Preparing for Changes that would occur as the economy evolves
Leverage the “Calgary in the New Economy” strategy and align decision-making priorities
Calgary Economic Development is collaborating with The City, partners and industry to create an environment where businesses, innovation and communities can thrive. The vision is for Calgary to be the city of choice in Canada for entrepreneurs who are embracing advanced technology to solve the world’s greatest challenges: cleaner energy, safe and secure food, efficient movement of goods and people, and better health solutions. Calgary in the New Economy emphasizes the pillars of Talent, Innovation, Place and Business Environment, taking a holistic approach to economic diversification and growth. This includes efforts to attract investment into the downtown core. Significant progress and achievements include:
- $2.2 million saved in business costs from The City of Calgary COVID-19 Relief Package including waived and deferred Planning & Development fees, property tax relief, Business Improvement Area tax relief, and deferral of waste, water, and recycling charges.
- Calgary was identified as a national leader in 5G readiness and preparedness, compared with peer cities in Canada, and is working with wireless service providers and other organizations to create a digital zone downtown to test and pilot new technologies.
- Calgary became the first city in North America to permit mass testing of unmanned aerial vehicles beyond line of sight.
- Calgary attracted $353 million in venture capital investment in local companies in 2020, led by the technology sector with over 33 deals, double the amount in 2019.
- Use of The City’s online permitting services increased 43 per cent from 2019, reducing the time and effort required to apply and receive required permits to start a business.
- Calgary was one of the first locations to reopen for filming and, through close partnership with The City of Calgary in permitting projects, conducted $90 million in film production in 2020. Calgary ranked 10th across North America as one of the 2021 Best Places to Live and Work as a moviemaker by MovieMaker Magazine.
- Calgary is an emerging centre for innovation in aerospace and logistics technology. YYC Calgary International Airport saw an 11 per cent increase in air cargo landings from 2019 to 2020; was one of only four airports open during COVID-19 and continued to lead the country in connecting flights (43 per cent of passengers are connecting).
- The Southern Alberta Institute of Technology announced a $30 million investment into a School for Advanced Digital Transformation. Opportunity Calgary Investment Fund invested $8.2 million of $19.8 million to create a downtown Digital Transformation Tech Hub to enable building foundational competencies for digital transformation in traditional industries.
- A new study estimated Calgary’s investment in technology and services that will enable a digital transformation of business practices, products and services will be $7.5 billion by 2022.
Visit calgaryeconomicdevelopment.com to learn more.
readiness and preparedness
in venture capital investment