Over the past year, the national inflation rate has increased over 4%. Global steel prices continue to strengthen due to supply constraints and soaring demand. Metal building manufacturers have been plagued with labour and material shortages, supply chain disruptions, and rapidly increasing raw material costs. Surprisingly, steep construction prices have not thwarted record setting demand. Metal building manufacturers are experiencing extended delivery schedules, with many fabrication plants scheduled out to the end of 2022. Full production capacities have led to manufacturers being selective on what projects fill their plants, adding more fuel to pre-engineered building (PEB) prices. It could be well into 2023 before manufacturers can adjust plant capacities, labour shortages and chew through their backlog before we see any relief. Unfortunately, the staggering cost of PEBs is closing the gap on alternate building solutions like pre-cast and conventional structures.

It is hard to believe that that we have been living with COVID-19 for a year and a half. We have endured three waves of the disease thus far and have yet to reach the peak of the worst fourth wave. Although we have a ticket to freedom from lockdowns; ironically, many eligible Albertan’s are still reluctant to accept the vaccine. As our hospitals fill to the brim and more ICU beds are added, the cracks in our health care system are evident. Our government had no alternative but to act. Like it or not, we must protect our health care system and our economy – they are intertwined. Navigating the more aggressive variant has proven to be economically disruptive and socially and politically divisive. Provinces that have managed to better control the infections will be rewarded with a healthier workforce, a more productive economy, and will be better positioned to attract labour, investment and tourism.