Economic Development: Let’s talk about Downtown
Economic Development: Let’s talk about Downtown
Downtown is the heart of our City, an economic, artistic and cultural engine that’s going through a needed tune-up to continue to help drive Edmonton’s momentum in the right direction.
As we head into the next four-year budget, let’s have bigger conversations about downtown economic development, vibrancy, and how we can strategically reach our greater potential in creative ways and with limited financial resources.
What I have heard is that downtown revitalization and vibrancy looks different for many of us. For businesses, I hear that it is sustained customers frequenting their shops, stakeholders in Chinatown often highlight the need to address the underlying social disorder and de-concentrating social services, for others it’s the events and festivals that they are drawn to and easy ways to get there, and for others still it’s simply more people having the option to choose and live downtown.
The hard truth is there cannot be major investment in downtown and its revitalization without seeing construction, disruption and change along the way. If we are serious about the large quantity of investments we need, there will be cranes and detours. There are going to be periods where things feel less convenient than we want. The trade off comes in seeing the potential for the downtown built for the future. The good news is that investments are happening by the City, the Province, post-secondary institutions, and private industry because people believe in its potential. The Edmonton Metropolitan Region is Canada's fifth largest economy, generating $105 billion in GDP, and Edmonton’s real GDP growth (2026–2028) is projected to outpace national averages.
Ultimately true revitalization takes people. It takes creating a downtown that people want to live and spend time in, but this does not mean forcing workers back to downtown offices. Yes, I know this may be a hot-take but we cannot build an Edmonton of the future by depending solely on the 9-5 commuters of the past. If we do, we risk being one crisis away from losing any of the long-fought gains we would make. Creating more housing and specifically student housing close to campuses like MacEwan can bring more people downtown that aren’t just commuting for work.
In addition, the success of downtown is directly connected to the neighborhoods surrounding it. Chinatown and the Quarters are a part of that ecosystem, and it deserves proportional attention and investment too. Recent videos circulating highlight the need for better systems of support and resources when people are released from correctional facilities highlight exactly this.
Edmonton’s current economic strategy relies on downtown. The Northwest industrial areas, as an example, have so much potential to attract significant business, create more local jobs and demonstrating that businesses can succeed here too. These areas are needed to take pressure off the tax base and ensure a more fiscally sustainable city. But the truth is, global businesses are looking to invest in world-class cities, and this is not created without a strong downtown. A thriving core fuels our workforce, while industrial hubs can generate the revenue that can keep our city sustainable long-term. This collaboration can drive us forward.
Let’s continue to invest in downtown, be creative with solutions to vibrancy and focus on more people living in the heart of our city. Together we can build a city where businesses want to invest, students want to stay, and every resident can reap the benefits of a balanced tax base. And yes, that does mean we need to get through some growing pains along the way, but I’m hopeful about what we are building and the future of Edmonton and our downtown.
Erin.
