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6000 sq. ft. of architecturally-designed splendor on 8 private acres of paradise Offered at $3,750,000 MLS® C3336078 |
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6000 sq. ft. of architecturally-designed splendor on 8 private acres of paradise Offered at $3,750,000 MLS® C3336078 |
Knowledge Center Economic Boom
| Calgary economic boom |
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| Written by Administrator |
| Thursday, 18 September 2008 13:01 |
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Calgary’s Economic Boom: Calgary has experienced phenomenal growth over the last decade, and is currently Canada’s fastest growing region. The City’s population is 1,107,200, surpassing the one million mark in the last couple of years. The City of Calgary is the North American hub for the Pacific Northwest by road, rail and air and its International Airport is the fourth largest in Canada for passenger traffic and also a major cargo hub. Best known for its flourishing oil and gas industry, Calgary has also used the leverage afforded by this success to create a thriving business and economic environment for many other businesses, including spin-off manufacturing companies and high tech start-ups. Calgary’s employment sector is flourishing with the lowest 10-year (1997-2006) average annual unemployment rate (4.9%) of all major Canadian cities. The Calgary region will generate over 64,000 new jobs over the forecast period of 2006-2011 and will account for approximately 32% of all new jobs in Alberta. This is a strong indicator of a healthy economy and represents an excellent indicator of Calgary as the best investment choice now and in the future. Located just beyond the foothills of the Rocky Mountains, Calgary is the gateway to the world-class resort towns of Banff, Lake Louise and Canmore, where skiing, camping and hiking fuel an active tourist scene. Visitors to Banff National Park were over 5 million in the 1990’s and people continue to flock to Calgary and the surrounding areas for a variety of reasons. Calgary Key Investment Advantages: Calgary has an estimated 6.6% real GDP growth rate, making this city the #1 among G7 countries. The province’s taxation rate is the lowest in Canada and the United States at 5%. Calgary has the highest total labour force growth at 30.2% between 1996 and 2005. Add to this the fact that Calgary has the highest concentration of head office employment in Canada: it has increased by 37.2% from 2001 to 2005. This makes Calgary the city with the most head offices per capita. Calgary is an international oil and gas centre: most Canadian oil and gas production companies, pipeline operators, oilfield service and drilling companies, energy related engineering and consulting firms are located here. It is the headquarters for major oil and oilfield service sector corporations including: TransCanada Corporation, Enbridge, Terasen Pipelines, Alliance Pipelines, EnCana, Petro Canada, Husky and Nexen, among others. Diversification of industry is also important to Calgarians and proof of this is the fact that this city houses the largest number of technology start-ups per capita in Canada. There are over 55,000 employees in 2,400 high tech companies in Calgary and 8 out of the top 10 fastest growing R&D spenders were in technology: 70% of total R&D expenditures. Calgarians are forward-looking and constantly strive to link their economic prospects and profits to the future of technological innovations. The Calgary manufacturing industry is also booming in plastics, metal fabrication, machinery, packaging and building materials. Calgary is a popular film production destination due to its varying geography: $130 million was spent and invested in filmmaking activities during 2004. The Calgary sector strengths are as follows: Energy (oil & gas, electricity, coal, alternatives), Technology, Manufacturing, Financial and Business Services, Transportation and Logistics and Film and Creative Industries. |
