The Clock is Ticking on our Infrastructure Deficit

Alberta’s core infrastructure is aging rapidly, with the province’s municipal infrastructure deficit now pegged at $30 billion, says the August 2024 edition of ICBA Alberta’s Construction Monitor, released today.

The challenge is all the greater since Alberta’s infrastructure needs are growing. The province’s population is projected to reach 6.8 million people by 2045 – a nearly 40% growth rate over the next two decades, far exceeding the projected national growth rate of 22%. That will mean hundreds of thousands of new households and homes, and vastly increased infrastructure needs.

“The urgency to act is getting greater by the day,” wrote ICBA Alberta President Mike Martens in his introduction to The Construction Monitor. “Solutions include speeding up approvals and permitting, more skilled trades training in high schools, and attracting more immigrants with construction trades. All of this will help us build more and build faster.”

Click HERE to view the August 2024 Alberta Construction Monitor. Permission is granted to all media outlets to use the data and infographics, with credit to ICBA Alberta.