After ‘doom and gloom’ decade, Fort McMurray readies for a boom

The Alberta community synonymous with meteoric oil booms and crippling busts is now staring down another potential wave of economic fortune.

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.

“I see us doubling, if not tripling,” he said. “We’re slowly getting a boom.”

A series of federal and provincial announcements aimed at growing oil production over the last 12 months are fuelling the sense of optimism, including a new West Coast oil pipeline being developed by Alberta and Ottawa.

In addition, the federal government has wiped away certain environmental policies such as the oilpatch emissions cap, while speeding up the regulatory process to approve major projects and introducing new financial incentives for investors.

The Alberta government aims to double oilsands production to eight million barrels per day by 2035.

The last decade in the region has been lacklustre for many businesses, with little economic growth and a declining population. However, the period was useful in allowing the local government to catch up on building roads and other important infrastructure.

Now, people are moving back, pushing the population to an all-time high.

“It’s been very doom and gloom here since 2015,” said Kyle Vandecasteyen, a councillor with the Regional Municipality of Wood Buffalo. “We’re ready for growth.”

Excitement building

Some construction crews have seen a threefold increase in work, said Dianna De Sousa, the president of the local chamber of commerce.

“It’s organized chaos. They have to turn away work,” she said. 

After several years of a stagnant economy, she said there is excitement and anticipation, mixed with some trepidation.

“The challenge is going to be labour and workforce without a doubt,” said De Sousa, since some tradespeople are already in short supply.

An oil boom will require a plethora of workers from drivers and engineers to mechanics and pipefitters.

The local…