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Fort McMurray is a large hamlet in Alberta within the Regional Municipality (R.M.) of Wood Buffalo that is recognized as an urban service area. Fort McMurray, previously incorporated as a city on September 1, 1980, became an urban service area when it amalgamated with Improvement District No. 143 on April 1, 1995 to create the Municipality of Wood Buffalo (which was later renamed to the R.M. of Wood Buffalo on August 14, 1996). Despite its current official designation of urban service area, many locals, politicians and the media still refer to Fort McMurray as a city.
Fort McMurray is considered the heart of one of Alberta's (and Canada's) major hubs of oil production, located near the Athabasca Oil Sands. Besides the oil sands, the economy also relies on natural gas and oil pipelines, forestry and tourism. The two largest oil sand mining companies are Syncrude and Suncor Energy.
Fort McMurray's growth is characteristic of a boomtown. " Housing prices and rents are far higher in Fort McMurray than one would expect in such a remote area. In 2006, Fort McMurray had the highest prices in Alberta. The Albertan government has promised to release more Crown land for residential construction, particularly in Timberlea on the north side. From Wikipedia, the free encyclopedia.