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Or sign-in if you have an account.New Alberta Finance Minister Jason Nixon acknowledges the conversation on possible separation introduces an unstable element into the business climate, but adds a vote can put a stop to it. Darren Makowichuk/Postmedia fileAs Alberta moves closer to a potential binding referendum on separating from Canada, some business leaders say they’re worried the issue threatens to stifle investment at a time when the country is shoring up its economy in the face of external threats.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorOthers want more discussion and debate about the substantive issues of what a vote could mean, saying there are key unanswered questions that need to be addressed.“I’m always of the view that anything that introduces an element of uncertainty to business in the province is not what we need at any time, and especially not now,” said Deborah Yedlin, CEO of the Calgary Chamber of Commerce.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“This is nothing but disruptive,” added George Brookman, chair of digital imaging and print company WCD Inc. and past chair of the Calgary Stampede.“It’s hard on business, all businesses. I think companies looking to invest in Alberta are saying, ‘Is this for real?’ ”Premier Danielle Smith said Albertans will vote this fall on whether the province should remain in the country, or if it should hold a “binding” referendum on independence. Voters will also weigh in on a range of other measures on Oct. 19.The province said the results from October’s vote would not trigger separation, but could start the legal process to holding a binding referendum in the future.The issue has surfaced as Alberta aims to attract billions of dollars of investment into new oil and gas production, develop data centres for large hyperscalers, and grow in flourishing areas such as tech and aviation.Alberta Finance Minister Jason Nixon, who took over the portfolio on Thursday, said the separation issue was already creating uncertainty in the province, prompting campaigns that have collected hundreds of thousands of signatures on both sides.Putting the matter to voters this fall will give Albertans a chance to clearly express their opinions and “bring this to an end in the short term,” said Nixon.“There is no doubt that this conversation creates a situation where uncertainty is in the conversation, (and) money does not like uncertainty and I recognize that,” he said Friday.“The conversation is happening, so we need to, at some point, end that conversation, so that we can provide clarity, not only to Albertans, but to provide clarity to those who want invest capital in our province and into the financial markets.”Business leaders are watching the debate unfold, although opinions are varied on how the vote will influence investment decisions and the provincial economy. Michael Belenkie, chief executive of gas producer Advantage Energy. Azin Ghaffari/Postmedia file“Our roots here are deep. … This will not impact the way we invest within Alberta,” said Michael Belenkie, chief executive of gas producer Advantage Energy.Similarly, Dhruv Gupta, president of the Akash Group of Companies, which builds new homes in Edmonton and Calgary, said the referendum will not influence investment by his company, which also has operations in other provinces.“We think Alberta continues to be the best place to invest and do business, and that’s why almost the entirety of our capital is here,” he said. “For us, this will not make a change.”Brian Schmidt, CEO of mid-sized Alberta petroleum producer Tamarack Valley Energy, noted there are other issues creating uncertainty for the oil and gas industry, including questions surrounding volatile global energy markets and egress.And he said investors in the publicly traded company have not raised the issue with him.“It tells you that they think about it like I do — that there’s a solid minority (in favour), but the likelihood of that happening is remote,” said Schmidt.“There’s a lot of things I worry about, that one (issue) is pretty far down the list.”However, there needs to be some tangible discussions about the financial implications for individual Albertans on the issue, said Jeff Adamson, co-founder and chief commercial officer of Calgary-based fintech firm Neo Financial, which has about 500 employees in the province.“Albertans are getting detailed arguments about the Constitutional case for separation. And personally, I think that they deserve an equally detailed answer about what happens to their CPP, their TFSA (Tax-Free Savings Account), their mortgage — and right now those answers don’t exist,” said Adamson.“Because this is becoming more real, we have to start talking about the things that no one has been talking about.” Jeff Adamson, co-founder and chief commercial officer of Calgary-based fintech firm Neo Financial. Gavin Young/Postmedia fileArlene Dickinson, a longtime entrepreneur and investor, said she understands the frustration and grievances that many Albertans might feel about the way their province has been treated by Ottawa.But she said she rejects the “extremism” that has led to a movement to sever Alberta from the rest of the country.“You don’t burn the house down just because you’re unhappy with the thermostat,” said Dickinson, who lived in Alberta for 65 years but is now based in Toronto.Credit rating agencies are also keeping an eye as the separation debate unfolds.Alberta is expected to be one of the provincial leaders in economic growth this year and that still holds, although the referendum announcement does introduce an element of uncertainty, said Travis Shaw, senior vice-president with Morningstar DBRS.“Because of this elevated political uncertainty, it can cause businesses to take a bit slower approach, or maybe take a pause and wait until some of the dust settles before making those (investment) decisions,” Shaw said.“The growth outlook looks relatively favourable in Alberta. So, I think this is just a potential added element of uncertainty that could dampen that environment, somewhat.”FP West: Energy Insider brings you behind the closed doors of the oilpatch, with exclusive insights from insiders every Wednesday morning. Sign up now. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.