Investments to enhance Canada's strategic position while unlocking economic opportunities to support workforce development and Indigenous-led resource development

COLD LAKE, AB, Aug. 26, 2026 /CNW/ -- Cold Lake has long played an important role in Canada's security and prosperity. In the 1950s, the region became home to the first new Royal Canadian Air Force flying station built in Canada since the conclusion of the Second World War. In the decades that followed, Cold Lake also became a centre for innovation in Canada's energy sector, helping advance the in situ technologies used to develop Alberta's deep oil sands resources.

Today, Cold Lake remains an important centre for both Canada's energy sector and national defence. As Canada navigates a more uncertain world, the region once again will play a critical role in advancing the Government of Canada's efforts to build strength at home. Building on Cold Lake's unique capabilities will help position the region to meet this moment, while ensuring local communities share in the benefits of future growth and investment.

Today, Matt Jeneroux, Member of Parliament for Edmonton Riverbend, on behalf of the Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan), announced $6.6 million in federal funding to advance Indigenous-led energy development and strengthen aviation training in the Cold Lake region.

A $6 million repayable investment will support Etthen Energy Corporation, a company wholly owned by Cold Lake First Nations, as it expands the development of heavy oil resources beneath reserve lands. The project will support well site and facility construction, along with the engineering and completion work needed to advance production.

By supporting Etthen Energy Corporation's expansion project, this investment will create economic opportunities for Cold Lake First Nation, strengthen Indigenous ownership and participation in the energy sector, and generate long-term revenues that can be reinvested in the community. In doing so, it will also contribute to the federal government's broader efforts to secure Canada's prosperity by helping build a more independent, competitive, and resilient economy.

A further $600,000 investment in the City of Cold Lake will support renovations and upgrades to an aircraft hangar at the Cold Lake Regional Airport, establishing a training facility for an Aircraft Maintenance Engineering – Structures program. The new training space and equipment will help prepare workers for careers in aviation maintenance and respond to growing demand for skilled workers in the region's aerospace and defence sectors. This investment also supports the Government of Canada's efforts to rebuild, rearm, and reinvest in the Canadian Armed Forces by while building the skilled workforce and domestic industrial capacity needed to support our women and men in uniform.

Together, these investments will help Cold Lake build on the strengths that have made the region important to Canada for generations, while creating good jobs, expanding local opportunity and helping build a stronger and more secure country.

Quotes

"The Cold Lake region has played an important role in Canada's story for generations, from powering our economy to supporting our national defence. As our government responds to the realities of a rapidly changing world, there is an opportunity to build on the region's strengths to create a stronger, more secure country, while creating good jobs and delivering lasting benefits for the people who call this region home. These investments will help ensure that Cold Lake and Cold Lake First Nations benefit from the opportunities ahead."
–The Honourable Eleanor Olszewski, Minister of Emergency Management and Community Resilience and Minister responsible for Prairies Economic Development Canada (PrairiesCan)

"The City of Cold Lake and Cold Lake First Nations are well positioned to help meet some of Canada's most pressing economic and sovereignty needs. Our government is supporting them to realize that potential through infrastructure, skill development opportunities, and strategic investments. The federal funding announced today will advance Indigenous participation in resource development, provide spaces that strengthen specialized aviation training capacity, and help build a highly skilled workforce that can drive prosperity across Northeastern Alberta for years to come."
–Matt Jeneroux, Member of Parliament for Edmonton Riverbend

"This investment represents an important step forward for Cold Lake First Nations and for the continued growth of Etthen Energy. For too long, our Nation has participated in resource development largely from the sidelines; Etthen is changing that by placing CLFN in a leading role and giving our Nation greater control over how its resources are developed. Access to capital is critical to advancing that vision and creating long-term economic benefits for our community. We thank PrairiesCan for supporting this important community economic development initiative."
–Chief Kelsey Jacko, Cold Lake First Nations

"This investment from PrairiesCan is a strong vote of confidence in Cold Lake and in the important role our community will play in the future of Canada's aviation and aerospace industry. As the proud home of 4 Wing Cold Lake, aviation is an integral part of our community's history.  This project builds on that foundation, and through strong partnerships, will help develop the skilled workforce our region and Canada's aviation industry need to thrive well into the future."
–Bob Mattice, Mayor, City of Cold Lake

Quick facts

• Repayable and non-repayable funding of $6.6 million for these projects is provided through the Community Economic Development and Diversification (CEDD) program.
• These investments are expected to support 90 new jobs, train 30 highly qualified individuals, and support 3 Small and Medium-sized Enterprises.

Associated links

• Prairies Economic Development Canada (PrairiesCan)
• Community Economic Development and Diversification (CEDD)

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SOURCE Prairies Economic Development Canada