Business leaders in Alberta are expressing relief after a strong vote in favor of the province remaining part of Canada. They believe that the outcome of the provincial referendum will provide more stability for investors and contribute to the overall economic growth of the country.
Deborah Yedlin, the president and CEO of the Calgary Chamber of Commerce, described the result as a significant relief. She emphasized that the decision to stay in Canada establishes certainty, enabling the attraction of investment that will benefit not only Alberta but the entire nation.
The referendum in Alberta involved 10 questions, including whether the province should remain in Canada or proceed with a binding referendum on separation. While the ballot counting is ongoing, initial results show that the remain side is leading with 75.5%, indicating that Albertans have chosen to stay within Canada.
Despite economic challenges within the province, such as the impact of the 2014 oil price crash, which led some to consider separation, many business leaders supported remaining in Canada before the referendum. Organizations like the Canadian Chamber of Commerce and Alberta Chamber of Commerce cautioned that a vote for separation could create additional uncertainty for business owners and deter potential investors.
A poll conducted by the Calgary Chamber revealed that nearly half of respondents were willing to relocate their businesses outside of the province if Alberta pursued separation. The survey also showed that 60% of respondents believed that separatism was negatively affecting their businesses.
The referendum occurred amid global uncertainties and strained trade relations between the U.S. and Canada. Avik Dey, CEO of Capital Power, admitted that the separation question had caused anxiety among investors outside the province. However, he expressed relief that the uncertainty had dissipated following the referendum results.
With the majority choosing to remain part of Canada, Candace Laing, president and CEO of the Canadian Chamber of Commerce, emphasized the importance of uniting to build a strong economy together. She recognized the concerns of separatists and stressed the need to ensure that all regions of the country feel valued in the collaborative effort to strengthen the Canadian economy.