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By Alessia Proietti

Accountability & forward-thinking

Red Deer & District Chamber of Commerce describe provincial budget as “a good balance”

Mar 1, 2024 | 3:09 PM

The Red Deer & District Chamber of Commerce says they find the provincial government’s 2024-25 budget to be a good balance, reflecting a commitment to accountability and a forward-thinking approach.

Despite a projected surplus, they believe the government’s emphasis on fiscal responsibility, spending restraint, and savings aligns with a vision for a sustainable future for the province.

READ: ‘Responsible plan for a growing province’: Alberta reveals balanced budget, boosting health care and education funding

“Sticking to the Fiscal Framework that the Alberta Government put in place in 2023 is important to build trust with the Alberta business community in our view”, said Scott Robinson, Chief Executive Officer for the Chamber. “The budget continues to ensure that there is a competitive tax environment for business while paying down debt and ensuring we are saving for the future through investment in the Heritage Trust fund. “

One of the standout features of this budget for the Chamber is the allocation of $810 million over three years within the capital plan for the redevelopment and expansion of the Red Deer Regional Hospital Centre, encompassing ambulatory services. They state the crucial investment addresses the pressing need for enhancements in healthcare infrastructure, ensuring effective care for residents. They add the $26 billion overall investment in healthcare this year attests to the government’s dedication to providing Albertans with access to high-quality healthcare services.

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READ: Schematics complete for Red Deer Regional Hospital expansion, says Infrastructure Minister

Equally significant, the say, is the announcement of $13 million over three years for Red Deer Polytechnic and their Centre for Innovation in Manufacturing – Technology Access Centre (CIM-TAC) to facilitate applied research for businesses. As an RDP partner, Chamber officials say they are enthusiastic about the investment, adding it not only fosters a conducive environment for business but also promotes collaborative learning. They believe the initiative is poised to make a substantial impact on the community, supporting the economic development of the city.

The $29 million over two years earmarked for the expansion of the Red Deer Regional Airport stands out as a major boost for central Alberta’s economic development, the Chamber states.

“Recognizing the critical role our airport plays in facilitating the movement of goods and people, we appreciate the government’s acknowledgment of the need to invest in this vital infrastructure,” said Chamber officials.

READ: Final phase of Red Deer Regional Airport expansion begins: extending Airport Drive

Additionally, they state the commitment of $32 million for twinning Hwy 11 is a boon for the region, representing a substantial investment in central Alberta’s growth. Lastly, they believe the allocation of funds for the Red Deer Justice Centre and a $7 million investment in an integrated shelter demonstrates a well-rounded approach to addressing both the infrastructural and social needs of the community.

“While our organization consistently advocates for tax reductions, we acknowledge the necessity of a balanced fiscal approach outlined in this budget,” said Robinson. “We support the need to make difficult decisions to manage rising costs and believe that strategic investments in our communities and economic development will pave the way for success.”

Robinson added that the province’s continuation of previous programs to invest in job creation and strengthening the petrochemical industry, while they won’t show immediate impacts the local economy in the short-term, will have long-term benefits. He says central Alberta is well positioned to use available programs and it will be up to the Chamber to ensure businesses are aware of all the supports they need.

This week, the Chambers of Commerce in Calgary and Edmonton wrote a joint statement, asking the province to consider the federal pharmacare plan through a business lens, noting its impact on labour shortages, employer paid premiums, productivity costs, and fiscal responsibility.

Robinson said that the Red Deer Chamber does not have a firm stance just yet and needs to further review the plan. However, he adds that while there’s potential for the program to relieve businesses of some expenses, most are already invested in healthcare programs to support their employees.

“I’m not sure that the pharmacare announcement by the federal government is actually going to have any significant impact on the business community per se, but we have not really looked at it in detail yet to provide an informed decision about it,” he said.

As further details are expected to be shared in the coming days, the Red Deer Chamber says they believe the province’s initiatives will contribute to the prosperity of businesses and individuals in Red Deer and Alberta.

READ: How Budget 2024 will impact Red Deer and central Alberta

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