Updated for 2023
What are the top Calgary industries leading the city’s 2023 economic development? For the last few years, much of the local economic news has been filled with the effects of the COVID-19 pandemic. The Conference Board of Canada reported that the province of Alberta took a massive hit during the pandemic, with the most damaging effects due to the pandemic and declining global oil prices. Calgary is the largest city in Alberta, the city and the surrounding region will experience these adverse effects.
However, the population of the Calgary Metropolitan Region exceeds 1.2 million residents. As a result, both the city and the region are positioned well for significant future growth. Before the pandemic, this year was projected to be Alberta’s first year of full economic recovery.
Top Calgary Industries
According to Calgary Economic Development, 8 Key Sectors drive Calgary and Alberta’s economy. Each sector, in turn, helps Calgary industries to grow with investments and jobs.
1. Aerospace & Logistics
Calgary is home to one of Canada’s busiest airports. Also, one of the nation’s major airlines is in the city. Several Calgary companies are focused on commercializing aerospace technologies such as drones. Aerium Analytics provides Unmanned Aerial Vehicle (UAV) flight and analytics to address issues such as airport wildlife management, building inspections, and forestry management.
2. Agribusiness
Agribusiness is one of the top Calgary industries. This sector is poised to be the fastest-growing adopter of several transformative digital technologies. Spending on these technologies is expected to increase by 23% from 2019-2022. Decisive Farming focuses on precision agronomy, farm management, and crop marketing with services and technologies.
3. Creative Top Calgary Industries
The Calgary Film Centre is located just 25 minutes from the city’s airport. The Centre includes:
- 50,000 square feet of studios
- 25,000 square feet of warehouses/workshops
- Anchor tenant: William F. White International Inc. (renting motion picture equipment)
4. Energy
The energy sector represents a significant portion of the top Calgary industries. Clean technologies include those that derive from solar, wind, bioenergy, and geothermal sources. Calgary industries focusing on energy are the most well-known in the city. Alberta is Canada’s largest producer of natural gas and oil. Over 70% of the province’s CleanTech company headquarters are in Calgary.
5. Financial Services
What is FinTech? This term describes the use of new technology to improve and further automate both the delivery and use of financial services. It may also include concepts such as cryptocurrencies like bitcoin. Companies like Bitfury are leading the effort in implementing blockchain technology and artificial intelligence solutions.
6. Interactive Digital Media
Over 60 companies in Calgary produce video games and/or immersive media products. The Calgary Game Developers Association has over 800 members and represents a strong talent pool.
7. Life Sciences Top Calgary Industries
There are over 110 life science companies in Calgary, making for a sizable segment of the top Calgary industries. Oncolytics Biotech Inc. is developing an immuno-oncolytic virus to kill cancer. The Calgary Cancer Centre is scheduled to open in 2023. The centre will increase capacity and add to Calgary’s leading role in cancer services.
8. Technology
Calgary businesses are projected to spend $7.5B on digital transformation (DX) from 2019-2023, representing a 20% compound annual growth rate. What is DX? DX refers to applying new technologies to change work processes and customer experiences and enhance value. It’s not just making current technologies work better in a defined process. It uses new technologies to change the function and gain advantages through innovation and disruption.
What Should Employers in the Top Calgary Industries Do?
Employers in the top Calgary industries should examine their employment needs as economic growth fosters competition for job seekers with requisite skills and training. They should review their relocation program to determine if it benefits their talent acquisition goals and corporate objectives. Employers should work with a Relocation Management Company with the knowledge and expertise to help them design a relocation program promoting talent acquisition.
GMS has recently published several Industry Benchmarking Studies to help employers in the top Calgary industries learn whether their company’s relocation program is designed following industry-specific best practices. There are many benefits to a corporate relocation policy benchmarking. For example, employers can learn how they can ensure their competitiveness in their industry to attract and retain talent with the highest level of skills and experience.
Industry best practice is to schedule a relocation program and policy review every 12 to 18 months to ensure your company maintains its competitive position. This review will also help your company learn how the relocation industry is evolving to meet increased employee demands.
Stay up-to-date with GMs
GMS’ team of global relocation experts has helped thousands of our clients develop hiring and recruiting programs to attract highly skilled job seekers. Our team can help your company determine how to attract job seekers looking for employment opportunities in any of the top Calgary industries.
GMS was the first relocation company to register as a .com. The company also created the first online interactive tools and calculators and revolutionized the entire relocation industry. GMS continues to set the industry pace as the pioneer in innovation and technology solutions with its proprietary MyRelocation® technology platform.
Contact our experts online to discuss your company’s recruiting, hiring, and relocation program needs as they relate to the top Calgary industries, or give us a call at 800.617.1904 or 480.922.0700 today.
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Tamara Molino | CRP, GMS
Vice President, Global Services Tammy is responsible for GMS’ regional operations teams in North and Latin America, EMEA, and APAC. Tammy provides over 14 years of leadership experience in the areas of international assignment management, global network management, global consulting and business development. Her experience in global mobility includes new client implementations, policy and compliance development, global compensation and billing, vendor management, case management, and real estate home sale/purchase programs. Tammy travels extensively and studied abroad in Switzerland, Chile, Peru, Dubai and Abu Dhabi.
