The government is doubling the capital maintenance and renewal (CMR) funding in 2020-21 from $937 million to $1.9 billion by accelerating the capital plan. This will allow government to act quickly and work with companies across the province so they can keep their workers employed during these challenging times.
“These infrastructure investments will be focused on projects that can be actioned quickly. By doubling our capital maintenance and renewal project funds, we will deliver much-needed improvements to important assets, keep companies operating and most importantly, keep Albertans working. As the weather improves and buildings are empty, now is the perfect time for us to act.”
A long-term capital maintenance and renewal strategy ensures capital assets are sustained and repaired to generate the most value. These assets include schools, roads, post-secondary institutions, justice facilities and more.
By accelerating the capital plan, significant additional work will be undertaken, including $410 million for transportation projects. This includes an additional $60 million for operating, which covers work repairing potholes across the province.
“Investing in road construction and maintenance represents excellent value for taxpayers. This significant contribution will create thousands of jobs and economic benefits to communities across Alberta. On behalf of our 800 member companies, the ARHCA thanks the Alberta government for this substantial investment.”
- Budget 2020 included $6.9 billion for capital in 2020-21 and $19.3 billion over the three-year fiscal plan
- For 2020-21, this represented an increase of $1.2 billion or 21 per cent compared with Budget 2019
- CMR funding was budgeted at $937 million in 2020-21 and is now expected to grow to $1.9 billion
- 114 projects are currently in planning and design
- There are 95 projects currently in construction including 27 schools and nine major bridge and road projects – not including capital maintenance and repair