1208CALG (Okotoks) Okotoks wants to gamble on growth
Okotoks` population cap, long hailed as one of Canada`s boldest sustainability measures, is now being depicted as a hurdle to a regional rail system--and even the town itself is casting it in not-so-glowing terms.
Public meetings and a survey are planned for early 2009 to ask residents if they want to lift the policy of living within the carrying capacity of the Sheep River and limiting growth to 30,000 people, a ceiling it is projected to hit in the next six years.
1208CALG Air Partners rises above economic turbulence
Small Business
Air Partners Corp. - Founded by industry veteran Tim Morgan as an independent firm focused on a small demographic; - Employs about 25 people; - Operates a fleet of five hawker jets--owned by private companies--and charters casual and business clients while offering owners a rate of return.
As the operator of a small charter jet business in an oil town like Calgary, Vik Saini isn`t sure whether he should cheer or jeer as oil prices rise and fall.
1208CALG Calgary`s ring road will still cost a cool $1B
CALGARY -- The more than $1-billion cost of building Calgary`s ring road will stay on course despite a cooling construction sector, says the province.
Jerry Bellikka, spokesman for Alberta Infrastructure and Transportation, said despite a current economic slump, costs associated with building the northeast section of the ring road were locked in at 2007 prices because they were low but rising rapidly.
Epcor has enjoyed "jaw-dropping growth" since 1996, brought in $1.8 billion to city coffers and now employs 2,800 people.
And sitting in his office above Jasper Avenue, Epcor Utilities president Don Lowry says the secret is his dedicated staff, and some incredible foresight by the city.
1208CALG Little change forecast for tight retail market
Calgary`s retail real estate market remains extremely tight, according to a report by Colliers International.
After posting a record-low vacancy rate of 1.13 per cent in spring 2008, the retail market has eased slightly to 1.44 per cent. The commercial real estate firm says the Calgary retail market is forecast to remain in a strong position with vacancy expected to remain relatively stable, easing slightly toward two per cent over the coming year.
1208CALG Alderman fears fallout over home assessments
Calgarians will find out Friday how much the city says their homes are worth, a number that could resuscitate the anger that boiled over during recent budget talks.
The annual assessments, as always, are based on July 1 data--a period of higher prices, before this fall`s tumble.
1208ALTA Conventional oil and gas exploration to decline in 2009
Thanks to a perfect storm of falling commodity prices, ravaged equity markets and higher royalties, Alberta`s outlook for conventional oil and gas exploration has never been so bleak in what is usually the busiest time of the year, industry observers say.
"I think it`s really going to knock it flat," says Steve Hager, an exploration analyst with Calgary-based Discovery Inc., which produces geological studies and in-depth analysis of exploration trends in Western Canada. Hager characterized 2008 as bust-to-boom-back-to-bust again as both oil and natural gas hit new peaks and then abruptly fell off again.
1208REDR Resident fears loss of trees on historic city lot
Red Deer resident Dean Cowan is afraid that the loss of seven trees in his Waskasoo neighbourhood will change the character of the street he lives on.
Cowan moved to his home at 5805 45th Ave. with his wife Doreen eight years ago because they loved the tree-lined streets. Now he has been notified by the city that his neighbour wants to subdivide the property across the street into two lots. The property is next to the historic Galbraith Manor.
1208ALTA Economist thinks Alberta in good shape to weather economic storm
It`s a comparison likely to send shivers down the spines of Albertans who remember the national energy program, sky-high interest rates and plummeting property values.
"The feel of the economy is probably pointing towards something like the early `80s, which was a pretty severe time period," said Mike Drotar, vice-president treasury with Servus Credit Union.
Players in Edmonton`s consumer markets are looking forward to a profitable 2009, despite a looming economic slowdown.
Both real estate and retail associations yesterday told Sun Media - on the eve of New Year`s Eve - that they are expecting steady and measurable declines or even increases in business during the coming year.
Now that the gifts are unwrapped and the Christmas turkey is eaten, much of Calgary is looking to the new year with trepidation and tight hands on their finances as the economic outlook continues to cast a shadow over the city.
Oil futures slipped below$40 US a barrel on Tuesday as the market focused on weak energy demand after hefty price gains a day earlier amid the Israel-Hamas conflict.
H ow does 18 years without a tax increase sound? That`s exactly what Calgary businesses are likely to get when it comes to the business tax.
At a time when many Calgary residents were up in arms over property tax increases that ended up being around 19 per cent compounded over three years, almost two decades without a hike seems like a good deal for businesses.
