As we step further into 2018, business confidence in Alberta is the highest it’s been since the economic downturn hit.
A new study by the Business Development Bank of Canada says investment will be strong in the coming months.
BDC Chief Economist Pierre Cléroux said 2017 was a year of growth, and companies are looking to continue that recovery.
“There’s a shift in the investment pattern. Businesses are investing more in technology, in employee training, than they are investing in equipment and buildings,” he said.
But employee training doesn’t necessarily mean hiring.
Cléroux said the minimum wage hike may mean less of a focus on labour.
“As a business owner, you hire people, you invest in technology and that’s basically what you have to produce something. If the cost of labour is increasing, well, it’s an incentive to invest more in your capital, or technology,” he said.
The BDC predicts Alberta, B.C. and Quebec will lead the country in terms of investment in 2018.
