Leduc County receives federal economic diversification grant
This morning the Government of Canada announced that Leduc County will receive $428,750 in grant funding from Western Economic Diversification Canada to help mitigate the economic impact of the phase-out of coal-fired electricity.
The transition away from coal, mandated by the federal government, will have significant implications for the financial sustainability of many communities across Canada. The change will cost Leduc County approximately $20 million annually.
The funding announced today is a great first step in ongoing support from the Government of Canada relating to the coal transition task force findings. With the impending loss of a vital portion of our municipal tax base because of the federal government's decision to phase out coal-powered electricity generation, there is an urgent need for economic diversification opportunities.
Support in the form of grants is critical -- with the award of the Western Economic Diversification Canada funding, Leduc County will develop a strategy to encourage growth in alternate sectors.
Mayor Tanni Doblanko
The grant will allow Leduc County to develop an Investment Readiness and Implementation Strategy to direct future growth and employment in crucial areas of rural, agricultural, commercial and industrial development. It will also be used to expand the county's internal Economic Development function,
Leduc County is home to Capital Power's Genesee Generating Station, which has a projected retirement date of 2030. The station directly and indirectly employs an estimated 450 people.