Calgary has made ‘quantum leaps’ in tech, but adaptation must continue: CED

With the prospect of the energy sector not having the same economic impact as in decades past for Alberta, the head of Calgary Economic Development says the city has job creators have to continue to adapt to a changing fiscal landscape.

“We have a little adapting to do,” Mary Moran said after a joint presentation to a Calgary audience with the Conference Board of Canada and ATB Financial.

Moran said that mostly has to do with technological advancements we have to get more comfortable dealing with uncertainty.

“Advancements that are in our face, not happening down the road, they’re happening today,” she said. “GDP growth and job growth will come from a different place and so we have to make sure that we’re set up.”

But Moran said there’s good news in recent history.

“Compared to a year ago, I think we’ve made quantum leaps,” she said, pointing to some of the economic success she outlined in her presentation, such as CED helping support around 90 businesses in the last two years, creating approximately 5,000 jobs.

Recent successes have included Amazon announcing it’ll be building a fulfillment centre in Balzac that will create 750 jobs, as well as companies like RocketSpace, a California-based tech firm setting up a local branch.

But she also said while there’s plenty of private wealth in the city, conditions have to be ripe for private investment and attracting capital, which the Conference Board of Canada agrees with.

The board’s senior fellow Glen Hodgson said while Calgary’s economy will grow by 4.6 per cent this year and 2.1 next year, he’s keeping a close eye on if there will be a certain kind of balance.

“This year it’s way too much the consumer [spending], not enough private investment, next year I’m looking for more,” he said.

As for the big fish of Amazon picking Calgary as its second headquarters, Moran denies the notion Calgary doesn’t have much of a chance.

“I hear it all,” she said. “We do have a shot.

“If it comes down to cost and it comes down to having the right talent, then we have a really, really chance.”