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Striking Balance

Striking Balance by Ryan Crosschild

The Alberta economy has long been ruled by the oil and gas sector, but those industries that are not centered on oil and gas are struggling. The focus on one sector has placed many challenges for other industries. Political concentration and big-spending on workers has made it difficult for other industries to act as alternative sources for jobs. People are leaving in the pursuit for better paying jobs. Many obstacles arise from this; companies are now being forced to distinguish themselves in terms of benefits with points of difference. The oil and gas sector offers well paying jobs because that’s where the money is at, but other industries now need to stay competitive. Government has a role to play in this situation. A reduction in taxes and priority for local companies needs to take precedence in order to ensure a competitive, diverse, and healthy economy. It’s essential to ensure a diverse economy, and this is where government coincides with business. The fuel for a strong economy comes from the innovation from businesses but government needs to act as a guide by making sure other industries are represented.

http://business.financialpost.com/2012/10/05/albertas-have-nots-struggle-to-grow-in-oil-sectors-shadow/

Story written by Ryan Crosschild

 

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