Key points

• Yesterday, more than 2,000 business and community leaders gathered at Calgary Economic Development’s annual event at a pivotal moment for the economy.
• Discussions included navigating trade headwinds, geopolitical disruptions, and referendum uncertainty while capitalizing on Canada's core resource and human capital strengths.
• I discussed how Alberta and Calgary continue to build momentum as a dual engine, driving growth across both the energy sector and a diversified base that includes everything from aviation and logistics to food processing and petrochemicals.

I had the pleasure of speaking yesterday (for the fourth consecutive year!) at the 2027 Calgary Economic Outlook event hosted by Calgary Economic Development. Over 2,000 business and community leaders gathered at the BMO Centre to discuss the economic forces shaping Calgary and Alberta for the year ahead.

Fellow speakers included Premier Danielle Smith, former Premier Jason Kenney, Calgary Mayor Jeromy Farkas, and Brad Parry, President and CEO of Calgary Economic Development. The session also featured a panel with Jen Gerson, co-founder of The Line, Candace Laing, President and CEO of the Canadian Chamber of Commerce, Martha Hall Findlay, Director of the School of Public Policy at the University of Calgary, and Sandi Gilbert, CEO of InterGen.

The central topic of the day was fitting with the theme of our recent economic outlook: meeting the moment. Canada has a unique opportunity right now, one that fits our natural economic strengths. The world is looking to Canada for reliable and safe access to resources, and the country is looking west to Alberta as the engine to power that opportunity.

Whether Calgary, Alberta and Canada meet this moment comes down to moving faster and thinking bigger. Unlocking our full potential requires accelerating project approvals and encouraging business investment. And as the panel noted, Alberta brings a distinct "get 'er done" attitude to that challenge.

Here are some key themes I picked up from the event.

Will both engines fire at once?

Over the last few years Calgary—and Alberta more broadly—has diversified its economy alongside its oil and gas industry. Sectors such as primary agriculture, tourism, alternative energy, aviation, food processing, and technology have contributed to Alberta’s growth in recent years.

The broader question I posed is: Can both engines fire at once? What if new pipeline projects, like the Pacific Link proceed, creating a new wave of growth for the oil and gas sector and at the same time the diversification gains that we’ve observed thus far continue? This is the upside in our forecast that we haven’t fully factored in.

Technology plays an important role in the broader diversification story. In my presentation, I highlighted Calgary’s especially strong momentum in job creation and technology expansion. Between 2022 and 2025, Calgary expanded its tech talent workforce by 56 per cent, ranking first among major North American markets—more than double the growth rate of Toronto over the same period, while pacing ahead of major tech hubs like Dallas and Seattle.

Building the talent pipeline

As mentioned in Monday's Twenty-Four, labour remains a central piece of the puzzle. As Alberta moves forward to meet the moment, a key question continually came up during the event: do we have a sufficient supply of skilled labour to support this next phase of growth?

Matching people to the right opportunities is essential to address youth underemployment and build long-term capacity to meet Alberta’s potential. Programs like Calgary Economic Development’s TalentED Greater Calgary are helping bridge local skills gaps to match new talent with high-demand trade and technical roles. Continued investment in attracting, training and retaining skilled workers will be vital.

Time to walk the talk

Calgary sits in a unique position to help lead this effort. With a dual engine of world-class energy expertise and a growing tech workforce, the city has built the foundation needed to compete on the global stage.

The focus now is on turning that momentum into execution. Accelerating local innovation, cutting through regulatory delays, and attracting and matching talent to high-demand roles will ensure we do not just recognize this opportunity, but turn it into lasting growth.

Confronting economic headwinds like inflation, trade friction, and geopolitical uncertainty won’t happen overnight. Even so, Alberta enters 2027 in a position of relative strength. The world wants what Canada produces, and if recent policy signals turn into actual project approvals and business investment, there is substantial upside ahead for Calgary, Alberta and Canada.

Answer to the previous trivia question: In 1992, the Government of Canada designated October as Women’s History Month.

Today’s trivia question: What does Persons Day (October 18) commemorate?