Calgary life and Calgary business are a dynamic.
There are many reasons why Calgary is consistently ranked as one of Canada’s fastest-growing cities with the biggest and fastest overall population growth in the country, and why Calgary is repeatedly rated among the top livable cities in the world.
Calgary’s quality of life, stability, the environment, affordable housing, downtown development and strong employment opportunities drive economic growth, attract new Calgarians, create new communities and boost Calgary as a world class city to live, work and do business.
The facts, the trends, the stats and the numbers are undisputable. The business of Calgary is a key factor in the city’s success.
No doubt about it, the legendary and positive Calgary stereotype holds true. While the oil and natural gas sectors continue as the primary driver of Calgary wealth and growth, the business of Calgary is diversifying, growing and branching out.
Gung-ho, new business sectors. Technology and data are attracting talent and investment in start-ups, R&D, fintech, software and digital media, adding to Calgary’s reputation as an emerging tech hub. Aerospace. Agribusiness. Energy, Environment and Sustainability. Financial Services. Transportation and Logistics.
Oil, today and tomorrow
Yes! Calgary continues as the well-known “energy capital of Canada.” It’s undisputable. Alberta is Canada’s largest producer of oil and gas. Mining, quarrying, and oil and gas extraction account for the largest proportion of Alberta’s GDP (around 25 per cent of the entire provincial economy) and 44 per cent of Calgary’s total GDP.
Calgary has the second-highest number of corporate headquarters in Canada and is the headquarters of most major energy companies. The decisions and the direction are made in Calgary.
That is significant, because oil and gas (Calgary’s energy sector) still drives the downtown commercial/office market.
Although oil and natural gas are critical cornerstones for the city’s economy, the business of Calgary is also focused on diversification. A subtle strategic shift away from over-reliance on oil and gas, and an energy transition which includes wind, solar and geothermal.
Calgary’s energy sector has always dealt with flux. The most recent jitters are swirling about what last month’s American invasion of Venezuela, and Donald Trump’s bluster about taking over Venezuela’s oil production, could mean for Canada and Calgary.
Industry experts point out that Venezuela does have the world’s largest reserves of oil – the same type of crude which is mainly produced in Alberta. “Heavy oil.”
Could the competition pose a risk for Alberta’s – and Calgary’s – economy? According to a respected oil insider, “There’s no urgency by the American companies to go back into Venezuela. And there’s almost no inducement, other than guaranteeing profitability, which they can’t do. You can sweeten the terms, but the political risk heavily outweighs that variable by a factor of 10.”
Despite some Calgary oil jitters, the consoling caution from oil analysts is that, if it happens at all, it is likely several years, a new American president and tens of billions of American investments away.
Migration and talent
Hey! 1.71 million people (including 140,000 new Calgarians) can’t be wrong!
In the past two years, more than 140,000 people moved to Calgary. Official 2026 census data isn’t out yet, although forecasts suggest Calgary’s metro area population has reached approximately 1.71 million.
For several years, Calgary has been a hot draw for people moving from other provinces (primarily Ontario) and from around the world.
Is it Calgary’s quality of life? Yes. But also, because Calgary has affordable housing, especially compared to other major Canadian cities like Vancouver and Toronto. And because Calgary offers strong job opportunities.
It is a documented fact. Migration is crucial, especially for the business of Calgary. A strong, skilled workforce is important, and demographics do matter! The stats underscore the tremendous plus for business.
Calgary’s talent pool is young, diverse and highly educated. According to StatsCan, Calgary has the highest proportion of working-age people in Canada, with 70 per cent of Calgary’s labour force in the business-appealing, prime productivity years of 25 to 54. The numbers also show that 68 per cent of Calgary’s workforce has a post-secondary education.
Building Calgary
Calgary construction and housing market tell many stories.
Often overlooked, Calgary’s commercial developments and the new home market are good for business. In addition to the housing and commercial space, ‘building Calgary’ creates thousands of jobs in our construction sector.
Billions of dollars’ worth of recent and upcoming downtown projects not only drive economic growth but boost Calgary as a world class city.
The sprawling and exciting Rivers District, including the East Village, is a growing and desirable Calgary live-and-enjoy place. Including the sprawling, modernized Werklund Centre (formerly Arts Commons) which is slated to open in 2028 as Western Canada’s largest arts centre.
The Scotia Place Events Arena will open in time for the Calgary Flames 2027 season.
Three major hotel projects are happening near Scotia Place and the Stampede grounds.
The BMO Centre expansion, opened in 2024, is already getting rave reviews and interest from national and international conventions, conferences, tradeshows and other special events.
Calgary’s real estate re-sale market is a vital factor in business. After several years of demand outpacing supply, the Calgary re-sale market remained an affordable but stubbornly a seller’s market. Last year, according to CREB, housing starts were higher than expected, especially for apartment condominium and rowhomes, with more than 40,000 new listings. The inventory boost allowed many Calgary areas to become a balanced market.
Business-friendly Calgary
Calgary benefits from Alberta having the lowest tax rates and the most business-friendly corporate legislation in Canada.
Alberta has the lowest provincial general corporate tax rate in Canada, translating into a combined general corporate tax rate of 23 per cent (eight per cent provincial and 15 per cent federal). Also, capital gains are taxed at half the rate of ordinary income, as well as several other business sector-specific tax and incentives.
Unlike many other provinces in Canada, Alberta has no provincial sales tax, employer health tax or land transfer tax. And there is extra stability for the business of Calgary. The Alberta Taxpayer Protection Act dictates that a provincial referendum must be held before the provincial tax rate can be increased for individuals or corporations.
Important reasons why Calgary’s “open for business” environment is such a magnet for so many multi-national companies, small businesses and start-ups.