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Edmonton will not fly its flag at the airport but an annexation agreement announced Friday does include a commitment to invest in that economic hub.

The Edmonton International Airport will remain part of Leduc County. But planning around its growth will be done by consensus with four parties and their wallets in the room — Edmonton, Leduc County, the City of Leduc and the airport.

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“This is not just about Edmonton, about flying our flag over the airport,” said Edmonton Mayor Don Iveson, who said everyone in the region wins if this deal brings more investment to the table. It could even mean LRT or regional rail reaches the airport faster if this drives growth.

Leduc County and Edmonton also finalized their annexation agreement Friday morning, with Edmonton agreeing to compensate the county $8.5 million over 10 years for lost taxes.

The deal also includes 50-year tax protection for residents, allowing farmers to continue to grow crops without being forced out by city taxes. Details around garbage collection, pest management and weed control were also negotiated through one-on-one meetings and public open houses with the landowners.