A new report by The Conference Board of Canada—Moving Forward: The Economic Impact of Rebuilding Wood Buffalo’s Economy—examines the Regional Municipality of Wood Buffalo’s economy, estimates the impact of the May 2016 wildfires, and presents a five-year demographic and economic forecast of the region.
The wildfires had an immediate and significant negative impact on Wood Buffalo’s economy, as activity ground to a virtual halt within the region and at nearby oil sands facilities. However, the resumption of oil sands production and rebuilding efforts are now producing a positive economic impact that will extend beyond 2017.
How much economic output was lost in 2016 and how much will be regained going forward? What kind of population growth can Wood Buffalo expect over the next five years? What is the outlook for the oil and gas industry and the oil sands? This report sheds light on these key questions.