The quest for funding for the Prairie Economic Gateway is on.
Approved by the City of Calgary and Rocky View County in February, the inland port initiative has been touted by the city as “a historic partnership projected to generate over $7 billion in economic activity and create more than 30,000 jobs across the region over the next 10 to 12 years.”
As planned, the Prairie Economic Gateway would be located on the eastern city limits by the rail lines.
On Monday, the city said it and the county “have initiated discussions with the provincial and federal governments, moved toward finalizing the terms of reference for the project’s oversight committee and signed an early-stage memorandum of understanding with the Canada Infrastructure Bank to explore an investment partnership.”
In a release, both the city and county expressed excitement at the initiative continuing to move along:
“The Calgary region received another signal of support with the Canada Infrastructure Bank signing a memorandum of understanding with the City of Calgary and Rocky View County to advance work on Prairie Economic Gateway,” said Calgary Mayor Jyoti Gondek.
“This transformative initiative will further our position as Canada’s strongest inland port, modernize our trade and transportation networks and create access to new markets.”
“The Prairie Economic Gateway is a leading example of regional collaboration, creating jobs and unlocking economic opportunities for local industry and investors,” said Rocky View County Reeve Crystal Kissel.
“In partnership with the City of Calgary, this initiative focuses on removing impediments to growth by coordinating infrastructure development, expanding markets and diversifying the regional economy.
“Partnering with the Canada Infrastructure Bank further enhances our shared commitment to positioning our region for long-term success in both national and global markets.”
Multiple provincial cabinet ministers have previously offered their voices to the endorsements for the inland port initiative:
“The Prairie Economic Gateway is a great example of the amazing work that can be done when municipalities work together,” said Municipal Affairs Minister Ric McIver.
“The Prairie Economic Gateway exemplifies strong inter-municipal collaboration, focused on working together toward an economic vision,” said Jobs, Economy and Trade Minister Matt Jones.
“This agreement strengthens our province’s role as a key logistics and distribution hub, ensuring businesses have the infrastructure they need to move goods efficiently across Canada and to global markets,” said Transportation and Economic Corridors Minister Devin Dreeshen.
The city says next steps on the Prairie Economic Gateway include “further collaboration with the primary developer, Shepard Development Corporation, land use planning and securing investment from public and private sector partners.”
