Photo: Shane Clausing

By Abby Zieverink

Budget 2022

Grande Prairie Chamber hopeful about ‘economic diversification’ from Budget 2022

Mar 2, 2022 | 2:23 PM

The Chair of the Grande Prairie & District Chamber of Commerce commends the Alberta Government for tabling a balanced budget.

This is the first time since 2014 the province unveiled a balanced budget, which predicts a surplus of over $500-million.

Tertius Genis believes a few things contributed to the surplus. He tells EverythingGP this includes the price of oil, diversification of the economy, expanding healthcare funding, the focus on labour and skill development, reduction in red tape, along with the potential of several large projects slated for Alberta.

He hopes to see a few of those major projects come to fruition in the Grande Prairie region.

“Especially these petrochemical projects such as Northern Petrochemical Corp, and the Nautical Energy slated for our area come to fruition and that we can see some shovels hit the ground.”

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This year’s budget will provide support to building and upgrading schools in the Peace Region, as well as funding to attract healthcare workers.

Genis believes the province’s fiscal restraint will allow Alberta to be in a better position to address future economic challenges.

“We did see improvements that will help economic recovery this includes support for diversification, support in rural broadband, mitigation of labour shortages and training for in-demand skills,” he explained.

“Which means Alberta will be better positioned to where the future economic challenge is. This budget is not balanced in one sector alone, its strength lies in progress towards economic recovery across industries.”

Budget 2022 provides over $600 million in additional funding over the next three years for Alberta at Work; which includes a collection of new post-secondary education, skills training opportunities and employment programs.

Although there are many positives projected to come from the budget, Genis explains there is still a lot of work to be done to address ongoing challenges including labour shortages in key sectors, increased long-term unemployment and supply chain restraints.

“I think the impact we have already seen is there is a shortage of the labour and I think the focus on the in-demand skills by having made money available for that, it will address some of those issues. We will have to see what projects come to fruition to see if that investment is enough.”

He says the Grande Prairie & District Chamber of Commerce will continue to advocate for support for the hard-hitting industries including small businesses, tourism, hospitality and nonprofit sectors.

“We look forward towards a post COVID economy with investments that will spur our economic growth and support our diversification across several sectors including the energy sector.”

The Chamber is hosting Grande Prairie-Wapiti MLA and Alberta’s Finance Minister Travis Toews for an in-person post-budget presentation to the business community on Friday, March 4 at Centre 2000.

Genis says the event is open for all Grande Prairie & Area Chamber members and their invited guests. Doors open at 7:30 a.m. with the Toews set to speak at 8:00 a.m.