Economic impact study of Highway 3 twinning outlines job creation, benefits to business and increased safety.--NEWS FILE PHOTO
reporter@medicinehatnews.com
Earlier this year, the Highway 3 Twinning Development Association selected Price Waterhouse Cooper (PwC) to undertake an Economic Impact Analysis (EIA). The association managed to obtain 100 per cent funding from stakeholders as all their partners across the corridor supported the project.
Stakeholders have emphasized the importance of twinning the highway sooner rather than later, as each year it will become more costly in terms of land prices, material and labour.
The EIA is now complete and the association is ensuring all members receive a copy. Twinning Highway 3 could create more than 12,000 jobs and has an estimated initial capital expenditure of $1.5 billion. The report estimates it will cost $0.7 million per year to maintain the newly twinned portions of the highway, which would provide six ongoing jobs.
Other socioeconomic benefits include improved supply chain and transportation efficiencies, economic benefits to businesses, more tourism and enhanced road safety. The document states there are significant opportunities for growth in southern Alberta and the twinning of Highway 3 will only facilitate that.
Along the 324 km stretch of highway, the following sections were looked at for the economic footprint estimate: Highway 523 to west of Seven Persons, west of Seven Persons to east of Burdett, Fort Macleod bypass, Fort Macleod to Pincher Creek, Pincher Creek to east of Highway 507, and east of Highway 507 to Sentinel.
Collision data provided by the province shows the highest number of accidents occur on two sections of highway that are not twinned, from the British Columbia border to Burmis and from Burmis to west of Cowley. Data from 2018 showed that all sections of the highway which are not twinned have 1.5 times the number of collisions as twinned sections.
In the press release, president of the association Bill Chapman stated, “The recent announcement by this government is very exciting but is not yet a ‘win’. Prior governments have made promises that fell short, and we need to maintain accountability pressure. This study clearly identifies the true value of twinning all of Highway 3, and its constructive impact on this trade route.”
The Highway 3 Twinning Association plans to distribute the EIA to its economic development partners and members. Additionally, it will be sent to Alberta Department of Transportation, the Federal Minister of Transportation, and all southern Alberta MPs and MLAs.
