawal of the application came as a disappointment rather than a shock.

http://www.canada.com/edmontonjournal/news...62-c5c6fc9bffef

 

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1208ALTA
Edmonton building permits plunge 22% in national slowdown

OTTAWA - The value of Canadian building permits dropped 15.7 per cent to $5.4 billion in October, with Alberta suffering the third-biggest decline, Statistics Canada said Thursday.

The Edmonton region saw the value of building permits fall 21.9 per cent from September to October to $272.7 million.

That reversed much of a 45.5-per-cent month-over-month gain the Edmonton census metropolitan region posted in September.

http://www.canada.com/edmontonjournal/news...24-79b453f80fb2