'Small thinking' not serving Alberta's needs: EEDC boss

More than 1,000 business and community leaders listened to some harsh words in Edmonton Tuesday, including the claim that Alberta's future prosperity is in danger of being derailed by "small thinking."

Brad Ferguson, president and CEO of Edmonton Economic Development Corp., called for a"globally competitive mindset"in his keynote speech atatEEDC'sannual Impact Luncheon.

"We have a provincial mindset, which has us focused on short-term issues, subsidies and tax breaks, regional disparities and at times suing each other," Ferguson said.

"It builds a culture of divisiveness, protectionism and small thinking when just the opposite is needed.

"If we are going to get out of this mess, we need leadership that rises above this public and private sector leaders, institutional leaders and entrepreneurial leaders who think big, competitive, long-term and global."

With a sluggish economy and vast changes about to happen in the United States, Albertan and Canadian businesses need to find new ways to compete, Ferguson said.

He said there's been too muchfocus on doing business within provincial boundaries, especially during good times.

'We stopped dreaming'

Eight-five per cent of Alberta companies currently generate all of their revenues from within the province,Ferguson noted.

"We stopped dreaming, thinking big, being courageous in our ways."

Ferguson said it's time to act, with lower taxes expected in the U.S. under the coming Donald Trump presidency.

Trump has suggested U.S. corporate taxes could drop to 15 per cent.

Given that the average in Canada is about 20 per cent, it could be difficult for Canada to compete, Ferguson said.

"Investment heads south and eventually head offices go too," he told the crowd at the Shaw Conference Centre event.

Included in his message was a call on all levels of government to stop "punishing" entrepreneurs through "higher and higher taxes."

He said bickering between the political left and right is disconnecting people from each other.

'Under attack'

It needs to stop, he said, adding that said politicians need to work together more than ever.

"The ability for Canada to attract investment and skilled workers will be under attack like never before," he said.

As far as moving forward and building the economy, Ferguson is suggesting Canada needs to expand opportunities for immigration.

He said Canada needs new free trade agreements and should welcome new foreign investment.

He recognized Edmontonians have bounced back from issues many times and challenged everyone to work together reach their potential.