The result of the Oct. 21 federal election — which saw the Liberals retain power, but in a minority government — is a wake-up call for Olds and area residents to look for ways to diversify the local economy so we're not so dependent on oil and gas for jobs and prosperity, Olds & District Chamber of Commerce president Mark Johnson says.
He said the future of the Trans Mountain pipeline expansion project is in doubt, now that Prime Minister Justin Trudeau may need the support of the NDP, the Bloc or other parties that are opposed to the project in order for his government to survive.
However, on Wednesday, Trudeau told reporters that he still plans to see that project — which would expand the pipeline's capacity to move oil from Alberta to the B.C. coast for export — completed.
"I think we have to start to really focus on what we can do and less on what we can't do. What are the opportunities," Johnson asked during an interview with the Albertan.
Johnson noted agriculture is the no. 2 industry in Alberta, behind oil and gas.
He said one idea would be to work with Olds College and its smart ag program to develop new ag-related high-tech firms and industries that could be based here in Olds.
For example, he suggested there might be a way for Olds College and entrepreneurs to work together to create inventions and businesses involving artificial intelligence to improve agricultural efficiency .
"Because of being in Olds -- Olds O-NET, Olds Fibre, we have a huge opportunity in tying in Olds College and smart ag — their smart ag programs — how do we expand things like AI (artificial intelligence) and robotics here," he asked.
Last year, Olds College and Calgary Economic Development signed a memorandum of understanding to establish the Calgary-Olds Smart Agri-Food Corridor, which they described as the leading smart agri-food corridor in the country.
Olds College president Stuart Cullum said it would help attract new startup companies and jobs to the area.
Johnson said that corridor could be part of the solution.
Noting Olds has attracted marijuana production businesses, Johnson suggested local firms could work with hemp from cannabis to create other value-added products.
"It can be used for building products, it can be incorporated as fibre into creating materials, cloths, that type of thing," he said.
He said another possibility might be to use recycled materials to create other products.
"There was a really interesting article from New Zealand where they're taking some of those tougher-to-recycle plastics and turning them into plastic fence posts. Olds has a really good manufacturing base here. Is that something we can expand on? Is that something we can bring to Canada," he asked.
Johnson said local entrepreneurs should also take advantage of the potential of O-NET, the locally owned and operated internet, phone and TV business, to create locally-based businesses that work with other businesses around the world.
He said the chamber could perhaps spur some of those connections and foster startup companies by holding more lunch and learn speeches and seminars where business people and entrepreneurs could make connections with each other.
