Business, City of Edmonton, Municipal

November 28, 2025  

Dear Mayor Knack: 

Edmonton’s business community remains concerned about the City’s financial trajectory and the impacts of rising municipal costs on businesses, workers, and residents. As Council prepares for the 2025 Fall Budget Adjustment and the final Spring 2026 Adjustment, we urge you, as the City’s newly elected Mayor to take decisive action now to restore long-term fiscal prioritization and investment to protect affordability for the people and employers who drive Edmonton’s economy. 

The City’s finances are increasingly strained. The pattern of significant year-over-year tax hikes alongside rising debt is proving difficult for businesses and households to absorb. The numbers tell this story: 

• The operating budget has grown by roughly $500 million over four years. 
• Taxpayers now pay more than $1 million every day in debt servicing costs. 
• Property taxes have increased by 26% since 2021.  
• Edmonton continues to face a structural operating gap of about $38 million. 
• Civic staffing has increased by 475 full-time positions since 2023. 
• Nearly 30% of the $9.22 billion capital plan is funded through new debt. 

We recognize that Council has been working to manage real cost pressures and service demands in a fast-growing city. While a 6.4% tax increase may ultimately be required, it does not address the City’s long-term fiscal position and could potentially deter investment. The business community is asking for a clear, comprehensive plan to invest in Edmonton’s economic future, so we are less reliant on property taxes. Today’s tax contributions must build tomorrow’s city, instead of financing tomorrow’s problems. 

We call on you to establish a Mayor’s Fiscal Task Force in 2026, composed of respected business, community, and government leaders to provide rapid, evidence-based and actionable recommendations to Council by mid-2026. The Task Force should consolidate and leverage existing City financial reports and datasets, evaluate and prioritize programs to distinguish core from non-core responsibilities, and engage Edmontonians, businesses, and partners to ensure trade-offs are transparent and political accountability is shared. 

Edmonton’s business organizations remain committed to working collaboratively with City Council to strengthen the City’s financial position and support a thriving economy. The Edmonton Chamber of Commerce wants to see generational investments in Edmonton that will improve competitiveness, attract new capital, and enable local businesses to grow profits. This will translate into new jobs, wages, and long-term opportunities for the people of Edmonton. 

We stand ready to assist and to work alongside you. 

 Sincerely, 

Doug Griffiths 

President and Chief Executive Officer 

Edmonton Chamber of Commerce