Lethbridge Mayor Chris Spearman delivers state of the city address

The book is officially closed on 2016, and on Tuesday, Lethbridge Mayor Chris Spearman met with residents at the Coast Hotel for his annual state of the city address. The mayor reflected on a successful year for the city that saw no business bankruptcies, and some of the lowest unemployment numbers in the province.

“We do have a steady economy,” Spearman said. “It’s better to have that than a roller-coaster economy. It allows for better planning and certainly creates, I think, a high level of business confidence in the city.”

Lethbridge is a growing city; the 2016 census revealed Lethbridge’s population is now up to 97,000. In his address Tuesday, Spearman said city projections have Lethbridge’s population rising to 115, 000 in 10 years.

Lethbridge also saw $1 billion in investments in 2016, to a number of projects.

• U of L Destination Project – $250 million
• ATB Centre Phase 2 – $150 million
• Richardson Grain – $120 million
• Lethbridge College Trades & Technologies facility $65 million
• Pepsi – $35 million
• Cavendish Farms (plant and infrastructure) $390 million

Discretionary capital funds, which are designated funds not used to maintain infrastructure, are limited in 2017. That means Lethbridge won’t see much progress on any major projects.

“We have right now about $5 million in Capital funds available which is relatively small,” Spearman said. “In terms of funding a third bridge for $150 million, or a performing arts centre for $75 million, or a convention centre for $90 million, we don’t have the funds to do that.”

The provincial carbon tax will affect many centres across the province, but according to Spearman, Lethbridge likely won’t be hit as hard.

“The markets have been lower than what we expected,” Spearman said. “So the $460,000 in carbon tax this year, and the $700,000 in carbon tax next year will be absorbed in the city budget. There will be no impact in taxation.”

Tweet This Click to share quote on Twitter: "The markets have been lower than what we expected," Spearman said. "So the $460,000 in carbon tax this year, and the $700,000 in carbon tax next year will be absorbed in the city budget. There will be no impact in taxation."

With steady economic growth, building permits on the rise, and an increasing GDP, Lethbridge is withstanding tough provincial economic times.