Calgary Economy: Top Industries, Biggest Employers, & Business Opportunities
Posted by Justin Havre on Thursday, September 10th, 2020 at 10:20am.
New opportunities await when one chooses to relocate to a new area. As one of Canada's largest cities that offers expensive neighborhoods and affordable communities, Calgary has experienced a consistent population growth for years - so much so that each day, more people consider trusting their fortunes to the bustling city in the province of Alberta. Here's what new residents should know about Calgary's thriving economy.
One of the reasons so many people are moving Northwest is because Calgary's economy is so diverse. Despite the nickname, there is a wide variety of industries waiting inside "Cowtown."
Number of People Employed By Calgary Top Industries
True to its nickname, the agribusiness industry is one of the largest in the city and involves more than farms on the outskirts. Calgary is dedicated to the business of agriculture, including training, research, and development, Additionally, Calgary boasts expertise in futuristic food service trends like protein development, food safety, and Agtech innovation. With the farmland in Alberta reaching more than 50 million acres, Calgary will have a role in the future of agricultural economies.
Much like agriculture, Calgary's energy role grew out of its natural resources. Alberta is the largest oil and natural gas producer in Canada. In recent years, however, Alberta has also developed an affinity for energy alternatives. They are one of the largest solar, wind, geothermal, and bioenergy resources in the country.
Wherever natural resources transactions are taking place, the financial sector will have a role. Accordingly, the financial services sector in the area is also one of its largest industries. They serve everything from high capital transactions, foreign investors, and individuals. Rounding out the industries are creative, digital media, life sciences, and technology.
Top Industries in Calgary
Calgary's Top Employers
People seeking career advancement or entrepreneurial opportunities have many options in Calgary. Because the city offers many industries, there are a wide variety of employers.
The Alberta Securities Commission is a regulatory agency that oversees laws governing securities in Alberta, Canada, and includes exchanges related to mutual funds and natural gas. The staff is directly responsible for taking enforcement actions and registering entities.
As the name indicates, AltaGas is an energy company that supplies utilities to more than a million customers in Canada and the northern US. They also directly supply natural gas to businesses primarily in the Western Canada area. They have more than 2,800 employees and are headquartered in Calgary.
Shaw Communications is a telecommunications company with its headquarters in Calgary. With approximately 15,000 employees working in a variety of roles, this company provides cable and satellite television and high-speed internet to Alberta, British Columbia, Manitoba, and northern Ontario.
Additional Large Companies in Calgary
- Nutrium Inc.
- Shaw Communications Inc.
- Enbridge Inc.
- Suncor Energy Inc.
- Canada Pacific Railway Ltd.
- WestJet Airlines Ltd.
- Canadian Natural Resources Ltd.
- TransCanada Corp.
- ATCO Ltd.
- Imperial Oil Ltd.
Information via Calgary Economic Development.
Calgary's Economy: Facts and Figures
In addition to the availability of many potential employers, Calgary's general economic numbers show a great deal of promise. If these numbers are any indication, the city's climate of prosperity will continue for decades.
Annual GDP per Capita Across Canada
Calgary's GDP is expected to grow at a consistent rate of about 2.2%. Total employment for the region is expected to reach nearly one million individuals by 2025, with an unemployment rate of approximately 6% in the same year. Housing starts are also expected to level off around 10,000 new units within five years, with plenty of new construction homes and infill homes being available for buyers.
Finding a Job in Calgary
Calgary: The City of Opportunity
Calgary is a great city for jobs and entrepreneurial opportunities. There are many growing industries and stable companies that ensure a fulfilling future for the city's residents, paired with an affordable cost of living. Calgary has something for everyone to discover.
If you're looking for the perfect Calgary home, contact Justin Havre of RE/MAX First with Calgary Homes at (403) 217-0003 to get in touch with a local Calgary real estate agent and discover your new dream home today.