Embracing the disruptive innovation transforming the world is the impetus to create enduring prosperity in Calgary in the New Economy, the city’s new economic strategy, unveiled today at Calgary Economic Development’s annual Economic Outlook forecast.
Calgary in the New Economy is the latest version of the strategy that has continuously evolved since the initial plan was created in 2008 and updated in 2014.
Calgary in the New Economy focuses on the drivers of economic growth – Talent, Innovation, Place and a Business Friendly environment. Our objective: “To be the city of choice in Canada for the world’s best entrepreneurs. We embrace innovation to create solutions to the world’s greatest needs; food, energy, transportation and health.”
The Strategy, which was approved by City Council in June, is the culmination of more than a year of work that engaged over 1,800 Calgarians from business, education, civic groups and social agencies, as well as everyday citizens.
“This Strategy is about embracing the opportunities in front of us,” said Calgary Mayor Naheed Nenshi. “We are actively building a new economy in Calgary and this strategy lays out the roadmap to help us get there.”
Calgary Economic Development takes a lead role in developing and implementing the Strategy that is intended to serve as a guiding document for everyone who contributes to economic development in Calgary.
“This Strategy is built around the fundamentals we need to catch the next wave of growth. It’s all about rounding out our talent, strengthening our innovation ecosystem, having the best business environment in the country, and being a place people where want to live,” said Steve Allan, Executive Chair of Calgary Economic Development and Co-Chair of the Leadership and Implementation Team for the Strategy.
There are specific tactics, timelines for implementation and key performance metrics in each of the four areas of focus in the Strategy. The intention is to embrace the disruptive technological innovation in our established industries – energy, agribusiness, transportation and logistics – as well as emerging sectors; life sciences and health, creative industries, financial services and tourism.
“We purposefully changed the focus of the Strategy to be centred around the fundamental drivers of prosperity as our economy evolves rapidly in this period of unprecedented technological innovation globally,” said Adam Waterous, CEO of Waterous Energy Fund, Chair of the CEO Task Force, and Co-Chair of the Leadership and Implementation Team. “Calgary led this country in growth for the last 20 years and if we implement this Strategy correctly, we will lead it for the next 20.”
The Strategy was released today in conjunction with Calgary Economic Development’s annual Economic Outlook forecast at the TELUS Calgary Convention Centre. More information about Calgary in the New Economy is available here.