Calgary Chamber urges commitment to natural resource development AND innovation for Alberta’s long-term economic recovery and resiliency
Protecting the health of Albertans and stabilizing the economy must remain top priority in the short-term
CALGARY – “The joint economic impact of the COVID-19 pandemic and the plummet in oil prices, which has been an ongoing issue for Alberta, will be acutely felt in the province for months and perhaps years to come, if we don’t act to diversify our government revenue mix.
“Today’s decision to invest $7 billion into the Keystone XL pipeline is a clear and welcome signal that the provincial government remains committed to the future success of Alberta’s energy industry. And we support this decision.
“While the COVID-19 crisis is unprecedented in its size and scope, Alberta’s economic vulnerability to fluctuations in global commodity prices has been a historic challenge.
“We will need nothing short of re-invention if we are to emerge from these dual crises on our front foot, and ready to lead in a globalized, connected world.
“We urge the provincial government to embrace Alberta’s innovation opportunity as part of a long-term strategy of economic recovery and resiliency. Actions that would demonstrate this can include:
Providing stimulus that promotes innovation by allowing businesses to scale up, bringing in revenue and gaining market share;
Contributing to a vibrant technology ecosystem by supporting companies at all stages, from start-up, to mid-market, to large enterprise; and
Taking a strong and uniting role as a change leader within Alberta and within Canada to enable businesses to take informed risks to grow our economy.
“All levels of government must ensure they are doing everything possible to stabilize the economy and protect the health of Canadians. To this end, the Chamber has prepared several recommendations for the short, medium, and long-term.
“In order to build a vibrant, innovative future we must first ensure that businesses of all sizes have the support they need to navigate this uncertain time. United, we will emerge from this together and ready to embark on recovery.”
The Calgary Chamber is an independent non-profit, non-partisan business organization. For 129 years, the Chamber has worked to build a business community that nourishes, powers, and inspires the world.