The president of the Lloydminster Construction Association is seeing less commercial and residential building projects in the Border City. President John Winter says the economic conditions are making people and business more selective with their spending.
“120,000 oilfield workers in Alberta have been laid off, I mean that affects everybody,” says Winter. “A lot of people are just keeping their cards close to them, and waiting to see how this all plays out. I mean a house is one of the biggest purchases you ever make.”
Winter adds that the colder weather is a factor in construction projects. Many choosing to build do so in the warmer months to avoid the costs that come with winter construction, like heating. He’s hopeful that the market for construction projects will improve, especially for commercial construction projects.
“Lloyd is preparing themselves. We have lots available, and different industries are diversifying to try and make Lloyd an attractive place,” adds Winter. When it comes to home building, he says there’s a lot of economic problems still holding people back.
“People’s priorities are shifting. Putting food on the table is more of a priority than that new house or that new car.”
Winter tells us that there’s still an inventory of buildings in Lloydminster and that encouraging new projects might need a reduction in red tape.