Carney launches new office to fast-track project approvals, attract investors

Mark Carney opened a new Major Projects Office in Calgary and put former Trans Mountain chief Dawn Farrell in charge, betting that a leaner approval system can make Canada look faster, clearer and more investable at the same time. The office will also have branches in other major Canadian cities, but its mandate is built around a single point of contact for nation-building projects, a sign that Ottawa wants to shift more decision-making out of the traditional federal maze.

The pitch rests on speed. The office is designed to streamline and accelerate regulatory approvals, coordinate financing when needed, and cut the approval timeline for projects of national interest to a maximum of two years. Ottawa also says it will work with provinces and territories on a “one project, one review” approach for environmental assessments, while extending support to major projects across government, not just those designated under the Building Canada Act.

Carney framed the office around ports, railways, energy corridors, critical mineral developments and clean energy initiatives, the kinds of projects that can widen Canada’s economic base beyond its traditional dependence on the United States. The government says those projects are meant to connect the economy, diversify industries and trade, access new markets and create high-paying careers, while still preserving environmental standards and Indigenous rights. To make that happen, the office will help structure capital from private-sector backers, provinces and territories, and federal vehicles including the Canada Infrastructure Bank, the Canada Growth Fund and the Indigenous Loan Guarantee Program.

The policy gamble is bigger than one office. By placing the operation in Calgary and choosing Farrell, whose background spans Trans Mountain, TransAlta and BC Hydro, Carney signaled that this is meant to look like an execution unit, not another Ottawa slogan. The real economic question is whether Canada can turn economic nationalism into a credible investor pitch, with real alternatives in infrastructure, energy and manufacturing, or whether the new machinery simply repackages the familiar promise to diversify away from U.S.-centric growth without removing the bottlenecks that have slowed projects for years.