Business, government and public policy leaders examined the forces shaping Calgary and Alberta’s economy at Calgary Economic Development’s 2027 Economic Outlook, powered by ATB Financial, on Oct. 6, 2026. An event replay will be available on our YouTube channel.
Calgary and Alberta are heading into 2027 with strong economic momentum and a significant pipeline of investment opportunities, but uncertainty around Alberta separatism, trade and geopolitics is complicating business decisions.
A sold-out crowd of more than 2,000 members of Calgary’s business community gathered at the BMO Centre for Calgary Economic Development’s 2027 Economic Outlook, powered by ATB Financial, to hear from an economist, political leaders and business experts on the forces shaping the year ahead.
Across the program, speakers noted that Calgary has a significant opportunity to compete for global investment, but confidence, competitiveness and certainty will be critical to capturing it.
“Calgary has worked hard to build an economy that is more diversified, resilient and globally competitive, but the threat of separatism undermines that momentum,” said Calgary Mayor Jeromy Farkas.
“The opportunities available to Calgarians today, and those of the generations to come, will be shaped by our ability to inspire investor confidence, attract investment and continue building a city where we are welcoming and embrace new people and new ideas.”
That focus on keeping Calgary competitive is also at the heart of Uplook: An Action Plan for Our Economy, Calgary’s long-term economic action plan focused on talent, livability, the business environment, innovation and the city’s global brand.
Alberta enters 2027 with economic momentum
Keynote speakers Mark Parsons, Vice President and Chief Economist at ATB Financial, and the Hon. Jason Kenney, former Premier of Alberta, offered economic and political perspectives on the forces shaping Alberta’s outlook.
ATB Financial forecasts Alberta’s real GDP will grow 2.6 per cent in 2026 and 2.3 per cent in 2027, ahead of projected national growth of 0.9 per cent and 1.5 per cent, respectively.
Parsons said Alberta continues to weather global turbulence better than many jurisdictions, supported by strong energy fundamentals, expanding market access and a relatively lighter overall tariff burden.
“Alberta continues to weather global turbulence better than most, supported by strong energy fundamentals, expanding market access and a lighter overall tariff burden than the national average,” said Parsons.
“The world wants safe, reliable resources, and if we can navigate current uncertainties to advance major infrastructure — such as the Pacific Link pipeline — there is substantial upside for both Calgary and Alberta.”
Kenney placed that outlook in a broader political and investment context, pointing to both the opportunities ahead and the importance of stability.
“There are plenty of reasons for optimism for the Calgary and Alberta economies. With multiple major projects in the works, we may be soon facing the challenges of managing growth, which will require thoughtful planning,” said Kenney, now a senior advisor at Bennett Jones LLP and BMO.
“One way we can achieve that enormous potential is by demonstrating political stability and an openness to Canada and the world.”
Alberta is also attracting significant investor interest. At the Canada Investment Summit, the province had 27 opportunities valued at nearly $100 billion in the federal investment deal book, many aligned with Calgary’s strengths in energy, technology, transportation and logistics, defence and advanced manufacturing.
Calgary’s opportunity is now
Calgary Economic Development President and CEO Brad Parry said one of the clearest signals from international investors is that Canada is increasingly being seen as a stable, trusted market with the resources, talent and expertise needed to power future growth.
“The world is looking to Canada. Our nation is looking west. And Alberta is key to that opportunity,” said Parry, who is also CEO of the Opportunity Calgary Investment Fund.
He said conversations with investors at the Canada Investment Summit reinforced both the scale of the opportunity and the need for Canada to move faster on investment, infrastructure and major projects.
But capital is mobile, and Parry said stability and certainty remain critical to where it ultimately lands.
“That’s why the debate about unity isn’t an abstract political conversation. It carries real economic consequences for us now, and more importantly for the generations to come,” he said.
Rather than focusing only on the potential costs of separation, Parry urged Calgarians to also consider what Alberta stands to gain by building on its current momentum within Canada.
He pointed to growth across energy, aerospace, agriculture, quantum technologies, defence, advanced manufacturing and technology, alongside major projects such as Prairie Economic Gateway.
Talent will also be central to capturing that growth, particularly as the nation targets attracting $1 trillion of investment in the next five years. Parry said investors consistently ask whether Calgary and Canada have the skilled workforce needed to support new investment and expansion.
“The message we need to send is that we remain a welcoming Blue Sky city for anyone who is willing to help us build our future,” he said. “At the end of the day, an economy is only as strong as its workforce.”
What uncertainty means for business
A panel moderated by Jen Gerson, co-founder of The Line, brought together 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 James S. and Barbara A. Palmer Chair in Public Policy; and Sandi Gilbert, CEO of InterGen.
The discussion examined what is helping — and hindering — Canada’s ability to compete for investment, talent and growth, and what those forces could mean for Calgary and Alberta.
“Alberta could do itself a real benefit by taking on that mantle of engaging with the rest of the country," said Hall-Findlay.
"If we can see where opportunities lie, let’s figure out with the rest of the country how we can build on that together. And if we can do that, that’ll help Alberta.”
That call for closer collaboration came amid concern that uncertainty surrounding the referendum is already influencing investment decisions, before Albertans had even cast their ballots.
“It’s not like, ‘Let’s see what happens later this month and then assess the impact.’ We’re living the impact already,” said Laing. “There will be a long tail to that.”
Laing said that impact has already travelled well beyond provincial and even national borders.
"Trading partners are telling us, 'Yes, we’re delaying decisions because of what’s happening,'" said Laing.
Gilbert offered a more immediate way to strengthen the outlook, pointing to the role Calgary’s business community can play in helping local companies grow.
“For the people in this room,” said Gilbert, “bring your investment dollars, your board experience, your connections to our tech sector — buy their products and services. Once we start doing that, we’re going to grow companies here, and that’s a good thing.”
Competing in a changing global economy
Alberta Premier Danielle Smith highlighted Calgary's growth and economic health, reminding the audience of recent provincial investments across education, health care, infrastructure, defence and more.
The premier emphasized that that momentum is dependent on Alberta remaining within a united Canada.
"I'm going to keep on working to try to convince Albertans that Canada can work and hopefully win more over to that point of view," Smith said.
"I would put it to you that the fight to make Canada work for Alberta is producing results. When Alberta stood up and spoke out and refused to back down, the rest of the country started listening, and that's why I believe our best days are still ahead."
Calgarians and Albertans have reasons to believe
Parry urged supporters of a united Canada to make a forward-looking case.
“We can’t keep bringing a data knife to an emotional gunfight,” said Parry on the rhetoric around the consequential decision Albertans face at the ballot box.
“It’s time to change the messaging and flip the script from talking about the economic costs of separation, to talking about what we stand to gain by being united and seizing the opportunities ahead of us."
Those opportunities are being reinforced by major investments, including construction on the southeast segment of Calgary’s Green Line and the approximately 2,200-acre Prairie Economic Gateway, which could generate more than $7 billion in economic activity and create more than 30,000 jobs over the next 10 to 12 years.
Federal investments in defence capabilities and domestic supply chains are also creating opportunities for Alberta companies in aerospace, advanced manufacturing, quantum technologies, cybersecurity and dual-use innovation.
For Parry, the task now is to turn that momentum into long-term prosperity.
“Investors want to invest here. Companies want to build here. People want to live here,” he said.
“Moments like this don’t come around often. And we can’t afford to squander what could be one of the most important economic opportunities of our lifetime."
Kenney echoed that there are reasons to believe.
"I hope that on Oct. 19, Albertans will vote to send a message — a very strong message," he said.
"A message that we are determined to look outward, to build, to grow, to be optimistic, to continue to make allies across Canada for responsible resource development, instead of turning in on ourselves and putting ourselves through a woodchipper. I believe we'll make the right decision, and we will choose to be a strong and prosperous Alberta in a united Canada."
2027 Economic Outlook was presented by ATB Financial, with support from VIP Lounge Partner WSP in Canada; AV partner Encore; decor partner OneWest; Gold sponsors Borden Ladner Gervais, the Calgary Herald, Rogers and the University of Calgary; and Silver sponsors CPHR Alberta, Mount Royal University and Procom.
Learn more about Calgary’s economy and how Calgary Economic Development works with companies, investors and partners to support business growth and investment at CalgaryEconomicDevelopment.com.