After 'doom and gloom' decade, Fort McMurray readies for a boom
Fort McMurray is experiencing an economic resurgence driven by increased oil production, new pipeline projects, and federal policy shifts. Local businesses are reporting growth and hiring, marking a turnaround from the previous decade's economic stagnation.
Why it matters
The region's economic health is a bellwether for the Canadian energy sector and national resource policy.
Already signs are pointing to a boost in growth in Fort McMurray with rising home prices, increased investment in the oilpatch, widespread hiring and longer lines at the Tim Hortons drive-thru.
Much of the growth is in anticipation of a new oil pipeline to the West Coast, as proposed by the Alberta government. On Thursday, the federal government is expected to declare the project is in the national interest.
As more families and businesses move in, roofer William Gilbert sees his business growing alongside Fort McMurray.
With nail guns and roofing hammers, one of Gilbert's crews finishes up attaching shingles on a black two-storey house on the western edge of the community. His 20 employees are working as much as they can to keep up with demand. Though business hasn't spiked overnight, Gilbert expects steady hiring over the next few years.
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