Rocky View County and the City of Calgary are continuing to make their vision of the Prairie Economic Gateway a reality.
"Following the approval of a historic agreement in February, the municipalities have initiated discussions with the provincial and federal governments, moved towards finalizing the terms of reference for the project’s Oversight Committee, and signed an early-stage memorandum of understanding (MOU) with the Canada Infrastructure Bank (CIB) to explore an investment partnership," said the county in a release.
The proposed hub would share the border in southeast Calgary and is expected to generate $7 billion in economic activity and create more than 30,000 jobs in the area through the development stage.
"By leveraging existing transportation networks, the project aims to reinforce the region’s position as a leading inland port, strengthen supply chains, drive interprovincial and international trade, and support advancing a national trade strategy," added the release.
Additional assessments will be conducted to wrap up the evaluation of the project's viability for financial support.
“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,” she added.
The next steps include working with Shepard Development Corporation, land-use planning, enhancing infrastructure, and improving the supply chain for the future.