Half of Calgary Businesses Would Leave if Alberta Votes to Separate
A Calgary Chamber of Commerce poll shows 48% of surveyed members would consider moving their operations out of the province if Albertans vote to separate in October.
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Calgary's business community is signalling serious concern about Alberta separation.
A poll commissioned by the Calgary Chamber of Commerce and conducted by Probe Research found nearly half of surveyed members would consider moving their businesses out of the province if Albertans vote this October to begin a formal separation process. The online survey of 137 Chamber members, conducted between June 8 and June 22, also found nearly two-thirds of respondents say separation talk is already harming their operations, and 74 per cent see no tangible benefit to leaving Canada.
"Our business community is sending a clear message, separation has moved beyond a theoretical debate to having tangible effects on business confidence and decision-making," Calgary Chamber President and CEO Deborah Yedlin said. "This discussion is not only about the movement of capital to other jurisdictions viewed as more predictable and stable, but also about how the movement of businesses, jobs and labour would permanently damage our economy."
The Chamber released an economic analysis by University of Calgary economist Trevor Tombe, who used the UK's exit from the European Union as a comparison point. His modelling estimates one in three Alberta workers is exposed to trade disruptions with other provinces and international markets. If an eight per cent increase in trade costs occurred—similar to Brexit effects—Tombe estimates Alberta could face a six per cent drop in GDP per capita, a loss of 175,000 jobs, a $62 billion annual economic contraction, and $10 to $15 billion in lost investment.