RMWB Tax Incentive Fuels Major Energy Investment
Fort McMurray, AB – A major energy investment in the Regional Municipality of Wood Buffalo (RMWB) is set to generate hundreds of jobs and boost the local economy.
Wolf Midstream, a Calgary-based energy company, has announced plans to expand its operations in the region with the construction of a new natural gas facility and the expansion of pipeline infrastructure. The project is estimated to cost over half a billion dollars and create over 275 jobs.
Mayor Sandy Bowman expressed enthusiasm for the investment, stating that it aligns with the municipality’s vision for economic growth. “This is exactly the kind of investment we envisioned when Council put the incentives program in place,” said Mayor Sandy Bowman. “We are open for business and are taking real steps to help drive local economic growth and job creation in a way that benefits residents.”
The RMWB’s tax incentive bylaw, which offers exemptions on municipal taxes for qualifying projects, has proven to be a catalyst for attracting investment. The municipality intends to extend the incentive through 2025 due to the high level of interest from energy companies.
In addition to the economic benefits, Wolf Midstream is also committed to supporting the community. The company has sponsored the Local Hero Foundation, contributed to the Youth Room at the Conklin Multiplex, and invested over $80 million in local Indigenous-owned and associated procurement.