Economic Powerhouse

From the Energy Capital of Canada to a Global Tech Hub

The Energy Capital of Canada

Calgary's modern economy was built on energy. Following the historic discovery of oil at Leduc, Alberta in 1947, Calgary emerged as the undisputed energy capital of Canada. Thanks to its existing rail infrastructure and aggressively pro-business climate, the city quickly became the headquarters for hundreds of oil and gas companies, earning the nickname "Canada's Oil City."

Today, Calgary is home to more than 900 energy-related firms and boasts the highest concentration of corporate head offices per capita in Canada. Major energy companies including Suncor Energy, Canadian Natural Resources Limited (CNRL), Cenovus Energy, and Imperial Oil all call the YYC downtown core home.

A Diversifying Economy

Recognizing the cyclical nature of the oil and gas industry, Calgary has invested heavily in developing other vital sectors to future-proof its economy.

💻 Technology & Innovation

A rapidly growing tech sector focusing on cleantech, artificial intelligence, enterprise software, and fintech. The city has become a major destination for tech startups and massive investments from global tech giants.

📈 Financial Services

As the wealth management capital of Western Canada, Calgary is one of the country's major financial centers, supporting the massive capital requirements of the energy and tech sectors.

🎬 Film & Creative Industries

Dubbed "Hollywood North," Calgary and its surrounding landscapes frequently host major film and television productions, including blockbusters like The Last of Us, Fargo, and Ghostbusters: Afterlife.

🌾 Agribusiness

Surrounded by the vast Canadian prairies, Calgary serves as the strategic headquarters for major agricultural companies, driving innovations in global food supply and AgTech.

The Rise of Tech in YYC

Growth of Active Tech Startups in Calgary (2018 - 2022)

125
2018
215
2019
340
2020
485
2021
650+
2022

*Estimated active tech startups showcasing the city's explosive pivot to digital innovation.

Business-Friendly Environment

  • Low Taxes: Alberta is the only province with no provincial sales tax (PST) and maintains highly competitive corporate tax rates.
  • Skilled Workforce: Calgary has a highly educated population, with over 40% of adults holding university degrees, particularly in engineering and business.
  • Quality of Life: A high standard of living paired with affordable housing compared to other major Canadian cities like Toronto or Vancouver.
  • Infrastructure: Modern facilities, a rapidly expanding LRT network, and excellent global transportation links via YYC International Airport.

Fast Economic Facts

  • GDP: Calgary's metropolitan GDP exceeds $100 billion CAD.
  • Income: The median household income is consistently among the highest in Canada.
  • Head Offices: Over 120 corporate head offices per 100,000 residents.
  • Entrepreneurship: Calgary boasts an incredibly high rate of business formation and startup activity per capita.

The Future Economy

Calgary is positioning itself as a global leader in the energy transition. By combining its traditional, world-class oil and gas engineering expertise with clean technology innovation, the city aims to become the definitive global hub for carbon capture, hydrogen energy, and renewable technologies—all while maintaining the strong, entrepreneurial pioneer spirit that built the city.