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Calgary Boom
Calgary Boom
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Calgary is experiencing mass inter-provincial immigration as Canadians move to the city looking for work. These new residents are well aware that Calgary has the highest employment rate in Canada and coupled with the lowest tax rates and a top-notch quality of life is why Calgary’s economy continues to thrive. Families and businesses alike are choosing this city as the place to be – and for good reason. As the fifth largest city in Canada, Calgary is home to many corporate head offices; and businesses here are competitive, global players. The Athabasca oil sands, which are the secondlargest oil reserves in the world – have greatly benefited an economy already focused on natural resources. According to Calgary Economic Development, thousands of Albertan companies export approximately $55 billion to over 150 countries and create 500,000 jobs each year. Such a strong economy has produced the highest personal income per capita in the country. More money in the hands of Albertans means more money spent in the local economy. As of March 31, 2005, Alberta became debt free, this translates into long-term effects on generations to come if the savings from annual debt servicing costs can been re-invested in areas important to Albertans, such as health care, education and tax cuts. However, strong economic outlook aside, the first thing that newcomers to Calgary notice is the people. It seems as though Calgary has not lost its small-town attitude with friendly, outgoing and innovative residents. This allows for interesting city initiatives, such as imagineCalgary—a plan that allows Calgarians input into their city’s 100-year plan. This attitude crosses over to the business community, resulting in progressive business leadership. Business training from the University of Calgary’s Haskayne School of Business together with the ICD Corporate Governance College and the University of Toronto’s Joseph L. Rotman School of Management, have partnered to provide training and development for Calgary Directors on corporate boards. This forward thinking keeps Calgary ahead of the curve in areas of corporate governance and corporate social responsibility. Quality of life is measured in balances, and the Alberta government is ensuring that this balance between work and play continues to be a focus in Calgary. In addition to numerous leisure activities within the city, Calgary is only a short drive away from the mountains where Calgarians can escape to enjoy the outdoors. Another selling feature of Calgary is the well-established post-secondary infrastructure; a bonus for those with families and a proven method of ensuring the local business community is supplied with a young, eager workforce. Quoting Derek Burleton, Senior Economist at the TD Bank Financial Group, “Calgary is a magnet for young, mobile, highly skilled workers across Canada.” With all the positive aspects of a city thriving economically, all signs point to the trend continuing. Attracting a young talent pool of skilled workers and their families, and new and established businesses, will depict Calgary as the place to live, work and play in Canada for many years to come. |
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