This should extend into Northern Communities as well.
The economy in the Edmonton area appears to have rebounded from two years of recession, growing by an estimated 3.9 per cent in 2017 and expected to continue expanding in 2018.
The economy in the Edmonton area appears to have rebounded from two years of recession, growing by an estimated 3.9 per cent in 2017 and expected to continue expanding in 2018.
About 11,000 units of housing are predicted to be built, helping to create jobs. The unemployment rate, which dropped to 7.8 per cent in November from 8.2 per cent in October, is predicted to continue declining, although it will likely stay above the national average.
The Edmonton area has a more diversified economy than many other parts of Alberta, but energy and related industries remain important, and continued growth requires oil prices to remain stable.
Here are 10 business-related events to watch for in 2018.
The Sturgeon refinery northeast of Edmonton in Alberta’s Industrial Heartland. PST
Production time
Canada’s first new refinery since 1984 is scheduled to reach full commercial production by this summer, capping years of construction and planning.
The Sturgeon refinery in Alberta’s Industrial Heartland northeast of Edmonton will turn bitumen into ultra low-sulphur diesel and other products in an operation described as the world’s first to incorporate carbon capture from the beginning.
The $9.5-billion project’s first phase will, at full operation, process 50,000 barrels of bitumen daily, with most of the feedstock supplied by a provincial agency from oil the province takes instead of cash royalties.
Cannabis will be Edmonton’s newest legal cash crop in 2018. RYAN REMIORZ / THE CANADIAN PRESS
Edmonton really flying high
Aurora Cannabis should complete construction of Aurora Sky, which it describes as the world’s largest legal marijuana production facility, before Canada legalizes recreational pot consumption July 1.
The 75,000-square-metre greenhouse and processing plant next to Edmonton International Airport expects to see its first harvest early in the year.
At the same time, GrenEx Pharms Inc., the city’s first licensed producer when it won Health Canada approval last September, anticipates reaching full operation next spring on its way to producing 1,000 kg of dried bud annually.
The 930-square-metre cultivation facility inside a former south side warehouse is intended to fill a “craft cannabis” niche.
TD Insurance sign outside Edmonton City Centre GORDON KENT/POSTMEDIA
Moving on out
TD Insurance is closing its call centre in the Oxford Tower on March 2 and sending the operation to Halifax and Saint John, N.B.
While the company wouldn’t indicate how many staff will be affected, this is the third Edmonton call centre TD has closed in the last decade — it shut the TD Canada Trust call centre at City Centre Mall in 2008, and the TD Waterhouse investment centre was shuttered in 2013.
Each of those moves affected about 130 employees.
The Muttart Conservatory forms the background as athletes take part in the Red Bull Crashed Ice World Championships in Edmonton in 2015. SHAUGHN BUTTS / EDMONTON JOURNAL
No bull
The Red Bull Crashed Ice series finale returns March 9 and 10 for an event that produced an estimated $10-million economic impact when it was last held in Edmonton in 2015.
Police calculated 70,000 people observed the action trackside around the Shaw Conference Centre, while thousands more watched on big screens on Jasper Avenue and at Churchill Square.
This year’s track will begin off Jasper Avenue, descend into the river valley and end up in Louise McKinney Park. However, instead of seeing things for free, fans will have to buy tickets costing $5 to $10.
Brad Ferguson, president of Edmonton Economic Development Corp. LARRY WONG / POSTMEDIA
New face at the top
The Edmonton Economic Development Corp. (EEDC) will choose a new chief executive to replace Brad Ferguson, who moves into the private sector effective March 30.
The longtime business consultant, who took over the reins at EEDC in 2012, has used his position to challenge the NDP and pushed the former Progressive Conservative government for more economic diversification and a greener, more competitive energy industry.
No word on who his successor will be at the city-run organization.
A blanket of fog San Francisco skyline
From River City to the City by the Bay
Air Canada begins non-stop Edmonton-San Francisco flights May 1, the first direct link to the gateway to Silicon Valley since United Airlines cancelled its connection in May 2016.
The daily, year-round service is being touted as a major boost for Edmonton’s growing advanced technology industry, as well as a way to increase tourism.
Mayor Don Iveson takes part in the official announcement last May that Edmonton will host the 2018 Cities and Climate Change Science Conference. DAVID BLOOM / POSTMEDIA
Meeting time
Two major conferences will bring the world to Edmonton. In March, the provincial capital will host up to 1,000 scientists and government leaders at the international Cities and Climate Change Science Conference, touted as a milestone forum to tackle climate change.
In July, the Smart Airports and Regions Conference is expected to attract about 650 people from around the world representing airports and companies that operate them to discuss issues related to aviation.
Artist’s rendering of the Premium Outlet Collection at Edmonton International Airport. SUPPLIED
Shopping, shopping, shopping
Two much-anticipated retail operations are expected to open at Edmonton International Airport’s Aerotropolis.
On May 2, shoppers will finally be allowed into the Premium Outlet Collection, a 40,000-square-metre mall containing about 100 stores originally slated to open last fall.
None of the tenants has been publicly identified, but owners Ivanhoe Cambridge and Simon Property Group promise many have never been seen before in Alberta.
Late in the year, Costco plans to open its seventh store in the Edmonton region on the west side of the mall, a 14,000-square-metre facility that will include a gas station, liquor store and jobs for more than 250 people.
The Stantec Tower seen in Edmonton’s Ice District from 102 Street. IAN KUCERAK / POSTMEDIA
Tower of power
Stantec staff are expected to start moving in October to Canada’s tallest building outside Toronto, the 66-storey Stantec Tower, as part of the continuing revitalization of downtown Edmonton.
The Ice District skyscraper has enough room to house 3,500 workers. The top half will have the nearly 500-unit Sky Residences, whose owners can look down on the Legends Private Residences above the JW Marriott Hotel under construction next door.
About 200 people at Canada Place protested last May against moving Vegreville’s case processing centre to Edmonton. SHAUGHN BUTTS / POSTMEDIA
Immigration centre migrating
Edmonton could be on the receiving end of hundreds of new jobs when the federal government closes the Vegreville immigration case processing centre at the end of 2018 and transfers the work to existing federal office space in the city.
The feds say Edmonton’s case processing centre will accommodate 312 employees, and shift work will allow the department to double this capacity.
However, the change could hit Vegreville hard. About 230 people have jobs at the centre, making it one of the town’s largest employers, and local officials have pushed hard to stop the closure or receive government assistance.
gkent@postmedia.com