Pipeline approval will have positive impact: chambers
The BC Chamber of Commerce stated June 18 it is pleased to see the approval of the Trans Mountain pipeline —”a project that is projected to inject $46.7 billion into the Canadian economy, and will provide much needed revenue to fund many of the social, health, and education services that British Columbians rely on.”
The Cranbrook Chamber of Commerce agrees with that assessment.
“Our city and region have strong economic ties to the Albertan economy, and the success of the Albertan economy has a significant impact on our local economy. Alberta’s ability to bring its resources to global markets is critical to its future economic success,” said Cranbrook Chamber President Jason Fast. “We are optimistic that increasing Canada’s ability to bring resources to global markets will contribute not only to the future economic success of our neighbours in Alberta, but it will also have positive economic impacts for our city and region.”
“It’s a good day for Canada and BC,” added Val Litwin, President & CEO of the BC Chamber of Commerce. “British Columbia is projected to receive $5.7 billion in revenue from the project over the next 20 years—to the benefit of communities throughout BC, including First Nations and Indigenous communities. But ‘approved’ does not mean ‘built.’ We need to see a solid plan to complete the project, in order to realize these benefits and send the message to the world that BC is open for business.”
In the BC Chamber of Commerce 2018 Collective Perspectives survey—which saw responses from some 900 members of the BC business community— 57% supported the Trans Mountain pipeline (with 21% neutral, 22% opposed.) Further, 78% of respondents wanted the government to prioritize attracting foreign investment.
“We are cautiously optimistic—hearing that shovels will be in the ground this season is a good sign. Further delays in the project’s completion could mean potential investors will simply take their money elsewhere,” Litwin said. “Our standard of living, and our commitment to addressing Indigenous reconciliation and climate action depends on restoring investor confidence in Canada and having access to international markets.”
“While some may view TMX as simply a ‘pipeline project’, we see opportunities for families, jobs, infrastructure, and the ability to bring marginalized communities into the fold of economic stability and prosperity so many of enjoy. Now, Canadians are relying on their government to build a predictable regulatory framework, which is in the national interest.”
Lead image courtesy BC Chamber of Commerce