Cold Lake region receives provincial and federal economic funding

The Cold Lake region in Alberta is receiving significant provincial and federal investments aimed at economic development, energy, and aviation.

Through Alberta’s Northern and Regional Economic Development (NRED) Program, the City of Cold Lake and the Municipal District of Bonnyville will receive a combined $227,500. Cold Lake will use $100,000 for feasibility studies on 75 acres of commercial land, while Bonnyville will receive $127,500 to explore the establishment of an industrial corridor.

On the federal level, $6.6 million has been announced to support aviation training and Indigenous-led energy projects. This includes a $6 million repayable investment for Etthen Energy Corporation, a company owned by the Cold Lake First Nations, to expand heavy oil resource development on reserve lands. The funding aims to strengthen the region’s role in national defense and the energy sector.