A new proposed strategy aims to build a”dynamic and thriving” nighttime economy in Edmonton and some stakeholders believe it could transform the city’s art and tourism sectors, and its overall nightlife.
Authored by city staff, Explore Edmonton and U.K.-based Night Time Economy Solutions, Edmonton’s Nighttime Economy Strategy seeks to play a pivotal role in helping businesses flourish after the sun goes down.
The report, published Thursday, examines trends in the economy and tourism that would help Edmonton create a “dynamic and thriving nighttime economy” that prioritizes unity, connectivity, protection, progressiveness and uniqueness.
Two of the report’s main priorities are improving transportation and safety.
According to the report, many stakeholders, particularly female participants, shared feeling uncomfortable taking transit or the LRT, as they were highlighted as “hotspot areas” for drug use, gravitating toward driving or ride-share services like Uber should they want to go out.
Those surveyed said they have noticed an increase in crime and disorder as the night progresses and wanted to see a more active and visible presence of police and peace officers.
Puneeta McBryan, executive director of the Downtown Business Association, told CBC News the strategy doesn’t contain a lot of new information, especially when it comes to the importance of safety.
Puneeta McBryan, executive director of the Edmonton Downtown Business Association, said she’s curious to see what city council does with the information in the report. (Craig Ryan/CBC)
She said business owners have called for measures to improve safety for a long time.
“People need to feel safe if we want them to go places,” McBryan said.
“It’s really affirming that this thing we’ve been saying for a long time has been validated … There’s a lot in here that’s validating for us, but not a lot that’s new.”
McBryan said she’s curious to see what Edmonton city council does with the information in the report, which includes what she calls some “really helpful data” to quantify the importance of a nighttime economy plan.
When it comes to safety, she said the landscape has changed significantly in downtown areas.
“Our downtown beat officers are there during the day, but what that presence looks like at night has really changed since COVID,” she said.
“I’d be really curious to find out, even compared to 2018, how many officers we have out on a typical Friday or Saturday night.”
Tyson Boyd, co-owner of the Starlite Room, said improving safety is going to be a major factor in helping to grow foot traffic within Edmonton’s downtown. (Julien Latraverse/Radio-Canada)
Tyson Boyd, co-owner of the Starlite Room, said businesses are itching to rebuild and strengthen the downtown core, and improving safety is going to be a major factor in helping to grow foot traffic.
Some of his own staff have told him they feel nervous taking transit because of their safety concerns. It’s a hot topic for customers too, he said.
“When you have larger events and people are coming down, it’s a power in numbers type thing,” Boyd said.
“When people are all coming down at a specific time, you have the comfort of being with a number of people riding the train, versus when it’s a little bit more of a slower time and there are fewer people.”
Boyd said more measures in place, such as better-lit streets and beat officers, would make people comfortable and create a generally safe environment downtown.
Rob Browatzke, co-owner of Evolution Wonderlounge, said the strategy looks great at first glance, but its success will depend on how the city implements it. (Travis McEwan/CBC)
Rob Browatzke, co-owner of Evolution Wonderlounge, said the strategy looks great at first glance, but its success will depend on how the city implements it. Much of the plan focuses on transportation and crime, two major issues impacting nightlife, he said.
“Downtown is a lot less safe than it was four years ago,” Browatzke said.
“People are really quick to scapegoat that onto Edmonton’s unhoused population. I get that, but that’s not where we’re seeing most of the safety issues. I think people forgot how to be people during COVID.”
Improving transportation options and safety would change things for the better, especially since Browatzke’s venue closes at 2:30 a.m. But doesn’t feel like a nightlife-focused committee should be tasked with fixing Edmonton’s bigger issues.
Instead, he’ll be curious to see if city staff can come up with promotional vehicles that businesses can use to spread the word about upcoming events.
“It’s all going to come down to who’s on this committee and how much power the committee actually has, and what this committee can actually do,” Browatzke said.
The proposed strategy is slated for discussion at council’s Executive Committee on April 10.
TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
OTTAWA – Canada’s inflation rate fell to two per cent last month, finally hitting the Bank of Canada’s target after a tumultuous battle with skyrocketing price growth.
The annual inflation rate fell from 2.5 per cent in July to reach the lowest level since February 2021.
Statistics Canada’s consumer price index report on Tuesday attributed the slowdown in part to lower gasoline prices.
Clothing and footwear prices also decreased on a month-over-month basis, marking the first decline in the month of August since 1971 as retailers offered larger discounts to entice shoppers amid slowing demand.
The Bank of Canada’s preferred core measures of inflation, which strip out volatility in prices, also edged down in August.
The marked slowdown in price growth last month was steeper than the 2.1 per cent annual increase forecasters were expecting ahead of Tuesday’s release and will likely spark speculation of a larger interest rate cut next month from the Bank of Canada.
“Inflation remains unthreatening and the Bank of Canada should now focus on trying to stimulate the economy and halting the upward climb in the unemployment rate,” wrote CIBC senior economist Andrew Grantham.
Benjamin Reitzes, managing director of Canadian rates and macro strategist at BMO, said Tuesday’s figures “tilt the scales” slightly in favour of more aggressive cuts, though he noted the Bank of Canada will have one more inflation reading before its October rate announcement.
“If we get another big downside surprise, calls for a 50 basis-point cut will only grow louder,” wrote Reitzes in a client note.
The central bank began rapidly hiking interest rates in March 2022 in response to runaway inflation, which peaked at a whopping 8.1 per cent that summer.
The central bank increased its key lending rate to five per cent and held it at that level until June 2024, when it delivered its first rate cut in four years.
A combination of recovered global supply chains and high interest rates have helped cool price growth in Canada and around the world.
Bank of Canada governor Tiff Macklem recently signalled that the central bank is ready to increase the size of its interest rate cuts, if inflation or the economy slow by more than expected.
Its key lending rate currently stands at 4.25 per cent.
CIBC is forecasting the central bank will cut its key rate by two percentage points between now and the middle of next year.
The U.S. Federal Reserve is also expected on Wednesday to deliver its first interest rate cut in four years.
This report by The Canadian Press was first published Sept. 17, 2024.
FREDERICTON – New Brunswick‘s finance minister says the province recorded a surplus of $500.8 million for the fiscal year that ended in March.
Ernie Steeves says the amount — more than 10 times higher than the province’s original $40.3-million budget projection for the 2023-24 fiscal year — was largely the result of a strong economy and population growth.
The report of a big surplus comes as the province prepares for an election campaign, which will officially start on Thursday and end with a vote on Oct. 21.
Steeves says growth of the surplus was fed by revenue from the Harmonized Sales Tax and federal money, especially for health-care funding.
Progressive Conservative Premier Blaine Higgs has promised to reduce the HST by two percentage points to 13 per cent if the party is elected to govern next month.
Meanwhile, the province’s net debt, according to the audited consolidated financial statements, has dropped from $12.3 billion in 2022-23 to $11.8 billion in the most recent fiscal year.
Liberal critic René Legacy says having a stronger balance sheet does not eliminate issues in health care, housing and education.
This report by The Canadian Press was first published Sept. 16, 2024.
