Lacombe, Alberta (May 3, 2023) – The City of Lacombe has received the 2023 Economic Developers Alberta (EDA) Community Award of Excellence in the category of Economic Development Renewal for Small Community/Region.
The City was recognized for its partnership with Vesta Energy Ltd. to repurpose the City’s decommissioned former lagoon cells.
The Economic Development Renewal Award recognizes communities that take underutilized municipal assets and implement innovative strategies to re-establish them as pillars of economic strength for the community.
“Our partnership with Vesta Energy to repurpose our former lagoon site has provided immense benefits to our residents,” Mayor Grant Creasey said. “What was once a liability requiring eventual remediation by the municipality is now an asset which allows Council to reinvest significant dollars back into the community.
“Council would like to thank Economic Developers Alberta for recognizing how valuable this partnership has become to Lacombe,” Mayor Grant Creasey said. “This award shows economic development is best done as a collaborative and creative endeavor.”
The project uses five of the City's former lagoon cells. Vesta Energy uses the decommissioned and currently underutilized City lagoon cells to store water for its operations throughout the region.
City of Lacombe residents financially benefit from the deal, with Vesta contributing a minimum $100,000 annual payment starting in 2023 for using the lagoon cells. Vesta’s long-term investment in the local economy also benefits the local economy by providing ongoing jobs for the City and region.
“ Congratulations to the City of Lacombe on receiving the EDA Community Award of Excellence. Vesta is proud to support the City in this project and deliver economic benefits to the local community from the use of inactive infrastructure. This project is a great model for municipalities collaboratively working with local industry partners.” said Mark Lansing, Vesta’s VP HSE & Sustainability.
The City and Vesta have also collaborated on the development and expansion of the Vesta Energy Fish and Fetch Park, which sits adjacent to the former lagoons. Vesta's contribution allowed for several amenities to the dog park, which may have otherwise gone unfunded.
About Vesta Energy Ltd.
Vesta Energy Ltd. is an oil and gas company operating solely within the greater Red Deer area. Vesta’s concentrated land position, owned and operated infrastructure, and proximity to key service markets allows it to be one of the lowest-cost producers in the industry. For more information, visit www.vestaenergy.com.
For additional information, contact:
Todd Vaughan
Communications and Community Engagement Coordinator
(403)782-1236 office
(403)877-4394 cell
tvaughan@lacombe.ca