If you’re driving around Calgary or Edmonton these days, you know the frustration of having to deal with road construction.
It seems to be everywhere – causing delays and detours.
But the good news is that the high level of construction is a boost to the economy.
How so?
Numbers released on Tuesday by ATB Financial’s Economics and Research Team show just how important road construction is to the overall economy.
“Of the nearly 700 major projects taking shape in our province, 12 per cent (around 90) of them relate to roadwork. The total cost of these projects is $7.5 billion (that’s according to Alberta Major Projects, an inventory of private and public sector projects in the province valued at $5 million or more),” wrote the team in its daily The Owl economic commentary.
“The most expensive road project, valued at $2.2 billion, is the Southwest Calgary Ring Road. That work started in 2016 and is set to finish in 2021. The next most expensive project is the work taking place on Crowchild Trail, also in Calgary. This project is valued at $1.6 billion.
“Edmonton is also going to see some significant work take place north of the North Saskatchewan River in 2019. The Yellowhead Trail Freeway Conversion is a seven-year project that is going to cost approximately $1 billion.
“Other parts of the province are experiencing road construction, too. Nearly $3 billion worth of other road-related projects are currently being completed or starting in the next year or so.”
Mario Toneguzzi is a veteran Calgary-based journalist who worked for 35 years for the Calgary Herald in various capacities, including 12 years as a senior business writer.
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