Calgary, Alberta, March 22, 2023 – In light of President Biden’s visit to Canada, critical minerals, climate change, supply chains and immigration remain top of mind for businesses.  The Calgary Chamber calls on all levels of government to advance the competitive landscape in Alberta and Canada through business supports, innovation and investments to create a prosperous business community.

With the federal budget being released next week and a provincial election expected in May, Calgary’s business community is concerned that existing systems and supports prevent them from fully competing on a global scale. For example, several of Canada’s major industries rely on international trade to do business and require export-related infrastructure to maximize cross-border collaboration.

According to the Canadian Survey on Business Conditions, only 1.8 per cent of Calgary businesses plan to expand operations internationally, reinforcing the need to work with international partners to make it easier for businesses to scale beyond our borders. Further, with capital being so agile and mobile, both Alberta and Canada risk losing opportunities – and investors – to the United States on several fronts, namely when we compare to the U.S. Inflation Reduction Act.

“With the introduction of the U.S. Inflation Reduction Act, the competitive landscape has dramatically shifted, leaving Alberta and Canada at a critical juncture. We need all levels of government to work together to even the playing field and ensure capital and talent remain in Canada,” says Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce. "Our ability to develop technologies aimed at reducing emissions, as well as building projects that support the transformation of our energy systems hinges on accessing both talent and capital, as well as developing clear timelines for permitting and approvals in order to seize a generational economic opportunity."

The Chamber’s Provincial Election Platform calls on the next government to create a more competitive landscape for businesses; we also call on the federal government to promote competitiveness through interprovincial trade.

Our recommendations

Advance provincial and national competitiveness

• Ensure financial and non-financial incentives attract investment to the province and regulatory processes support our long-term competitiveness.
  > Implement legislation that is competitive with the U.S. Inflation Reduction Act (IRA)
  > Develop a comprehensive Alberta Industrial Strategy that guides investment and regulatory reform
  > Identify innovative ways to improve approval times for major projects
  > Incentivize projects that support low-carbon storage initiatives

Invest in a diversified economic future

• Collaborate amongst all levels of government to develop a national battery metals value chain that prioritizes midstream chemical processing in Alberta within a nationally integrated supply chain to guide investment to local critical mineral capacity.
  > Support a critical mineral value chain and advance biofuels and nuclear projects.
• Fund a benchmarking study to identify further regulatory reforms, investment incentives and other financial supports required to boost the competitiveness of Alberta’s – and Canada’s – critical minerals sector relative to other jurisdictions.
• Refine provincial and national immigration systems to expand program eligibility and develop solutions to issues surrounding foreign credential recognition, to grow Alberta’s – and Canada’s – workforce.

Improve market access

• Invest in supply chain and transportation infrastructure, including rail and domestic manufacturing capacity to mitigate pressure points and bottlenecks and ensure businesses receive low-cost access to the goods and services they need to operate, grow and expand.
• Work with industry to reduce barriers to accessing the carbon offset market, including expanding eligibility and formalizing an agriculture-specific validation processes to help guide producers.
• Leverage Alberta’s agricultural expertise in biofuels, invest in and promote the development of SAF in the province.

ABOUT THE CALGARY CHAMBER OF COMMERCE

The Calgary Chamber exists to help businesses thrive. As the convenor and catalyst for a vibrant, inclusive, and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification, and opportunity. As an independent, non-profit, non-partisan organization, we build on our 131-year history to serve and advocate for businesses of all sizes, in all sectors, and across the city.

Media opportunities

For media inquiries, please contact Shannon Hazlett, Senior Public Relations Advisor, at media@calgarychamber.com.