Slow Oilfield Won’t Slow Progress in Cold Lake

The downturn in the oilfield is the optimal time for The City of Cold Lake to continue its plans for Phase III of the Energy Centre. Although Mayor Craig Copeland confirms there’s a definite downturn from 2013 & 2014 in the Cold Lake economy, he explains that conditions, such as construction cost, are optimal to move forward with additions to the Energy Centre.

Mayor Copeland explains Cold Lake’s economic situation as uncertain, “there’s a lot of uncertainty in the economy, with the new government, the new corporate tax increase, and a softening in the price of oil there’s a definite softening in the Cold Lake Market.”

Mayor Copeland explains The City is still moving forward with expansion plans for The Energy Centre, “construction costs are coming down, considerably. Now is the time to be building, while the economy is soft.”

Phase III of The Energy Centre includes the addition of a second ice rink, a new gymnastics space and dance studio, an outdoor artificial field for football, soccer and rugby. There is also a possibility of another field house being constructed.