The Government of Alberta has released its 2023 Capital Plan, revealing a nearly $23 billion investment in infrastructure over three years. The budget document indicates that the largest allocations will go towards municipal infrastructure support, capital maintenance and renewal, and healthcare services. Over the course of 2023-26, the plan states that an average of 20,000 direct and 12,000 indirect jobs will be supported by capital projects.
The Capital Plan also outlines plans to replace the Municipal Sustainability Initiative with the Local Government Fiscal Framework, which will result in an average of $767 million in funding for the next two years. In addition, the budget provides $2.3 billion over three years for road and bridge infrastructure, including engineering projects to twin Highway 3.
The K-12 education system will also receive $1.6 billion in capital projects, which will address larger-than-anticipated enrolment growth in metropolitan areas. The Capital Plan includes funding for new schools in Taber, Airdrie, Lethbridge, Red Earth Creek, Breton, and Calgary, as well as planning for 14 potential new schools in Stettler, Okotoks, High Prairie, Coalhurst, Edmonton, and Calgary.
Moreover, the budget provides $497 million over three years for housing and other social supports in several communities, including Edmonton, Calgary, Lethbridge, High Level, Manning, DeBolt, and Fort Chipewyan. Finally, $3.1 billion will be allocated to health care infrastructure, primarily focused on acute care and continuing care.
Infrastructure Minister and Lethbridge-East MLA Nathan Neudorf has expressed confidence that the investments will help to ensure the long-term prosperity of Alberta. The budget is set to assist municipalities in creating vibrant communities, aid in acquiring, building, and repairing public-use community facilities, and address healthcare and education infrastructure needs.
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