Editorial
As one of Canada's richest provinces in terms of natural resources, Alberta has long benefited from the vast wealth generated by the sale of those same resources to other provinces and countries.
Whether it's oil and gas, lumber, or the vast range of agricultural products ranging from beef to chicken, the sale of resources is far and away the biggest economic driver in Alberta.
Those resource revenues, in turn, are the main funding sources for health care, education, transportation and many other public services.
As history has shown time and again, when the markets for the province's products are strong, the good times can be very good indeed, including for rural communities in West Central Alberta.
Unfortunately when those same outside economies take a downturn, the province can very quickly find itself in the unenviable position of seeing its flow of resource revenue dry up in a big hurry.
Such downturns have caused significant hardships at numerous times over the history of the province. Most recently, the recession of 2008 quickly led to funding shortfalls for schools, hospitals and other infrastructure.
Now, in the latest attempt to shield the province from the boom-and-bust economic cycle, the provincial government has unveiled its new Economic Development Framework plan.
The plan encourages the province's diverse economic development community to “rally around a shared vision for growing the Alberta economy,” says Premier Dave Hancock.
As part of the framework, the province says it will develop a Rural Economic Development Action Plan designed to “ensure our rural communities can build on their economic successes and continue to flourish.”
“We must continue to partner with our rural communities to build their strengths, identify new opportunities, and take actions that will encourage sustainable rural economic development,” said Agriculture Minister Verlyn Olson.
While no one can argue with the need to ensure that the province's economy continues to prosper in the coming years, including in rural communities, whether this latest framework plan will achieve that goal remains anyone's guess.
Other Tory governments, including under Ralph Klein, have tried with only modest success to make Alberta's overall economy more diverse.
Now the Hancock government has launched another attempt – interestingly, with the next provincial election just two years away, at the most.
The opposition parties have, of course, put forward their own plans to diversify the province's economy.
While a better diversification of the Alberta economy would be in everyone's best interest, there are current needs to be addressed, including for highway upgrades and other infrastructure improvements in this region.
The PC government should make addressing those needs its priority, at least until the next election.
