Business leaders in Alberta are expressing relief following a decisive vote in favor of the province remaining part of Canada. They believe the referendum outcome will provide a sense of stability for investors, ultimately benefiting the national economy.

Deborah Yedlin, the President and CEO of the Calgary Chamber of Commerce, described the vote as a significant relief. She emphasized that the decision to stay in Canada establishes certainty, attracting investment that will not only benefit Alberta but also contribute to the country’s economic growth.

Albertans participated in a referendum with ten questions, including one on whether the province should remain in Canada or pursue a binding referendum for separation. While ballot counting is ongoing, initial results from 1.8 million votes show that 75.5% are in favor of Alberta staying in Canada.

Despite economic challenges within the province, such as the impact of the 2014 oil price crash, which led to some advocating for separation to gain more control over resources, many business leaders supported remaining part of Canada. The Canadian Chamber of Commerce and Alberta Chamber of Commerce warned that a vote for separation could introduce another cycle of uncertainty for businesses and investors.

A poll conducted by the Calgary Chamber of Commerce revealed that nearly half of respondents were willing to relocate their businesses if Alberta pursued separation, with 60% expressing that separatism was already negatively affecting their businesses.

As the global economic landscape faces uncertainty and trade tensions between the U.S. and Canada worsen, business leaders welcomed the referendum’s resolution. Avik Dey, CEO of Capital Power, acknowledged that the separatist sentiment had created some level of uncertainty for investors but expressed relief now that the vote has concluded.

Looking ahead, Charles St-Arnaud, chief economist at Servus Credit Union, believes that while the immediate uncertainty has lifted, separatists may continue advocating for independence. He highlighted that the persistent separatist conversation could impact business decisions and government policies.

Canadian Chamber of Commerce President and CEO Candace Laing emphasized the importance of addressing separatists’ concerns to build a strong and united Canadian economy. With the majority of Albertans opting to remain in Canada, Laing expressed optimism that the result would instill confidence in businesses, workers, and communities, fostering a sense of unity and progress.