February 2014 Business in Edmonton by Business in Edmonton Magazine

February 2014 $3.50 businessinedmonton.com

SIMON O’BYRNE

The Edmonton Chamber’s Chair Apparent Dress For Success

The Modern Rules for Looking Your Best at Work

Event Planning and Catering Edmonton’s Attraction Factor

The MBA Is Dead, Long Live The MBA!

Edmonton Chamber of Commerce: Celebrating 125 years!

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FEBRUARY 2014 | VOL. 03 #02

View our elect ronic issue of this mon th’s mag azin e onlin e at www .busi nessi nedm onto n.com

Features

Regulars Each and every month

From education to personal appearance, from the way we invest to the new Chamber Chair, Edmonton is intent on re-invention and forward-looking ideology in 2014.

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ECONOMIC FACTORS BY JASON BRISBOIS

The Essence of Edmonton

SIMON O’BYRNE

BY MARK KANDBORG

The Edmonton Chamber’s Chair Apparent

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Fresh News Across all Sectors.

61 E DMONTON ECONOMIC

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DEVELOPMENT CORPORATION

Company Profiles 49 M IGHTY MARMOT BASIN

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Features 27 EDMONTON CHAMBER OF COMMERCE Celebrating 125 years!

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

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PUBLISHER BUSINESS IN EDMONTON INC.

ASSOCIATE PUBLISHER Brent Trimming

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continued

From education to personal appearance, from the way we invest to the new Chamber Chair, Edmonton is intent on re-invention and forward-looking ideology in 2014.

EDITOR Mark Kandborg

EDITORIAL COORDINATOR Nerissa McNaughton

TAX PLANNING BY NERISSA MCNAUGHTON

Moodys Gartner Tax Law Isn’t Afraid of Taxing Problems

COPY EDITORS Nerissa McNaughton Nikki Mullett

ART DIRECTOR Jessi Evetts

jessi@businessinedmonton.com

CONTRIBUTING DESIGNERS Cher Compton

ADMINISTRATION Nancy Bielecki info@businessinedmonton.com

REGULAR CONTRIBUTORS Jason Brisbois

THIS ISSUE’S CONTRIBUTORS Mark Kandborg Ben Freeland Heather Ramsay

Nerissa McNaughton James Cumming

PHOTOGRAPHY Cover photo by Epic Photography Inc.

ADVERTISING SALES Jane Geng Evelyn Dehner Bobbi Joan O’Neil Renee Neil Kerri McMahon

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22 THE MBA IS DEAD, LONG LIVE THE MBA! | BY BEN FREELAND 39 E DMONTON’S ATTRACTION FACTOR | BY NERISSA MCNAUGHTON Major events are an economic boon for any city, but first you have to attract them. How does Edmonton’s attraction factor compare?

44 OPTIMISM PREVAILS | BY HEATHER RAMSAY The Year 2013 was a year of robust growth for Edmonton. This year promises more of the same and brings a sense of economic optimism and interest in longer term financial planning.

46 D RESS FOR SUCCESS | BY NERISSA MCNAUGHTON The Modern Rules for Looking Your Best at Work

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ECONOMIC FACTORS JASON BRISBOIS

BITCOIN: A LOOK AT THE FUTURE OF CURRENCY BY JASON BRISBOIS AND GUEST COLUMNIST CLAIRE MARGUERITE BRISBOIS

ost people have heard of a ‘reserve currency,’ which has been the U.S. dollar since the end of World War II. A reserve currency is held by governments and corporations because it is the currency most often used in international transactions. According to economic theory, the value of the currency is maintained by the underlying economic strength of the issuing country. People living in that country can purchase imports and borrow across borders more cheaply because they do not incur the cost of currency exchange. It should, therefore, come as no surprise that China, with its increasingly strong economy, has proposed that the renminbi should be the global reserve currency. Taking the concept a step further, the European Board for Global Financial Stability suggested that the world move towards a super-sovereign reserve currency which could cross international borders at the same price for everyone. Enter Bitcoin1 – an entirely virtual currency by the people, for the people. There are no coins or bills in the Bitcoin world; just records of transactions which are recorded on smart phones and computers. Bitcoin was launched in 2009 by a mysterious entity known as Satoshi Nakamoto. Nakamoto created a system that operates through the internet with buyers and sellers linking directly and anonymously. In contrast to transaction records being kept by central banks as with conventional currencies, Bitcoin transactions are stored on excess computer space called ‘nodes’ offered by computer owners around

As an easily transferable international currency, Bitcoin offers some significant advantages. the globe. These ‘nodes’ act in concert to track spending, balance accounts at the end of the day, and ensure the total outstanding value of Bitcoin is not overspent. The operators of this network, known as ‘miners,’ are rewarded with transaction fees and newly minted Bitcoins. Currently there are about 14 million Bitcoins in circulation, and no more than 21 million will ever be issued, according to Nakamoto. As an easily transferable international currency, Bitcoin offers some significant advantages. Its digital nature makes it easier for immigrants to send money home. It can offer lower transaction fees than credit cards, saving retailers money; and it could potentially serve as a useful hedge against highly volatile currencies in developing countries. But there are also major downsides to Bitcoin. Since inception it has widely fluctuated in value against developed country currencies, ranging from as low as 32 cents to as high as $1,100 against the U.S. dollar. Some economists attribute the fluctuation to speculators, who have been reputed to hold up to 60 per cent of the Bitcoin in circulation at some points in time. Others regard Bitcoin as a currency designed specifically for money laundering and dirty business. According to Wikipedia, The Washington Post has labeled it “the currency of choice for seedy online activities,” and

CNN has called Bitcoin a “shady online currency.” Since 2012, financial regulators have become more active in addressing Bitcoin, but there has been little consistency across jurisdictions. China and Norway have banned it as a legitimate currency, Germany treats it as an asset for purposes of capital gains tax, and the Canada Revenue Agency says tax rules apply in the same way as for barter transactions. In 2013 the United States Senate held a hearing entitled Beyond Silk Road: Potential Risks, Threats and Promises of Virtual Currencies. At the hearing, Bitcoin and other digital currencies received generally positive reviews with observations such as: Bitcoin is a “legal means of exchange” and that “online payment systems, both centralized and decentralized, offer legitimate financial services.” Bitcoin in its current form may or may not survive. Most certainly, competing virtual currencies will materialize to challenge it; but live or die, Bitcoin represents a watershed in the history of financial markets. It may be the harbinger of a coming era when sovereign nations have far less control over currency than in today’s world. That will be a very interesting time indeed. BIE Jason Brisbois is the director of the Western Centre for Economic Research at the University of Alberta School of Business.

PROPERLY DEFINED, ‘BITCOIN’ REFERS TO THE PROTOCOL AND TRANSACTION NETWORK, WHEREAS ‘BITCOIN’ REFERS TO THE CURRENCY ITSELF. FOR PURPOSES OF SIMPLICITY, THE TERMS ARE USED SYNONYMOUSLY IN THIS COLUMN.

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

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NEWS FROM THE MONTH

CONSTRUCTION

MULLEN RIGGING AND INDUSTRIAL SERVICES ACQUIRED BY NCSG CRANE & HEAVY HAUL SERVICES

On December 18, 2013, Edmonton-based NC Services Group Ltd. announced the acquisition of Calgary’s Mullen Rigging and Industrial Services Inc. NC Services Group Ltd. is the parent company to NCSG Crane & Heavy Haul Services Ltd. (NCSG). “Jamie Mullen and his team have built a great business providing their many customers with specialized solutions to their lifting, moving and hauling needs,” says Ted Redmond, president of NCSG. “Mullen Rigging broadens NCSG’s rigging expertise and provides additional equipment including hydraulic gantries, jacking systems,

PRESIDENT AND CEO – NCSG CRANE & HEAVY HAUL SERVICES

and gives us additional jack and slide crews in Calgary and Leduc.” NCSG, was founded in 1987. After being purchased by its current investor group in 2006, NCSG completed eight acquisitions and shows a compounded annual growth rate of approximately 30 per cent. As the largest crane and heavy haul company in North America, NCSG

provides rigging, lifting and heavy haul services in Prince Rupert, Terrace/ Kitimat, Fort St. John and Tumbler Ridge in British Columbia; Calgary, Leduc/Nisku, Edmonton, Fort McMurray, Grande Prairie, Wabasca and Bonnyville in Alberta; and Regina in Saskatchewan. In the U.S., NCSG has branches in Soda Springs, Idaho; Billings and Sidney in Montana; Williston and Dickinson in North Dakota; and Odessa, Texas. Their impressive fleet contains over 285 cranes, a custom heavy haul tractor and picker trucks ranging from eight to 1,350 tons. NCSG also provides trailer fleet servicing for the refining, oil sands, upstream oil and gas, LNG, mining, infrastructure, commercial and wind/utility industries. Jamie and Jackie Mullen founded Mullen Rigging in 2006. As a leading supplier of specialty rigging, lifting, and hauling services across the province, particularly in southern Alberta, Mullen Rigging was a natural fit for NCSG. Under the terms of this acquisition,

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February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

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NEWS FROM THE MONTH

Jamie, Jackie and the other owners of Mullen Rigging will continue with their current duties while playing a role in NCSG’s growth in the speciality rigging market, making this transaction a great benefit for all involved. “Mullen Rigging’s experienced crews will continue to provide our long-term customers with our specialized knowledge of rigging, gantry, jack and slide, hauling, and lifting services,” says Jamie Mullen. “With access to NCSG’s team of over 630 employees and NCSG’s fleet of over 285 cranes, 215 lines of hydraulic platform trailers, 280 conventional trailers and 78 tractors, Mullen Rigging will be able to take on larger projects and meet even more of our customers’ rigging, moving, lifting and heavy haul needs.” Redmond agrees, “We plan to add Mullen Rigging’s gantries and other equipment/services to the services offered by NCSG’s existing branches, and offer NCSG’s crane and heavy haul services to the important Calgary market from Mullen Rigging’s Calgary location.” As of December 18, The NCSG group of companies includes NCSG Crane & Heavy Haul Services Ltd. (formerly Northern Crane Services and Grizzly Crane), Mullen Crane & Transport Inc., Trans Tech Contracting Inc., Scorpion Industries and Mullen Rigging & Industrial Services. To learn more about NCSG, contact Ted Redmond, president and CEO at 780-993-7607 or visit their website at www.ncsg.com. BIE COMMUNITY

LITTLE WARRIORS’ BE BRAVE RANCH

The statistics are staggering. One in three girls and one in six boys will experience sexual abuse. Eighty per cent of these incidents will occur before the child is 18, and 95 per cent of the victims will know their abuser. The fallout of the abuse is devastating. Seventy per cent of abuse survivors report heavy drug and alco-

hol use later in life and the majority will experience long-term mental and social disorders. There is an organization that aims to change this. Little Warriors, a Canadian-based national charity, focuses on the education and prevention of child sexual abuse by teaching adults how to recognize, prevent and react to sexual abuse. The organization also provides information and support resources. In June 2014, a long-awaited vision of Little Warriors will come true. One of Little Warriors’ missions is to “provide a treatment facility to help children cope with the devastating effects of child sexual abuse.” This treatment facility is taking shape as the Be Brave Ranch. According to a statement issued on littlewarriors.ca, “Throughout the country there are dozens of therapeutic centres dedicated to the rehabilitation of child rapists, but not a single long term treatment facility devoted to the treatment of the damaged victims they’ve left behind. By creating the Be Brave Ranch by Ray LaBonte and family, Little Warriors is taking a major step towards correcting this baffling inequity.” Be Brave Ranch’s early intervention strategies will be victim-focused and aims to treat 40 children each month. The mission of the Ranch is as follows1: • To provide children who have experience the horror of sexual abuse a safe place to heal. • To provide families affected by child sexual abuse a place to deal

HTTP://LITTLEWARRIORS.CA/ABOUT/ABOUT-LITTLE-WARRIORS/

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

with their emotions, grief, guilt and profound anger so they are able to support their children. • To provide those in relationships with sexual abuse survivors a place to learn about symptoms, prevention and how to understand the long lasting effects. There are several ways you can help the Be Brave Ranch create a safe place for children to heal. Monetary donations are accepted through CanadaHelps.org, or through the donation form at littlewarriors.ca/you-canhelp/donate. Alternately, you can donate with your credit card by calling 780-447-1343 or 1-888-440-1343 (weekdays only). Volunteers are needed for junk removal, cleaning and building projects, and the following material donations are being gratefully accepted: • Commercial 4-part stove • Commercial 6-part stove • Commercial freezer • Commercial fridge • Commercial double ovens • 5 microwaves • BBQs • 30 power horse tractor equipped with a snowblower and mower • Weed whacker • Skid steer or Bobcat • Patio furniture • IT equipment • Horse tack • And more To see a complete list of items and services needed, visit littlewarriors. ca/you-can-help/how-you-can-help. This list is constantly updated as the various needs are filled. Little Warriors is committed to spreading the message of responsibility, action and hope while reducing the stigma of sexual abuse for the victims and creating roadblocks for the perpetrators. They strive to “turn pain into change;” the Be Brave Ranch is a major step forward in creating this much-needed change. To learn more, about Little Warriors, visit littlewarriors.ca. To learn more about the Be Brave Ranch, visit littlewarriors.ca/about/be-brave-ranch. BIE

Executive health programs top list of benefits for star performers

xecutive healthcare is fast becoming an important part of the benefits that companies provide to their top talent. For well over 20 years, organizations have recognized that protecting their leaders and star performers offers a substantial long-term return on investment. An executive health assessment typically provides a head-to-toe examination as well as a battery of advanced tests that range from important biomarkers to observing the heart under the stress of exercise. Most companies offering executive health services follow the same basic evidence-based prevention guidelines, but the overall landscape is changing fast. First, companies have begun to realize that the early detection of disease is only a small part of prevention. The real goal of prevention is to help the executive build resilience to fend off disease or disorders. Early detection of cancer or cardiovascular disease is

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good, but never detecting anything is better. As a result, many companies are upping their game by enrolling their leaders in comprehensive programs of health and prevention. These programs offer a multidisciplinary team approach to prevention, but also give the executive advanced medical care when they need it. â&#x20AC;&#x153;Organizations now recognize that it is worth a little extra investment to help their executives overcome lifestyle challenges that are increasing their health risks, and provide fast, expert care when a medical problem surfacesâ&#x20AC;?, says Don Copeman, the founder and chairman of Copeman Healthcare Centres in Vancouver, Calgary and Edmonton. According to Copeman, many companies now offer the same services to the spouse and family of the employee, which is highly valued as a benefit. The cost of such comprehensive services range from about $2,000 to $5,000 per year.

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COVER

SIMON O’BYRNE: THE EDMONTON CHAMBER’S CHAIR APPARENT

SIMON O’BYRNE

The Edmonton Chamber’s Chair Apparent BY MARK KANDBORG

he Edmonton Chamber of Commerce embraces change, which is what this city seems to be all about as of late. There are good reasons for this. As the world around us continues to evolve, just maintaining the status quo, now more than ever, means falling behind. Rapidly. We have a name for places that have stubbornly refused to change. We call them ghost towns, and the funny thing

about ghost towns is that they are found only in places where things were once exceptionally good. This is an instructive point. Those who resist change, and Edmonton has more than a few citizens who might be characterized that way, do so because they see things as being pretty darn good and assume that change of any kind will likely make things worse. www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

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SIMON O’BYRNE: THE EDMONTON CHAMBER’S CHAIR APPARENT

O’Byrne’s experience working across varied cultural landscapes has taught him that when it comes to developing workable urban models, one size does not fit all.

While “if it ain’t broke don’t fix it” makes good sense in the short term, what works now likely won’t work forever. That may be why a growing percentage, some would say a growing majority, of Edmontonians understand that change is flowing all around us regardless of whether we want it to, and that moving with that current rather than against it will not only get us farther, we’ll be in much better shape to deal with whatever awaits us around the bend when we round it. That being said, the trick to navigating any stream successfully is to not just paddle blindly, nor to float like a piece of driftwood. Informed, calculated decisions must be made constantly. That’s why it’s called navigating. The Edmonton Chamber of Commerce understands this very well. Every February, at a decidedly forward-looking event celebrating change, the Edmonton Chamber thanks the outgoing chair for his or her work over the last 12 months and ushers in the member who will take over for the next. It’s not so much out with the old and in with the new, of course. This transition would be best described as out with the successful and in with the different. After all, building on success with new ideas is a perfect formula for constant improvement, of which our city’s Chamber, the largest and oldest in the country, has a proud history. In keeping with that tradition, outgoing chair Lindsay Dodd will rise this month and welcome fellow member and former vice-chair Simon O’Byrne as he ascends, metaphorically at least, to the helm. Considering the current of change running through what some are calling “The New Edmonton,” O’Byrne’s appointment to the position seems particularly inspired. Simon O’Byrne not only understands growth and embraces change, he has dedicated his professional life to managing it. As vice president of urban planning for global design and consulting giant, Stantec Inc., which he jokingly describes as his “day job,” this intrepid planner’s expertise has allowed him to oversee projects in points as far flung as India, the U.K. and the Middle East. He has also worked extensively on our own continent, from Inuvik to New York City and from Minnesota to Saskatoon. Closer to home, O’Byrne has been instrumental in development of the downtown arena and entertainment district, the redevelopment of the Alberta Legislature Grounds, the Saskatoon city centre plan, Century Park Transit Urban

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

Village, and the capital region land use plan. Here is a man who will not only move forward with enthusiasm, but can also avoid the eddies and sweepers in our path as he discerns the most sustainable route forward. When it comes to navigating the waters of growth via the intricate and comprehensive charts of urban planning, you’d be hard pressed to find a more knowledgeable or passionate voyageur than O’Byrne. “The job of urban planning is to shape our cities so that we can be more sustainable in terms of the environment and our ecological footprint,” he says, “but there’s a strong correlation between good urban planning and good economic development. If we don’t have good urban design, we’re going to fail to attract and retain the best and the brightest.” One of the most pressing issues for the Edmonton Chamber has long been, and continues to be, growing our labour pool. “Businesses are crying for skilled labour, and we’re not going to be able to retain the best out of the U of A, Grant MacEwan or NAIT or draw the best out of India, the United States, the Philippines or other parts of Canada if we’re not creating the types of communities that are going to attract people,” O’Byrne says. O’Byrne’s experience working across varied cultural landscapes has taught him that when it comes to developing workable urban models, one size does not fit all. “Some people that come here want to be family-centric. They want to have rec centres and single family housing with a backyard where they can have a barbecue and let the dog out. Others want to have more urbanity, to embrace the river valley, arts scene, farmers markets or go cross-county skiing,” he says. “So I think the city has to be a little something for everyone. Good urban planners should be catering to all the perspective needs of a society.” When asked how this city measures up by that yard stick, O’Byrne admits, “We’re not there yet. But there’s a discernible attitude change in Edmonton. The urban lexicon if you will, the narrative, has really changed in the last five or 10 years.” Hard to argue with that assessment, but you may be surprised by what this man, who travels extensively, says next. “No place on this continent is as optimistic about the future as Edmontonians are right now. More than Calgary, more than Vancouver, more than Florida, more than Texas. Everyone in Edmonton is pretty

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SIMON O’BYRNE: THE EDMONTON CHAMBER’S CHAIR APPARENT

“No place on this continent is as optimistic about the future as Edmontonians are right now. More than Calgary, more than Vancouver, more than Florida, more than Texas. Everyone in Edmonton is pretty bullish about the future and thinks the city’s best days are in front of us.”

18 February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

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SIMON O’BYRNE: THE EDMONTON CHAMBER’S CHAIR APPARENT

bullish about the future and thinks the city’s best days are in front of us.” O’Byrne isn’t referring solely to the economy when he speaks of Edmonton’s exceptional optimism. “It’s everything. The food scene today is far ahead of where it was five or 10 years ago. You look at new buildings going up today, the quality of the materials and the design. New infrastructure, the Walterdale Bridge, the Royal Alberta Museum. We’re constantly ratcheting up the design excellence in this city,” he says, and believes that this positive movement really had its beginning with former mayor Stephen Mandel’s infamous “say no to crap” speech. “He drew a sort of line in the sand, and from that day forward it was all about, how do we embrace design excellence? And the Chamber has always had a focus on how do we make Edmonton into a great northern city?” It seems appropriate then to explore the question of how we do, in fact, achieve these goals. To get there, O’Byrne points out that more fundamental questions need to be addressed. “How do we not settle and embrace complacency, but rather strive for excellence in everything we do? How do we take all of this economic growth and make Edmonton more dynamic, more vibrant? I subscribe to the mantra ‘as goes the downtown core, so goes the rest of the city and the region,’ because the core is what really defines it.” Offering Detroit as an example of a city which has lost vibrancy, literally at its core, he says, “The suburbs could be flourishing and economically healthy, but that wouldn’t be the perception as far as trying to attract businesses.” In stark contrast to a city like Detroit, O’Byrne sees this moment as a great time for Edmonton. “We’re now adding almost 100,000 people to the population every three years,” he says. “We not only have to make sure that this rate of growth is sustainable in the long term, but also that our urban environment is better, that our businesses are stronger, that we turn more businesses into PCL’s or Stantecs or what have you.” One of the current trends that will be key to such sustained economic growth in this city is the emergence, and tenacity, of what he refers to as the creative class. “Writers, artists, maybe someone who’s opening up a new restaurant or a tech company. That’s a group that could really go anywhere to do what they do, but they’re choosing quite consciously and deliberately to stay in Edmonton. That wasn’t happening so much 10 years ago. We have to make sure that’s very much the case 10 years down the road, but even further amplified.” O’Byrne sees two key reasons for members of the potentially very mobile creative class to stay put here, both of which stem from a cultural environment unique for a city of this size. “People rightfully feel that they really have the ability to be more creative here than in most places, that there’s a freedom. Along with that, there’s an ability to be an agent of change. If you really care, if you’re passionate about making Edmonton better, if you want to get involved, there’s an ability to displace far more water here than if you were to go to Toronto or Vancouver,” he says.

“You don’t have to be three generations in and part of the establishment. You can be 18 months here, but if you get engaged and champion a cause, you can make a difference. There’s really a chance to lay a cornerstone here and to affect its shape and angle. In a lot of other cities, the pattern’s already set and you have little choice but to get with the pattern. But Edmonton is evolving so quickly that you’re able to be monumental in your influence.” O’Byrne, like many other commentators on Edmonton’s business culture, attributes much of its shape and personality to, “That barn raising mentality of helping people, whether they’re in the same industry as you or not. If Edmontonians see someone who’s really passionate about something, rather than being the crab in the bucket and pulling them down, the question is how can I get behind them? How can I lift them up and make sure that they’re successful? This is the type of attitude right now that’s permeating everything. And it’s kind of delightful to be in the middle of it, as opposed to interacting with some other environments where it is fiendishly competitive, where you have to scratch and beg for crumbs.” O’Byrne is very aware of the sorts of eddies and sweepers the city needs to avoid to keep this flow of progress moving. “It could be very easy in this time of prosperity to add too much red tape and regulation, because when you have a huge amount of growth, people often want to corral it. But if you corral it incorrectly, you run the risk of inadvertently adding the brakes to the economic cycle that we’re in.” This man, who will be chair, is appropriately passionate about the role the Chamber has to play in all of this. “It’s the hub of the business community in Edmonton. It’s the place where people meet. Small businesses can come and use the space at the World Trade Centre for boardrooms, for conferencing, for holding seminars. We literally create the space to enable small businesses to be successful, as well as giving them a hand up,” he says. “But we also make sure we’re advocating for large businesses. That means reducing red tape; that means insuring that taxes, which are necessary for a civil society, are nonetheless reasonable and fair. Above all else, our job is to enable growth and opportunity.” It’s clear where O’Byrne’s sights are set: on a bright future for this city. “My daughters, who are three and eight, when they’re my age and they look back I don’t want them to say, you had this tremendous prosperity. Show me the evidence for that prosperity, dad. Theirs should be an Edmonton that’s even better than the one we have now. One that’s contemporary and vibrant with healthy suburbs that are growing and prosperous, a really healthy core and central areas that are dense, that are vibrant, mixed use and very sustainable.” This self-described passionate, dyed-in-the-wool Edmonton booster believes very strongly that just such a vision for Edmonton’s future is one that we’re poised to achieve. Appropriately, that same passion and dedication to the city he loves has earned Simon O’Byrne the best seat in the house to observe, navigate and above all, enable its approach. BIE www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

TAX PLANNING

MOODYS GARTNER TAX LAW ISN’T AFRAID OF TAXING PROBLEMS

Moodys Gartner Tax Law Isn’t Afraid of Taxing Problems BY NERISSA MCNAUGHTON

ords have the power to evoke powerful emotions, but few words strike fear in the heart of a person like the phrases: tax law, IRS and CRA. Yet, while any quake at the thought of tax legalese, long phone calls with tax agents, and mountains of confusing paperwork, there is a small yet stalwart group that welcomes the challenges of tax law with open arms. They are Moodys Gartner, and their slogan, “tax well solved™”, summarizes their approach to business. They solve tax problems – and they do it on both sides of the border. Moodys Gartner Tax Law is a firm with branches in Edmonton, Calgary, Vancouver and New York State. The roots of the firm go back six years with Kim Moody, Greg Gartner, Roy Berg and Dale Franko as its founders. The niche firm specializes in Canadian and American (cross-border) tax law, and largely serves private clients. Moody, a chartered accountant and director of Canadian tax advisory, works from the Calgary office. “There is a big, big, need in the marketplace for what we do,” he states about the reason for existence of the firm. “There is a huge need and it was underserviced.” Greg Gartner is both a chartered accountant and a lawyer and acts as the director of Canadian tax law for the firm, working from the Edmonton office. His reasons for entering the profession came about in a slightly different way. “When I was going through business and law school, I spent some summers working on the rigs up north. My dad put his foot down and said ‘it never hurts to learn something about accounting .’ So, I started working for an Edmonton accounting firm while going through law school to pay my way. I got interest-

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

ed in it from there.” But, he admits with a laugh, “some days I still miss the rigs!” However, whatever thrill is missing from navigating a big rig on a northern road is recaptured in the specialized services offered by Moodys Gartner, as Roy Berg, director of U.S. tax law, is happy to point out. “What makes us unique is that we have U.S. professionals and Canadian professionals and those professionals are both accountants and lawyers,” says Berg. “It is a very unique mix of professionals. The reason for that is if you need tax advice, you can either go to a lawyer or you can go to an accountant. The advice you get from a lawyer is understandable for other lawyers. The advice you get from an accountant is understood by another accountant. By having both accountants and lawyers working together under the one roof of a tax law firm, we produce a work product that is understandable and actionable by both professions, which is most beneficial to the client. Our U.S. tax lawyers are typically U.S. born,” Berg continues, “They all (myself included) were educated in the U.S., have graduate degrees in U.S. taxation from U.S. institutions and have practiced in the U.S.. There are only a handful of firms based in Canada that have this type of expertise.” Gartner, who advises on purchases, sales of businesses and corporate reorganizations, says his job entails a 50 per cent cross-border element in the U.S., Europe and South America. To demonstrate the need for cross-border tax specialist advice, he points out, “The Income Tax Act alone is over 2,000 pages. In the last five years in my practice I’ve seen more changes than I had in the previous 15!”

TAX PLANNING

MOODYS GARTNER TAX LAW ISN’T AFRAID OF TAXING PROBLEMS

ROY BERG

KIM MOODY

GREG GARTNER

When it comes to taxes, there are many things the average Canadian fails to consider. In addition to making sure your reporting has been completed and filed correctly, one must also think about tax planning. According to Gartner, if you are proactive in terms of your future transactions and how you structure them, you can minimize your tax burden. In Canadian tax law, it is perfectly legal to structure your affairs to pay the least amount of tax as long as you remain in accordance with the rules. While Canadians are warming up to the idea of seeking advice to utilize these tax laws, they are still shy about dipping their toes into the murky waters of planning around U.S. tax laws. “Expanding into the U.S., that is where taxpayers get either overwhelmed by the complexity or ignore the issues because they perceive the tax laws are the same as Canada’s,” says Gartner. He is, however, happy to point out, “That is changing very quickly. Our firm cements this practice by having services for those people.” While not an exceptionally large firm, Moodys Gartner proves their strength lies in their expertise. Currently there are 20 employees in Calgary, eight in Edmonton, two in Vancouver and 13 in New York State. “Those are not huge numbers, but we are only a tax shop. To have 40 professionals doing just tax – only a handful of international law firms will have that large of a tax department. So if you took the entire tax department of one of the biggest law firms in Canada, we stack right up with them in terms of the quantity and definitely the experience of the biggest and best,” says Berg with pride. Their newest location, Vancouver, houses a senior dispute resolution tax litigator (and interestingly enough,

former professional baseball player), Tim Clarke. “He is the cornerstone of that office,” says Berg of the man hired to head up their newest service offering. While Moodys Gartner has assisted clients with dispute resolution in the past, addressing it in this targeted way is a new venture for the firm. Clarke will handle CRA dispute matters and if the firm’s past track record is any indication, this will be yet another area of great success. In addition to providing expert tax law services, Moody, Gartner and Berg are always happy to provide education about the profession through volunteer speaking, mentoring, legal education programs and more. Moody is a former chairman of the Canadian Tax Foundation, which he served without compensation, as well as the former chairman of The Society of Trust and Estate Practitioners for Canada (STEP). Berg sits on the advisory board of the New York School of Law’s international tax program and sits on board of STEP’s Edmonton chapter. “The bottom line is, we are not shy about volunteering for the benefit of our profession,” says Moody. The way to succeed is to work hard in the areas you excel, and trust the experts in the areas you are unfamiliar with. Just like a bride would likely not sew her own gown, make her own cake, provide the DJ services and officiate the wedding, neither should a person unfamiliar with tax law try to navigate the many rules, changes and procedures on their own. Moodys Gartner Tax Law, a firm founded by and staffed with a wonderful group of people whose careers are dedicated to the tax profession, are the professionals to trust for sound, expert and timely tax law advice. BIE www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

EDUCATION MBA

THE MBA IS DEAD, LONG LIVE THE MBA!

The MBA Is Dead, Long Live The MBA! I

BY BEN FREELAND

n 1908, the Harvard Graduate School of Business Administration established the worldâ&#x20AC;&#x2122;s first Master of Business Administration, or MBA, program in response to growing industry demands for a more scientific approach to business management instruction. Fifty years later, Americaâ&#x20AC;&#x2122;s postwar economic boom resulted in a surge in demand for skilled business administrators, and faced with an overall skill shortage among the new crop of managers, this still niche format, which covered everything from accounting and finance to marketing, human resources and operations management quickly became the academic gold standard for corporate executives.

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

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EDUCATION MBA

THE MBA IS DEAD, LONG LIVE THE MBA!

By the time the MBA turned 100, however, rumours of its death had become common fare in newspapers and business magazines. While as recently as the 1990s (particularly during the dotcom bubble) MBAs were still widely perceived as a ticket to a fat salary, today the MBA’s lustre has faded considerably. Of the criticisms levied against MBA programs, the most often heard is that they offer a cookie-cutter educational product with little focus on entrepreneurship. In a recent interview, journalist-turnedbusiness guru Philip Delves Broughton excoriated Harvard Business School, dismissing its MBA program as providing “the Fisher-Price version of entrepreneurship.” Others criticize business schools, particularly U.S. ones, of priori-

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

tizing faculty research over teaching while giving students little more than overpriced networking opportunities. In spite of such criticism, however, MBA programs appear to be holding steady. As recently as 2011, MBAs constituted 25 per cent of all master’s degrees accorded in the United States (compared to only three per cent in computer science), while would-be students continue to jockey for spots at the top schools. Meanwhile, here in Canada MBAs continue to be the gold standard in business education. Today 39 Canadian universities offer MBA programs (including three in Alberta), with 20 offering executive MBAs, suggesting that the death of the MBA, in this country at least, has indeed been greatly exaggerated.

EDUCATION MBA

THE MBA IS DEAD, LONG LIVE THE MBA!

In Alberta, the University of Alberta and the University of Calgary (through the Haskayne School of Business) offer wellestablished MBA programs that continue to fare well in the annual Maclean’s and Canadian Business magazine university rankings. The University of Lethbridge also offers an MBA program through its faculty of management (with an optional specialization in First Nations governance), while Athabasca University offers a fully accredited executive-style MBA entirely online. Another popular route is the Queen’s University MBA and Executive MBA, the latter of which is offered mostly online. Ranked by Business Week magazine as the top MBA program outside the United States since 2006, the Queen’s MBA has long carried considerable weight in Alberta’s boardrooms. Of the current executive MBA class, 30 per cent are Albertan. For Shai Dubey, director of the Queen’s full-time (regular) MBA program, an MBA remains a valuable investment across the board. “MBAs are changing,” he asserts. “I think the criticism they’ve received is mostly well founded, but there’s definitely a recognition that we’re in a new economy now.” On the question of entrepreneur-

GLORIA SACCON

SHAI DUBEY

ship training, Dubey contends that Queen’s is among the growing number of business schools that is giving it increased emphasis in the MBA curriculum. “It’s not just a matter of what we teach, but what we practice. In 2007, my first class as director, 40 per cent of our graduates went into their own venture, and on average I would say it’s 10 to 15 per cent. MBAs certainly aren’t the panacea many people seem to think they are, but I don’t think there’s any better way to learn the practical ins and outs of running a business.” As Canada’s top-ranked business school, according to many, the Queen’s University School of Business offers three different types of MBA programs: a full-time ‘regular’ MBA, an executive MBA program aimed at students who already have several years of business management under their belt (most of whose curriculum is offered via videoconferencing), and a co-accredited Cornell-Queen’s Executive MBA, which gives students accreditation from two of the world’s top-ranked business schools. Unlike the regular program, whose average student age is late-20s, the average age for a Queen’s MBA student is around 40 (one of the highest in the country) and has www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

EDUCATION MBA

THE MBA IS DEAD, LONG LIVE THE MBA!

So how do you separate the proverbial sheep from the goats among MBA programs? Dubey contends that in addition to a school’s job placement record (which the more reputable publish and the less reputable don’t), average student age is a very good indicator of quality.

between five to eight years of management experience behind them. For Albertan students, much of the appeal of the Queen’s Executive MBA program, in addition to its flexible mode of delivery, lies in the diversity of the students within it. “It’s really like being in a national classroom,” says Gloria Saccon, director of the Queen’s Executive MBA program. “The U of A and the U of C both have excellent MBA programs, but as an Albertan you’ll mostly be surrounded by local professionals. Our program really exposes students to a wide range of industries, and that diversity does wonders for people’s strategic thinking. We have incredible diversity in this program, from people in very traditional business sectors to people in fields like veterinary medicine, arts and culture – even church ministers.” While the Queen’s School of Business’ international prestige allows it to be picky about its admissions, such is not the case for many schools around the globe. Indeed, MBA applications are noticeably lower than they were five years ago, as a result of economic recovery and other global trends, such as tighter immigration laws in the UK and a 40 per cent depreciation of the Indian rupee (a major source of MBA students). “MBA application rates tend to be inversely proportional to the overall health of the economy,” explains Dubey. “When times are good people are generally less inclined to take time out to pursue education.” Nevertheless, Dubey asserts that aspiring business executives are wise to look at the benefits of higher learn-

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

ing in business management, if for no other reason that the great demographic ‘kick upstairs’ that everybody has been predicting is not happening at nearly the speed most were predicting a decade ago. “Now that the mandatory retirement age has been done away with, the much-anticipated mass exodus of baby boomers from the workplace simply isn’t happening,” he says. “A lot of people simply aren’t retiring, and this means there’s still very much a filter in place. In this economy an undergraduate degree no longer cuts it. That doesn’t necessarily mean an MBA, but from the standpoint of learning how to run a business, it’s hard to beat.” So how do you separate the proverbial sheep from the goats among MBA programs? Dubey contends that in addition to a school’s job placement record (which the more reputable publish and the less reputable don’t), average student age is a very good indicator of quality. “For some schools an MBA program is indeed just a money-maker and a reputation-builder,” he alleges. “Average age is generally a good indicator of whether or not they’re simply trying to fill their classes. If a program’s average age is 22, that’s cause for concern. So much of your learning in an MBA program is from your fellow students as well as from your instructor, and the older your fellow students are on average the more experience people will have. In the end no number of letters beside your name will guarantee success. It’s all about the skills you take away from your learning experience.” BIE

S R A

E Y 5 2

The mission of the Edmonton Chamber of Commerce is To Create the Best Environment for Business. For 125 years the Edmonton Chamber has worked on behalf of its members to create the opportunities that make a lasting difference for entrepreneurs and business people. Join us as we celebrate their success.

A PART OF

HISTORY WTCE’s time-honored structure compliments our modern, yet classic downtown core and maintains its historic presence.

orld Trade Center Edmonton was designed by the most momentous architects of the early modern Alberta era: Rule, Wynn and Rule. It has become a significant historical and architectural component of downtown Edmonton. The building was originally constructed from 1950-1951 as the residence for Edmonton’s first financial institution, the Imperial Bank of Canada, now titled Canadian Imperial Bank of Commerce (CIBC). The seven-storey building was officially completed and occupied in mid-1954, looking very much as it does today. This particular architecture is an example of early techniques used throughout Edmonton. WTCE’s time-honored structure compliments our modern, yet classic downtown core and maintains its historic presence. Today, classic architectural styles remain and new trends have the latest in environmental technology. Prior to its present incarnation as a modern office facility, the building stood empty and silent for a number of years. During the 2003-2004 winter season the structure was renovated from top to bottom, modernizing its contents—a testament to our city’s urban past. This historic downtown landmark became the proud home of the Edmonton Chamber of Commerce on July 8, 2004. Located on the 6th floor, WTCE is the international division of the Edmonton Chamber of Commerce and offers business services to the Edmonton region. Edmonton’s structural development has progressed significantly, but fragments of the past continue to lead our city into a bright future.

Edmonton Chamber of Commerce - Celebrating 125 years

LOOK TO THE

FUTURE Our sense of optimism is palpable and the Edmonton Chamber is working on behalf of members to ensure that the region and province maintain our competitive advantages.

fter 125 years as a part of the business community, it is time to take stock of where we are and look towards the future. The key elements are in place for continued success. The region enjoys strong demand for its core product: hydrocarbons. There is continued investment in training and workforce development that will create the skills and innovation needed for the future. Business enjoys good access to capital and an infrastructure base that is being steadily built. More importantly, the business community is full of entrepreneurs who have the necessary skills to launch start-ups and build them into world leading enterprise. The Edmonton business community has what it takes to compete on the world stage. Edmonton Chamber members are steadily diversifying their products and services to reach out across the globe and find new markets and build new relationships. Our sense of optimism is palpable and the Edmonton Chamber is working on behalf of members to ensure that the region and province maintain our competitive advantages. Now is the time for Edmonton business to make its mark. The Edmonton Chamber will support them every step of the way for the next 125 years.

Edmonton Chamber of Commerce - Celebrating 125 years

THE SPIRIT OF

COMMUNITY It is a true honour for the Edmonton Chamber to be associated with many member companies who donate great deal of their time and effort to support our thriving community.

ur city’s sports teams, charities, festivals and attractions are of the unforgettable aspects of Edmonton’s lively community. Edmontonians have always provided exceptional support as fans, volunteers, donors and educators due to our passion for our community and our people. Whether we lead our faithful teams—Oilers, Eskimos, Rush and youth leagues—to victory through cheers of encouragement or provide monetary support to help save the lives of our fellow acquaintances, Edmontonians continuously demonstrate and strengthen community spirit. Providing support and encouragement throughout our city formulates strong community bonds and positively impacts our economic position. The Edmonton Chamber is proud to provide business support to strengthen community spirit, relationships and initiatives. It is a true honour for the Chamber to be associated with many member companies who donate a great deal of their time and effort to support our thriving community. Edmonton’s active citizens possess admirable qualities of determination, persistence and friendliness, and have the ability to exceed expectations, face tough challenges and even survive in Alberta’s harsh winter season. The people of Edmonton create unique icons of encouragement to demonstrate team spirit, such as encasing vehicles in Edmonton Oilers branded gear. We donate our time, effort and funds to individuals in need at various associations throughout our city and consistently meet our non-profit goals. These commendable aspects continue to evolve, and have conceived Edmonton’s memorable history and bright future as a City of Champions.

Edmonton Chamber of Commerce - Celebrating 125 years

Congratulations on 125 years of building Edmonton.

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CONNECTING TO

THE WORLD Northern Relations are a strategic priority of the Edmonton Chamber and countless members do a tremendous amount of business in communities across northern Alberta and in the far North.

ome of the first businesses in Edmonton looked to Canada’s North as their prime opportunity for growth. From the earliest days on the banks of the North Saskatchewan River, Edmonton has been a natural gateway for goods and services that flow northwards. Our transportation and infrastructure networks have served to ship materials and goods eastward and to the West Coast. Despite the winters, Edmonton business has benefitted from the city’s location in the middle of the prairie. Since the earliest days of the Edmonton Chamber, it has supported the efforts of its members to work in the North. Northern Relations are a strategic priority of the Edmonton Chamber and countless members do a tremendous amount of business in communities across northern Alberta and in the far North. Today Edmonton business connects to the globe through sophisticated networks: rail, road, air and digital. The Edmonton Chamber will continue to look to the North and advocate for sustainable investment. The special relationship that Edmonton has with the North is a part of our culture and is a core element of Edmonton’s economy. Business in Edmonton is agile and adept at developing global partnerships that work within our regional economy. There is also a strong internal demand to create new markets. The Edmonton Chamber continues to work towards our members’ goals while as they look around the globe to grow Edmonton business.

Edmonton Chamber of Commerce - Celebrating 125 years

Together We deliver responsibly

Sustainable transportation solutions

www.cn.ca

A PROFESSIONAL

ECONOMY A considerable number of Chamber members work in Edmonton’s professional services sector, showcasing professionalism and proudly representing our city.

ndividuals and organizations within the professional services sector, act as integral support systems for the success of all industries, businesses and community groups. Edmonton’s professional services have significantly evolved over past decades, providing stability, security and improvement opportunities to our community’s industry and economic development. Upon being introduced to the Edmonton market, the services industry gradually began to develop and now makes up 7.7% of our urban industry. Many of our large service corporations commenced in the entrepreneurial class, with one and two man shops. These individuals accepted the risks associated with new business ventures and progressively developed the powerful enterprises in today’s society. Professional services experts continuously lend knowledge and support to Edmonton’s diverse culture of established and emerging businesses, making them an essential component of everyday business. A considerable number of Chamber members work in Edmonton’s professional services sector, showcasing professionalism and proudly representing our city. One of Edmonton’s many notable aspects is our high class pool of service specialists. Our thriving city houses a respectable number of professional services experts who are recognized as some of the top Canadian and global professionals. The quality skills of our community’s professionals increase service standards throughout our city, enhancing our market environment.

Edmonton Chamber of Commerce - Celebrating 125 years

1889 WAS THE START OF SOMETHING BIG The roots of the Parlee McLaws Edmonton office are formed Visionary pioneers launch the first Edmonton Chamber of Commerce

CONGRATULATIONS TO THE EDMONTON CHAMBER OF COMMERCE ON CELEBRATING 125 YEARS OF SUPPORTING THE GROWTH AND SUCCESS OF BUSINESS IN THE EDMONTON REGION. PARLEE MCLAWS LLP IS PROUD TO SHARE THIS MILESTONE WITH YOU.

Relationship Focused. CALGARY | WWW.PARLEE.COM | EDMONTON

THE

STEADY BUILD S Due to Edmonton’s continuous growth, the construction industry is crucial for the expansion of our evolving city and the sustainability of our economy.

ince immigrants chose to settle in central Alberta, Edmontonians have been forced to design and build structures able to withstand the harsh, unpredictable elements. Constant seasonal challenges combined with new discoveries, including natural resources, have shaped our construction industry into what has undoubtedly become one of Edmonton’s core strengths. Fifty-one Edmonton Chamber members are active and influential participants in the construction industry and contribute to Edmonton’s outstanding construction performance. Edmonton has the ability to develop exceptional construction due to Alberta’s core industry of resource extraction and our city’s perpetual growth. Small companies maintain continuous growth for decades and become global giants time and time again. Our experienced, innovative industry has initiated and maintained Edmonton’s current market state and is the fundamental element to future development. We have exhibited our thorough, creative, well executed building abilities via the construction of pipelines, resource mines, landscapes and various forms of architectural structures throughout and surrounding our city. Regardless of the structure, our professionals generate quality results that withstand various climates and the passing of time. Since our city’s birth, construction has remained a critical component of Edmonton’s market success. It provides growth opportunities for other industries and businesses, and increases our city’s population by producing living quarters for new residents. Due to Edmonton’s continuous growth, the construction industry is crucial for the expansion of our evolving city and the sustainability of our economy.

Edmonton Chamber of Commerce - Celebrating 125 years

The Name In Active Adult Living With over 30 years of experience creating award winning multi-family urban villages for adults and seniors, Christenson Developments has been providing Edmonton and surrounding area with more than just a home.

Congratulations to the Edmonton Chamber Of Commerce on their 125th Anniversary.

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EVENT PLANNING AND CATERING

EDMONTON’S ATTRACTION FACTOR

EDMONTON’S ATTRACTION FACTOR BY NERISSA MCNAUGHTON PHOTOS PROVIDED COURTESY OF TWoSE

Major events are an economic boon for any city, but first you have to attract them. How does Edmonton’s attraction factor compare?

he National Association of Corrosion Engineers (NACE) met in Edmonton this past January for their 2014 Northern Area Western Conference. The three-day conference focused on corrosion in oil and gas pipeline systems as well as oil sands operations and facilities. Alberta Innovates Technology Futures (AITF) was one of the sponsors of the conference, and although Edmonton is their host city every four years, AITF’s John Wolodko has nothing but praise for the capital city. “Edmonton is as good as any place to host a conference,” says Wolodko. “It’s a great location and central to the energy industry.” The annual conference is hosted in four major cities on a rotating basis and draws upwards of 500 attendees. Wolodko, who organizes a number of conferences and events, describes Edmonton’s venues as “fantastic” and the Shaw Conference Center as “great.” Edmonton hosts several events, conferences and shows each year and it’s no accident that Edmonton is a hot-spot for these well-attended activities. Candice Stasynec, executive director/ Edmonton Events for the City of Edmonton, says the City is an active participant attracting and retaining events. “We use a variety of tools, techniques, strategies and tactics to attract events to the city, says Stasynec. “Strategic positioning, developing solid and long term relationships, getting the “Edmonton” name out to provincial, national and international events rights holders, and staging excellent events in Edmonton are all part of the tool kit. We stay current on upcoming events and opportunities and also about leading practices in the industry. We directly bid on events and also help and support other groups in the city to do so.” www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

EVENT PLANNING AND CATERING EDMONTON’S ATTRACTION FACTOR

Have these practices been successful? Absolutely! Since 1978, Edmonton has attracted and showcased events that garnered international attention, including:

• Commonwealth Games 1978 • Universiade Summer Games 1983 • 2001 world championships in athletics • 2001 world championship in triathlon • First ever Heritage Classic outdoor NHL hockey game 2003 • Grand Prix and Indy car racing 2005 to 2011 • World Masters Games 2005 • FIFA U-20 Men’s World Cup 2007 • World Heavy Oil Congresses - 2008, 2011 and planned for 2015 • ICLEI (environmental congress) - 2009 • Roar of the Rings Olympic Curling Trials 2009 • Canadian Country Music Awards - 2010, 2013 and planned for 2014 • CFL Grey Cups • International Ice Hockey Federation World Junior Championships 2011 • FINA men’s water polo Olympic qualification tournament 2012 • ITU world cups (triathlon) • Brier curling championships • Canadian women’s open golf championships 2007/2013 • Canadian championships in fencing, little league baseball, ball hockey, figure skating • World championships in water skiing, baseball, Tae Kwon Do, swimming, ringette

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

The involvement of the City of Edmonton does not stop when the events roll into town. “The City of Edmonton plays a major role in events that occur in the city,” informs Stasynec. “We have a civic events office in the community services department that plays a significant role in the successful planning and staging of events. The civic events offices coordinate the services of all departments including transportation (roadways and transit), Edmonton Police Service, Edmonton Fire Rescue Services, permits/ licensing, use of city facilities and lands and so forth. This is a ‘one stop’ type of services and it is really well received by organizations planning events.” Stasynec points out, “It is vital for a city such as Edmonton to attract and successfully host national and international events. Events are a tool that can boost a city’s image and reputation, bring economic impact and economic development, create a rich and vibrant culture for residents and provide a vehicle to attract visitors to the city. Events can have a very positive economic impact on a city – both short term and long term. The short term benefits can be to hotels, restaurants, retail shops, car rental business, taxis cabs and so forth. The long term benefits can include new or renovated infrastructure that citizens can utilize and enjoy for entertainment or recreational/ health purposes; enhanced transportation services and networks; enhanced tax base and so forth.” When we think of events in our city, it is easy to think only of the major sporting tournaments, the festivals and the conferences, but there is a humble facility on the west side that has played host to some of Canada’s best-attended events: Telus World of Science - Edmonton (TWoSE). If you think of TWoSE as just a place to take kids to learn about science or that place with the large IMAX screen showing nature films, think again. Many corporations book TWoSE for conferences and training sessions and use the many exhibitions as part of their leadership training or as entertainment. For example, the Star War Identities travelling exhibition provided many business leaders

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EVENT PLANNING AND CATERING EDMONTON’S ATTRACTION FACTOR

The Star War Identities travelling exhibition provided many business leaders with the perfect opportunity for their staff to learn more about themselves through the interactive displays geared towards personality identification.

with the perfect opportunity for their staff to learn more about themselves through the interactive displays geared towards personality identification. Steve Baker, TWoSE’s chief operating officer, says the iconic Edmonton facility is very unique. The interactive exhibits they book, such as Body Worlds, Harry Potter and Titanic are only available to facilities that have 5,000+ square footage of display space. “These are not cheap ventures for us or them to go into,” says Baker of the many exhibits TWoSE has acquired and hosted over the years. The exhibit owners search worldwide for hosting facilities that can handle the set up, size and traffic each show commands. Not all cities attract these world-famous shows, but Edmonton is beloved in the industry. “They like our business model,” Baker explains. “We have a very successful operation here and a dedicated group of staff and volunteers. We are one of the most visited tourist attractions in Alberta with over 600,000 attendees in 2013. We average 500,000+ attendees per year. They [the show organisers] like that we are predominate in the community and operationally functional.” Many times the shows select TWoSE, but on occasion, Baker and his team go about attracting an exhibit, as was the case with Body Worlds in 2008. Baker explains, “Ed-

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

monton was the smallest city Body Worlds had ever gone to, but we had the largest market share ever captured. Twenty-seven per cent of the population attended the 2008 show, which remains a record worldwide.” Once TWoSE attracts and signs a show, what goes on behind the scenes is astounding. It can take three weeks to set up a major exhibition and this set up includes a local team from TWoSE as well as staff provided by the show. Star Wars included over 100 kilometres of network wiring to support the massive amount of IT equipment. “It’s like a rock concert,” smiles Baker of the efforts that go on behind the curtain. Edmonton is far from finished when it comes to attracting shows and events. Conference organisers continue to applaud our outstanding venues and accommodations, the City of Edmonton continues to present our city as national player in the event market and TWoSE has an ace up its sleeve for 2014; an archeological show is in the works for October featuring the pop culture of Indiana Jones. We may not be Canada’s biggest city, but when it comes to hosting everything from oil and gas conventions to sporting events to interactive shows, Edmonton is clearly one of the most attractive. BIE

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INVESTING

OPTIMISM PREVAILS

Optimism Prevails The Year 2013 was a year of robust growth for Edmonton. This year promises more of the same and brings a sense of economic optimism and interest in longer term financial planning. BY HEATHER RAMSAY

olicies, rules, regulations, laws, limits, deadlines, submissions and reporting requirements - apply that to finances and investments, and you have a conundrum that daunts most Canadians. Financial planning has long been the ethereal ‘freedom’ that so many think about, know they should do and yet struggle to get on track let alone leverage fully. Albeit global markets have been unsettled, there is a sense of increasing optimism about the state of affairs here at home. According to Investors Group, there was an increase in consumer confidence towards the end of 2013. The index was up for a second consecutive year and feelings relating to shorter term activities are positive. The increase in confidence is encouraging and appears to be spreading. In a report released by Investors Group in December 2013, there is yet mixed feedback regarding the status of financial stability of individuals. One in five reported being in a better financial situation than they were a year prior, and 18 per cent stated their situation had become worse. The ripple of positive consumer confidence was visible as nearly one third of Canadians felt they would be in a better financial situation in a year’s time, and Prairie residents were most optimistic of all when looking ahead to the next five years. Experts in the financial world have long since encouraged others to make concerted efforts to plan their financial future to avoid hardship and be prepared to pending stages of life. Tage Cawley, senior vice president and branch manager at Canaccord Genuity Wealth Management explains that fortitude is key. ‘Financial planning is a long term commitment. Clients

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

have become more conservative with their investments of late, and are looking for more dividend paying products. There has been pick up in blue chip markets as well as interest in TFSAs and international investment. It’s encouraging to see clients looking to diversify and move into real estate and other products,’ explains Cawley. Given that as Canadians we spend on average 124 per cent of what we make, it has become harder and harder for many to make investment contributions. By default most people turn to RRSPS, stocks and bonds, however, with a variety of products available such as Tax-Free Savings accounts (TFSAs) Canadians have increased options when planning their future financial freedom. Kim Moody, director, Canadian tax advisory with Moodys Gartner Tax Law explains that overall 2013 was a busy year tax wise and that the pace will likely increase as greater confidence is gained in various markets. Their firm specializes in Canadian and American tax law and offers advisory services from their offices in Calgary, Edmonton, Vancouver and New York State. The new federal budget brought in a variety of changes and tightening of what many consider to be tax ‘loop holes.’ ‘There has been considerable push for greater transparency in international investments and related taxation, to further discourage tax evasion. An important change of note is that the government has expanded T1135 to include rigorous requirements for complete reporting of international investments. These extensive efforts come with substantial implications if reporting is done incorrectly,’ says Moody. ‘With any investment, no matter what it is or where it is, investors must be diligent in research, un-

INVESTING

OPTIMISM PREVAILS

‘Financial planning is a long term commitment. Clients have become more conservative with their investments of late, and are looking for more dividend paying products. There has been pick up in blue chip markets as well as interest in TFSAs and international investment. It’s encouraging to see clients looking to diversify and move into real estate and other products.’ ~ Tage Cawley

TAGE CAWLEY

derstanding and tracking. Tax and finance are incredibly complex fields of practice and there are inherent risks and consequences for anyone who goes into it haphazardly.’ There are a multitude of considerations to be made when building a personal financial plan including taxation. According to Canadian Tax Law, as long as you follow the rules it is perfectly acceptable to order financial affairs such that you pay as little tax as possible. ‘There are a number of different ways that you can reduce tax burden, and organizing, reporting and filing correctly are critical,’ says Moody. In addition to RRSPs, stocks and bonds, more Canadians are incorporating products such as TFSAs, RESPs, equities and real estate into their portfolio. ‘RRSPs have long stood the test of time and are an important component of tax and investment planning. TFSAs are also another great place to invest. With the recent limit increase to $5,500, it is a clever way to save and can serve as a very helpful tool for entrepreneurs who are looking to reinvest in their business,’ explains Moody. TFSAs were first introduced in 2009 as a new way for Canadians to build assets. The initial annual contribution limit was $5,000 and individuals can have more than one TFSA as long as the contributions don’t exceed the limit. Similar to RRSPs, one can carry forward unused contributions if the limit is not reached in any one year. As with any product, investors do need to be mindful and careful about TFSA rules. For example, over contributing to a TFSA will result in fines and penalties, and taking out numerous withdrawls can have negative tax implications in the future.

When dealing with matters related to financial planning and estate planning, experts offer insight into the following important considerations. • Don’t wait too long to start investing. It’s never too late and you can expand and improve your financial plan as you go. • Don’t let your emotions drive your decisions. • Avoid getting ‘advice’ from friends or Google. Friends and family likely mean well, but everyone has different financial needs, expectations and thresholds. • Complete due diligence. Do the leg work and research options and markets thoroughly. Be sure to read the fine print and seek expertise to ensure you don’t get yourself into trouble. It is far better to be in the know and proactive about your future financial security. • Be cautious about charitable tax shelters. These schemes do still exist and require extensive expertise to navigate. • Don’t lose focus and confidence when markets drop. • Seek professional advice. Don’t assume you know financial planning and tax. Find someone you know and trust, and get along with personally. Ensure your advisor is qualified and someone that you know has your best interests in mind. Looking ahead, industry experts in finance and tax anticipate that markets and activity will continue to slowly improve. ‘There was significant growth in the city and the region last year. Low inflation, plenty of employment opportunities, and economic gains in the U.S. and international markets will continue to bolster traction,’ says Cawley. ‘The pulse and energy in Edmonton are strong.’ BIE www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

DRESS FOR SUCCESS

THE MODERN RULES FOR LOOKING YOUR BEST AT WORK

BY NERISSA MCNAUGHTON

DRESS FOR SUCCESS: 46 February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

DRESS FOR SUCCESS

THE MODERN RULES FOR LOOKING YOUR BEST AT WORK

am Robertson is the founder of The Ladybird Files, a company that mentors individuals and businesses on how to “Be Bold. Be Brave. Be Brilliant™.” With a focus on breaking down personal and professional barriers, presenting yourself as a successful individual and accelerating personal growth, you would expect Dr. Robertson to be a fearless femme, bursting with energy and brimming with inspiration, but this was not always the case. Robertson spent the first years of her company hiding behind the scenes, feeling insecure to personally present the ideals she was trying to sell to others. “I had completed my PhD and set up my business, but I didn’t feel like l had a presence,” she reminisces. “I was unhappy about the fit of my clothes. I like to be comfortable, but I thought that meant all my clothes had to be baggy.” Fed up with the irony of jumpstarting the confidence in others that she lacked in herself, Robertson decided to get a professional makeover and made up her mind to be open and accepting of the suggested changes. Her fears about what changes lay ahead, however, proved groundless. Her stylist, Shirley Borrelli, took her brown hair to a highlighted blonde, introduced her to mineral-based makeup and took her shopping for clothes that were comfortable, but fit Robertson’s body and budget. “The clothes were comfortable and still wash and wear, but more tailored and less wide pants,” smiles Robertson. She [Shirley] taught me how to understand what works on my body.” Following the makeover, Robertson looks and feels younger and is brimming with confidence. As for her business, “I’ve seen a huge change! I’m going out more and I’m comfortable networking. Business has increased 65 per cent because I’m going out and meeting clients.”

THE MODERN RULES FOR LOOKING YOUR BEST AT WORK The workplace has moved from suits, ties and nylons to business causal. Learn how to make business casual work for you.

When you dress for success, you are taken more seriously by your co-workers, bosses and clients; but the rules of dressing for the workplace have changed. Back in the day, a suit and a tie for men and a power suit for women with nylons and pumps were standard. It was easy to mix and match pants and jackets and when you added a serviceable pair of black shoes, your ensemble was complete. As the late ’90s gave way to the new millennium, the workplace relaxed and business casual because a confusing buzzword. Did that mean jeans and a nice shirt? Were bare legs now acceptable? Shirley Borrelli returns to Business in Edmonton magazine (see Beyond Skin Deep, January 2014 issue) to give us the modern rules on dressing for success. “Dressing for success is about selling ourselves first,” Borrelli says to start our image and style education. “Every office has a dress code, whether it is written or unwritten. It’s a standard everyone must follow to fit in and support the brand.” That means whether jeans or slacks are the norm at work, there is still a level to aspire to. That level starts with the first impression. “What is hurting that first impression? Underdressing! No question!” Borrelli’s rule for men include updating their wardrobe. “The number one blooper for men is not having modern clothes. Most are still wearing pleated pants with a polo shirt and chunky-soled shoes. Technically this is business casual, but it’s dated. The translation is that they are stuck in old thinking with old methodology. It gives off an ‘old boys club’ impression. The solution? Borrelli suggests cotton khakis in a slimmer pant with a flat front; and if necessary, change where you shop. “Some stores still sell old clothes,” she says wryly, then she adds, “I get that not all body shapes fit into slimmer styles, but you can still buy updated, current, relevant clothing.” Next for men is the introduction of the third piece. “That third piece says they put in effort, care about looking polished, and gives the impression that they are willing to go the extra mile to get that contract,” says Borrelli. I recommend a blazer (sports jacket). As soon as they get up from the desk, the blazer should go on. Another option is a cardigan for more comfort.” Men can top off the look with a slimmer-soled shoes. “It’s okay to have outside shoes and change into office shoes,” the style guru points out. Borrelli has advice that pertains to both men and women: wear a collar. “Golf courses have known for years that a collar classes things up,” she points out. “The collar could be on the jacket, blazer or shirt. For women, a collar could be created through accessories, such as scarf. (For women, it’s more about a lapel than a collar.)” For women, Borrelli cites the number one mistake is showing off the behind. JLo and Kim Kardashian made the booty on women famous, but in the office, pants that cut under rather than fall from the cheeks is a serious nono. Another sin? Yoga pants. Yoga pants belong in the Yoga studio – not in the office. www.businessinedmonton.com | Business In Edmonton Magazine | February 2014

DRESS FOR SUCCESS

THE MODERN RULES FOR LOOKING YOUR BEST AT WORK

Before

Borrelli warns the ladies, “Absolutely no cleavage in the office. Period. To me that is non-negotiable.” This does not mean larger-chested women have to play down their assets in a turtleneck, especially when high necked shirts do not flatter women with large chests, but the addition of a beautiful camisole or scarf preserves modesty and professionalism when dressing for your body shape. Footwear can make or break a lady’s look. “I recommend a closed-toe pump or to expose only the front or the back of the foot, not both at the same time. If the toes or heel are going to be exposed, they must be pedicured. Period. Nobody wants to look at an ugly foot. The shoe can’t slap the bottom of the heel. No flip flops or any shoe that ‘flops’. It steals the professionalism when shoes make noise on our feet.” The notion that you must be tall, willowy and perfectly proportioned to look good in your clothes is myth Borrelli is happy to destroy. “Make sure the clothing you wear on the bottom and the top are in the same colour family. This gives you the appearance of height and therefore minimizes the appearance of the body. The colour and interest can be added through accessories. “Buy for the troubled area and tailor the rest. For example, 70 per cent of women carry more weight in their hips and thighs than any other body shape. They have a gape in their waist if they find a size that fits their hips and bum. That is when they tailor the waist. If they buy pants that fits their waist, it’s too tight on the hips and bum and looks bad. For men, let’s say he has a belly. If the buttons pull on the belly, go up a size and if the shoulders and neck are

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

After

now too big, get the shoulders and neck tailored. A shirt pulling on the belly is a major faux pas for men.” Ken Stewart, the manager for Edmonton’s north side Mr. Big & Tall agrees with Borrelli. “Tailoring is important because every style is different on every body.” He points out that people should trust the trained sales associates as they know what modifications will make you look smartly dressed while still retaining comfort. Stewart’s business clientele comprises about 30 per cent of his store’s business, and he sees firsthand the confusion brought on by the words “business casual.” “Go to the office two days before you start a job,” Stewart advises. “Find out what the standard is, because ‘business casual’ means something different for everyone. It’s going to differ from the field to the office.” Stewart has a handy rule that applies to both men and women: forget about the numbers. “A lot of men are concerned about the numbers. They tell me they are a 3X, but they are actually a 4X. However, it all fits differently. What may fit in a 2X many fit differently in another garment.” Dressing for success isn’t as structured as it used to be, but today’s rules are not difficult to follow. Keep being professional in mind at all times, show you care about your grooming and appearance by taking care of those little details (ironed clothes, appropriate accessories, manicured nails) and trust the experts and sales associates that are trained to help you. Above all, don’t be afraid to update your look. As Robertson is happy to tell you, what you wear and how you wear it can – and do – make a difference. BIE

50th Anniversary

Mighty

Marmot Basin Canada’s beloved ski hill celebrates 50 years.

By Nerissa McNaughton

t was the late 1920s when Joe Weiss enjoyed an adventurous ski trip along the eastern slope of Marmot Mountain. During this trip he discovered and named Marmot Basin and the rest, as they say, is history. Weiss used Marmot Basin to lead tours of cross-country skiers and to train World War II British soldiers in alpine skills. Marmot Basin’s first major milestone came in the 1950s with the development of an access road. Early skiers did not enjoy today’s easy access to Marmot Basin. In the 50s and 60s, busses and trucks equipped with tracks and runner sleds were used to transport skiers up the road. Skiers, however, are a hardy, practical lot – as proved by Toby Rayner who installed Marmot’s first tow rope using parts from a discarded army truck’s engine. In 1964, Marmot received a licence of occupation from

Parks Canada, which allowed Marmot Basin Ski Lifts Ltd. to start developing the area. Since the 60s, Marmot has been in a constant state of progression with each development allowing for comfort and convenience while never compromising safety and environmental responsibility. “The biggest changes I have seen are in respect to the infrastructure of the mountain,” says Brian Rode, vice president/marketing and sales at Marmot Basin. Two of our newest additions include the Paradise and the Canadian Rockies Express high speed quad chairs. The Canadian Rockies Express is the longest high-speed quad chair in the Rockies and transports skiers to the top of the hill in under eight minutes. “Now, lift lines are almost non-existent,” smiles Rode. “Without having to wait in lines, guests get in lots of skiing.”

Marmot Basin • 50 Years • 1

50th Anniversary

Rode started with Marmot Basin in 1978 and is particularly proud of Marmot’s unspoiled beauty. “Many other areas are purpose-built resorts with condos right at the base of the ski area; Marmot is natural,” he explains. “From Marmot Basin you can look out at the surrounding peaks and into the Athabasca valley and see the same view today as skiers did in the ’50s. We are not littered with unsightly concrete buildings and other commercial trappings usually found at purpose built ski resorts.” Rode goes on to say that while resorts with slope-side accommodation certainly have their time and place, the best features of Marmot Ba-

Congratulations on 50 years!

We are proud to be a part of your success!

sin are the ambience and atmosphere that come with being in Canada’s largest Rocky Mountain national park. “The where makes Marmot special,” he says of the area’s natural beauty that enhances the skiing experience. No decisions are made at Marmot Basin without solemn consideration for the environment as a top priority. From recycling to careful selection of the materials used for infrastructure, the integrity and the beauty of the mountain are well-respected. Another top priority is safety. “We operate under a policy of safety comes first. Risk management policies are paramount.” Safety features include an exceptionally trained ski patrol, night grooming of the trails, and trail closures when necessary. This year Marmot Basin celebrates its 50th anniversary and the festivities to mark this milestone will go on all season long. A series of special deals, contests and events are planned, including a charity masquerade ball. The March 8 ball includes a day on the slopes featuring live entertainment and birthday cake followed by an evening of elegance. A champagne reception, live music, dancing and mysterious masks are just some of the delights this evening of fashion and intrigue will offer, all while raising funds for the charities supported by the Jasper Rotary Club. Tickets for the event can be purchased at the Marmot Sales Center, The Fairmont Jasper Park Lodge or through TicketWeb.ca. Another event planned for the celebration is Marmot’s homecoming weekend. Taking place May 3 and 4, guests

Marmot Basin • 50 Years • 2

50th Anniversary

can expect live entertainment on the hill, visits from Jasper’s notable expats, a barbeque and events in the town of Jasper. To stay current on all the great things planned for the 50th anniversary celebration, bookmark skimarmot.com. Marmot Basin has come a very long way since Weiss led adventure-seekers over the snow in the ’20s, but a few things

trails and

1,675

never change. Marmot Basin is still home to some of the most breathtaking and unspoilt views anywhere in the Canadian Rockies. Marmot has terrain to suit and challenge everyone. Combined with some of the driest powder you will ever experience, it really is a little piece of paradise. Marmot Basin boasts:

acres of skiing and snowboarding terrain

A variety of runs: treed trails in the lower area; high alpine, open bowls and chutes in the upper area Runs that take all skill levels into consideration:

30%

for novices

30 %

for intermediates

20%

for advanced

20 %

for experts

The runs are evenly split on the upper and lower mountain ranges.

2 terrain parks featuring various rail slides, table tops, and jumps 7 lifts: three high speed quad chairs, one quad chair, one triple chair, one double chair, and a magic carpet

30% OFF*

Celebrating 50 years of winter magic in Jasper National Park!

50th Anniversary R

Jasper Inn & Suites The Inn Restaurant

1.800.661.1933

reservations@jasperinn.com

Marmot Basin • 50 Years • 3

*Valid Sunday through Thursday during the 2013/14 winter season. Not available on holidays, Friday or Saturday nights. Must be reserved. Offer subject to room availability.

50th Anniversary

Marmot Basin by the Numbers Season: Mid November to early May Elevations: • Top: 8,570 ft (2, 612 m) • Base: 5, 570 ft (1,698 m) • Vertical Drop: 3,000 ft (914 m) Average Snowfall: 400 cm (160 inches) Average Temperature: • December -11°C (12°F) • January -7°C (19°F) • February -3°C (27°F) • March +1°C (34°F) • April +6° (43°F)

Best View in Jasper |

Canadian Rockies

7 Minute Ride | 2300M Above Sea Level

JasperSkyTram.com

50 Years Congratulations to Marmot Basin

Marmot Basin • 50 Years • 4

It doesn’t get any better than this.

Celebrating 50 Years with Marmot Basin ! Ski for Free in Jasper! Book two nights on the Ski for Free Package and receive two Marmot Basin ski passes and complimentary ski shuttle.

269 *

from per room, per night *Based on double occupancy in a Fairmont Room. Subject to availability, not combinable with any other offer. Two night minimum stay required.

fairmont.com/jasper

Congratulations Marmot Basin!

Special Anniversary Winter and Ski Packages Available!

1.888.8JASPER www.mpljasper.com

Marmot Basin • 50 Years • 5

50th Anniversary

Other amenities include the repair and rental shop that offers state-of-the-art equipment and an on-site nursery that allows parents to enjoy their day at Marmot Basin knowing their little ones are safely having a great time with other children. Skiers also enjoy three day lodges (one at the base area and two at mid-mountain) where they can lounge, dine or

Congratulations to Marmot Basin on 50 Years!

enjoy a meal on the sun decks or bag lunch areas. Of course, no visit to Marmot Basin is complete without a little retail therapy from Outer Limits in the Caribou Chalet! The first 50 years have been a success for Marmot Basin, but Rode knows the best is yet to come. “The sport itself has become so much more accessible to people,” he says of the

CONGRATULATIONS ON 50 YEARS OF SUCCESS!

1-800-282-9919 • www.whistlersinn.com

Marmot Basin • 50 Years • 6

From your friends at

www.integrogroup.com

50th Anniversary

industry’s improved equipment and grooming techniques. Rode is also excited about Marmot’s plans for further development. “Since 2003 over $30 million has been invested in improvements, and we’re not done yet!” Marmot Basin is working on a long-range plan, which includes increasing snow making capabilities, expanding the parking area, improvements to the chalets and so much more. Long-range plans are designed to continually provide guests with the best possible experience on the mountain, now and into the future. For Marmot, there is never a “good enough”. They always have, and always will, strive to give each and every skier and snowboarder the outstanding, natural, exhilarating, experience that they deserve. It is this outlook that attracts skiers to Marmot from all over the world. Marmot Basin offers something for every skier and snowboarder, from novice to expert. Visit this unique location and enjoy the same natural beauty seen by some of Canada’s first skiers. To buy lift tickets, reserve lessons, rent equipment or to purchase gift certificates, visit onlinestore. skimarmot.com or pop into The Marmot Sales Center in

Jasper at 611 Patricia Street. A shuttle bus with multiple pick up and drop off points between Jasper and Marmot is available for the duration of the season, as is parking on the mountain.

50th Anniversary

Box 1300 Jasper, Alberta, Canada T0E 1E0 Phone: 1-780-852-3816 • Toll Free: 1-866-952-3816 Fax: 1-780-852-3533 info@skimarmot.com • skimarmot.com

50th Anniversary

Marmot Basin • 50 Years • 7

50th Anniversary

Marmot Basin • 50 Years • 8

Official Nomination Form

Go Online to www.businessinedmonton.com/lot Submissions Directions: Please complete the application in its entirety. Send the form via fax to 587.520.5701; or scan and email to pat@businessinedmonton.com Eligibility: All nominees must own, be a partner, CEO, or President of a private or public company, and be

a primary stakeholder responsible for the recent performance of the company. In addition, the nominee’s company must be Edmonton and area based and have been in existence for a minimum of three years.

Judging Panel and Criteria: The independent panel of judges will consist of a selection of successful business leaders from the community. The judges will analyze an extensive list of criteria that will include finances, strategic direction, product or service innovation, company leadership (including personal integrity, values and key employee initiatives), community involvement and philanthropic activities. Nominee’s Name: Title:

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THE POWER OF CHOICE

How the strength of our economy impacts our ability to make decisions. BY JAMES CUMMING, PRESIDENT AND CEO OF THE EDMONTON CHAMBER OF COMMERCE @CUMMINGK

JAMES CUMMING

ecently I was at a small social function and the conversation crept into the usual areas – family, politics and travel plans. All of the attendees were long-time residents of the city who are passionate about Edmonton. The question that I posed was, “What do you believe brings people to Edmonton and what has made you stay for the majority of you adult life?” The answers weren’t surprising. Their answers were part of the ongoing discussion we have in our community about our quality of life and what makes Edmonton special. The first thing that came up was that Edmonton has a growing economy that has allowed people to create an income level and savings that provides the opportunity for choices. Those choices could be buying a business, building a business, continuing education, luxury items, and travel amongst other things. It was clear that what has created this environment of choice is our economy, which delivers incomes that allow choices. We may not be coastal, have a tropical climate or be beside the mountains, but we do have a business environment that has created a large middle class. Combined with our excellent income potential is an attitude that you can build something. The 25,000 or so folks that are migrating to our region each year also understand these two ideas. What brings them here is opportunity. The entrepreneurial spirit we have breeds success and encourages risk takers. We also have a spirit of openness and encouragement. Newcomers enjoy being part of a community that allows and encourages participation. Access to community and business leaders does not require extraordinary effort as there is genuine interest and willingness to assist regardless of who you are and what position or business you might have. That sense of welcome and possibility is one of the great social assets of our community. It enables Edmonton business people and residents to build our future as a community. Our economic success is directly linked to the quality of life that brings people here; but, growth is not without

February 2014 | Business In Edmonton Magazine | www.businessinedmonton.com

To sustain our quality of life for years to come we will need continued global demand, supportive policy from all levels of government, and strong postsecondary institutions that produce graduates that meet the demands of today and the potential of tomorrow. detractors. Many argue that we should slow down, stop energy expansion, stop creating additional access to markets, eliminate fossil fuels… it goes on and on. The hard reality is that the globe continues to demonstrate the need for our product and much of the success we have today and into the near future depends on our ability to fill the demand. Our residents can sustain our sense of community and entrepreneurialism. To sustain our quality of life for years to come we will need continued global demand, supportive policy from all levels of government, and strong post-secondary institutions that produce graduates that meet the demands of today and the potential of tomorrow. As a community we need to pursue economic diversification, focusing on the strengths we have built in our region, and there must be thoughtful infrastructure spending that supports growth and competiveness and planning that outlives an election cycle. The secret is out; Edmonton has a sustainable economy, great job market and quality of life. Twenty-five thousand folks didn’t come here because of a slogan, they came here with the hope to build a better economic future and choices for themselves and their families. Our focus needs to be on keeping them here.

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EVENTS

Mayor’s 2014 State of The City Address

Luncheon Wednesday, March 5, 2014 Shaw Conference Centre Hall A/B 9797 Jasper Avenue 11:30 a.m. – 1:30 p.m. Members: $65.00 + GST Non-Members: $85.00 + GST Tables of 10 available

Title Sponsor Y

Mayor Don Iveson CM

Join us for Mayor Don Iveson's inaugural State of the City Address as he looks ahead to a new year and new opportunities for the City of Edmonton.

CMY

Thursday, March 27, 2014 Jubilee Auditorium

15th Annual

11455 - 87 Avenue 5:00 p.m. - 8:00 p.m. Admission (includes GST): Members: $15.00 Non-Members: $20.00 Food & beverage tickets available at the door