In the early 2000s, the oil industry was in the midst of a boom, and Edmonton was looking to get its economy going.
With more than $50 billion in investments, Edmonton was hoping to grow its economy by investing in a variety of things: buildings, highways, airports and more.
“The Alberta government was in a great position to look at how can we make the Edmonton region more attractive for the oil and gas industry,” said Paul L. Kesten, a professor of public policy at the University of Calgary.
“It’s a very important opportunity to have to grow that economy.”
That opportunity is now long gone.
“I think Edmonton is really going to have a tough time making the transition from a boom to a recession,” Kestens said.
“We have been through a few recessions before.
This is a new one.”
Edmonton’s economy has been hit hard by the downturn.
The city’s economy is now less than half of what it was during the peak oil boom in the late 2000s.
In the first quarter of this year, the city reported a loss of $1.8 billion, or $3.28 per capita, the fifth-largest in the country.
The provincial government estimates that in 2018, the province will have to spend an extra $13 billion on the city’s infrastructure to help the economy recover from the downturn in oil prices.
It’s a burden the city has been counting on the past several years.
But now, with the downturn starting to ease, the government is finally beginning to take some measure of the damage.
“This is a period of transition, and we’re seeing a lot of the measures in place to try to ease that transition,” said Mayor Don Iveson.
“So far, we’ve seen a lot more work being done to make sure that we can do this.”
The city is also looking at a new strategy to help it get back on its feet, in part by offering tax breaks to businesses that want to move into Edmonton.
The tax breaks offer businesses incentives to open new offices or move to Edmonton, as well as incentives for new businesses to keep a certain number of employees.
The City of Edmonton is also offering a tax credit to those who buy office equipment from its office supply chain, which includes companies like Sears and Office Depot.
And in 2017, the Edmonton Oilers and the City of Calgary were awarded $10 million in tax incentives.
Those tax incentives were designed to encourage companies to locate in Edmonton and to expand their workforce.
In Edmonton, the City is also encouraging the creation of more jobs and more new jobs.
“With the downturn, we had some good jobs created,” Ivesons told CBC News.
“And it was nice to see the new job opportunities.
And we’re going to look to them to come back.” “
Now, with some of these companies, we know we’ve got a lot left over.
And we’re going to look to them to come back.”
In a move to help businesses get back into the business, the Alberta government is also working with some businesses to help them prepare for the downturn with a new online training program.
The program is called the Edmonton Jobs Program.
It helps businesses prepare for their relocation to the Edmonton area and to get their new operations in place.
It will offer courses on how to hire, train and pay for employees, as it did in the past.
“In order to provide training for those companies that have been looking for opportunities to stay in Edmonton, we are making sure we’ve done a lot to make it more attractive to those companies to come to Edmonton,” said Ivesont.
“That is our goal.”
But the downturn is also bringing a new level of scrutiny on some Edmonton businesses.
Last week, the municipal auditor general warned that some businesses have been paying more in payroll taxes than they need.
The auditor general’s office says the increase in taxes has led to “disparate impact” on the tax base and the government.
“There’s been a trend in recent years to have some employers in Edmonton pay higher tax rates,” said Mark Williams, the auditor general.
“A lot of businesses have had to cut payrolls because they didn’t have enough cash.”
And that’s causing problems for some businesses.
“One of the biggest problems for many businesses is they don’t have sufficient funds to pay their payroll tax bills,” said Williams.
“They’ve lost the ability to pay that tax.”
Williams says the provincial government has offered some relief to businesses with money left over from the oil boom.
It has also extended the payroll tax freeze from July 1, 2019 to September 30, 2020, until the end of the year.
But there are still some businesses that don’t know when they’ll be able to file their taxes.
“If you don’t file, it could be months before you even know,” said Chris Poulin, a member of the city council’s public works committee.
“You could end up having to close down your