Calgary is the largest city in the province of Alberta with a population of 1.47 million.
Full of highly-skilled and available talent, experienced in globally competitive industries, Calgary offers investors exceptional people in a cost-competitive city. Well-known for its affordable real estate, the area also has a history of entrepreneurial success, fuelled by innovative thinking. All of this is available with a superior quality of life and a Rocky Mountain playground in the city’s backyard, which helped Calgary achieve it’s ranking as the most liveable city in North America for five consecutive years.
Calgary has long been known as an energy city, and today is being recognized as a leader in the global energy transition. Alberta is Canada’s largest oil and natural gas producer and is home to the third largest crude oil reserves in the world. The province also boasts some of Canada’s best wind, solar, bioenergy and geothermal resources in the country. Calgary is the epicentre of the energy industry in Canada, with head offices for every major company throughout the energy value chain located in the city. In fact, 71%, or 84 of Calgary’s 118 head officers are energy and oilfield service companies.
Conventional energy and primary resources account for a large portion of Calgary’s GDP but both renewable energy and clean technology are fast growing contributors to the energy sector. The Province of Alberta has procured the cheapest wind power in Canada due to the abundance and quality of the renewable energy resource as well as the strong technical knowledge of the province’s renewable energy companies. The largest solar farm in Canada is under development south of Alberta, and once built will power 100,000 homes with 400 MW of power from 2.5 million photovoltaic solar panels.
Calgary energy entrepreneurs are advancing technology in areas from hydraulic fracturing, thermal oil sands production and pipeline integrity to carbon capture and utilization as well as smart grid and energy storage solutions. Digital transformation is quickly becoming the largest driver of new solutions and technology investments by energy companies. It is forecasted that Calgary’s energy sector will spend $1.9 billion on digital transformation from 2019 to 2022, the most of any sector in the city. This forms part of more than $7.5 billion forecasted to be spent by Calgary businesses on digital transformation from 2019 to 2022, representing a compound annual growth rate of 20%.
While Calgary continues to be a major centre for the global energy industry, the expanding economy has diversified far beyond this traditional strength. Agribusiness, creative industries, aerospace and logistics and life sciences are industries contributing to the city’s economic growth and to its international reputation for innovation.