Long-term thinking and taking a more strategic and disciplined approach to managing resources and wealth are needed to sustain Alberta’s economic prosperity into the future, according to the Premier’s Council for Economic Strategy.
Five members of the Council presented their report to Airdrie and area business people, politicians and other leaders at Genesis Place, June 23.
Participants included representatives from the City of Airdrie, Strathmore, Crossfield, Cochrane, Redwood Meadows, the MD of Big Horn, Rocky View County and Chestermere.
“Just because we have the prosperity today doesn’t mean it will be here tomorrow,” said David Emerson, chair of the Council and former federal minister.
“The world is changing really quickly. This was a truly incredible experience, meeting with countless community and business leaders, young people and Albertans who were eager to participate.”
Shaping Alberta’s Future challenges Albertans to focus on the province’s long-term prosperity by realizing the full potential of Alberta’s energy resources and broadening its economic base.
The 12-member Premier’s Council for Economic Strategy includes past politicians, economists and scholars.
“The most important theme is covering our day-to-day expenses from regular income and investing the money received from the sales of non-renewable energy assets to create greater wealth in the future.”
The Council suggests a Shaping the Future Fund that would invest capital from resources in shaping the future with the intention of securing prosperity for Alberta’s future.
Local dignitaries who attended the luncheon were generally in favour of the report but some had concerns.
“I think it was a very good discussion but my concern is it is the Premier’s Council but the premier will no longer be in power at the end of the summer. I hope the new leader will embrace the document,” said Airdrie Mayor Peter Brown.
Mike De Bokx, chair of the Airdrie Chamber of Commerce – the host of the event – asked the Council what Airdrie can do as a community to ensure the success of Alberta into the future.
“You are creating a community that people love to live and work in,” said Emerson.
“You are improving Alberta. Just continue to build the most livable, entrepreneurial city you can.”
Council member Bob Brawn said residents should read the report and keep the discussion alive.
The report is organized under five themes.
• Realizing the full potential of energy resources - ensuring Albertans benefit from energy development as long as possible while addressing environmental impacts and entering new markets.
• Broadening the economic base - delivering new products and services into new markets, outside the U.S.
• Preparing to prosper in a global economy - ensuring Albertans are lifelong learners, healthy and globally informed.
• Providing a strong platform to sustain economic growth - wise management of water and land, and reliable transportation and communication systems to support global interaction.
• Investing in shaping the future - a strategic, disciplined approach to managing resource wealth.
From these themes, five key initiatives are outlined to secure Alberta’s future prosperity.
• Create a Global Centre for Energy to transform environmental and operational performance.
• Establish an Alberta Institute for Advanced Technology, to create new products, processes, services and companies.
• Accelerate action on ensuring Aboriginal young people achieve parity of education outcomes with non-Aboriginal people.
• Give a new Alberta Water Authority the mandate to innovate in water stewardship.
• Institute a Shaping the Future Fund to invest non-renewable energy assets in initiatives to support a prosperous Alberta.
“As a council, we felt it was very important to provide a call to action to all Albertans,” said Emerson.
“We hope this report inspires them to take an active role in shaping the province’s future.”
To view the full report, visit http://premier.alberta.ca
