Alberta Economy Energized by Competitiveness Review: CME

"The Competitiveness Review will define the way forward not just for Alberta, but the entire country," explained Jayson Myers, President & CEO of Canadian Manufacturers & Exporters. "The commitment to adjust royalty rates, promote more innovation; the use of new technologies, reduce unnecessary red tape and improve co-ordination of regulatory processes is the exact type of economic strategy needed to ensure we strengthen our economy as we emerge from this fragile recovery."

The greatest economic downturn in more than 70 years has created a new normal in which Canadian companies from all sectors must now conduct business.

"The Alberta Government has recognized that business as usual is not an option and is making the necessary adjustments to allow Alberta's economy to flourish moving forward. This is essentially welding together important pieces to the competitiveness puzzle."

While this new policy direction will directly impact the energy sector, there will be many spinoffs for other sectors, specifically manufacturing and manufacturing services, not just in the province, but across the country.

"Manufacturers across Canada will benefit from this announcement," said Myers. "When the Alberta energy sector is firing on all cylinders, it requires products and services from all parts of Canada."

The Competitiveness Review looked at the manner in which Alberta's competitive position and share of energy investment have shifted. It also considered how Alberta could improve its ability to attract conventional oil and natural gas investment in the wake of market changes and marketplace realities.

Canadian Manufacturers & Exporters (CME) is Canada's leading trade and industry association and the voice of manufacturing and global business in Canada. The association directly represents more than 10,000 leading companies nationwide. More than 85% of CME's members are small and medium-sized enterprises. As Canada's leading business network, CME, through various initiatives including the establishment of the Canadian Manufacturing Coalition, touches more than 100,000 companies from coast to coast engaged in manufacturing, global business and service-related industries. CME's membership network accounts for an estimated 82% of total manufacturing production and 90% of Canada's exports.

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