Calgary Chamber of Commerce calls for growth and investments to alleviate labour shortage in Alta.
by CM Staff
To ensure long-term competitiveness, the Chamber encourages the government to invest in Alberta’s existing and emerging industries.
CALGARY — The Calgary Chamber of Commerce calls for a renewed focus on business in Budget 2024, with a need to advance initiatives that alleviate the labour shortages and skills gaps, position Alberta as a leader in sustainable energy solutions, and ensure a diversified and resilient economy for all Albertans and Alberta businesses.
“Budgets are an important opportunity for governments to signal key priorities and advance strategic initiatives, which also include ensuring the needs of businesses are at the forefront of policy decisions,” says Deborah Yedlin, President and CEO of the Calgary Chamber of Commerce. “The coming year presents an excellent opportunity for Alberta as it seeks to grow and diversify its economy, while continuing to support the traditional sectors of the economy. We call on the provincial government to drive strategic initiatives and execute on bold visions in Budget 2024, focusing on addressing rising costs, economic diversification, talent development attraction and infrastructure investment.”
Recommendations
Rising costs and red tape
Rising inflation and interest rates continue to impact 61 per cent of businesses. As a result, businesses expect sales to slow in the near-term, and are limiting plans to hire more people or invest in the growth of their businesses.
Economic diversification and competitiveness
To ensure long-term competitiveness, the Chamber encourages the government to invest in Alberta’s existing and emerging industries. This includes the implementation of stackable investment tax credits (ITCs), including through the proposed Alberta Carbon Capture Incentive Program (ACCIP) and expanding the Alberta Petrochemicals Incentive Program (APIP) to invest in low-carbon energy initiatives.
Talent and labour
As of Q4 2023 data, 28 per cent of Calgary businesses identify labour-related obstacles as a substantial concern, underscoring the importance of addressing barriers to fostering an inclusive and equal-opportunity labour force. This includes ensuring newcomers can work in the fields of their expertise, ensuring employers have the resources to hire top-talent, and facilitating opportunities for upskilling and reskilling.
Infrastructure & Supply Chain Enhancement
The modernization of civic spaces is critical to attracting talent. The Chamber encourages financial support for projects such as Arts Commons, Olympic Plaza and Foothills Multiport Fieldhouse, as well as the expansion of transportation infrastructure in Calgary. As of late 2023 data, nearly 29 per cent of Calgary businesses continue to face challenges in procuring domestic inputs, products, or supplies for a year or longer, highlighting the need for investments in supply chain resiliency.
