This article is part of the Bright Leaders of Calgary series, which features prominent corporate leaders from our Team Calgary program and their insights on the local business community and vision for the future.
Calgary’s business confidence is climbing — and Allison Dowhanik knows why. As Vice President - Commercial Markets at Servus Credit Union, she works alongside the companies fueling that momentum, helping them access capital, navigate disruption and grow with purpose. From established players to rising sectors, she sees firsthand what’s powering Calgary’s next chapter.
With insight into what’s driving business confidence and how financial institutions are transforming, Allison offers a clear-eyed view of what makes Calgary competitive — and what’s next for the city’s entrepreneurs, employers and emerging sectors.
We sat down with Allison to talk about industry trends, workforce culture and why Calgary’s entrepreneurial spirit is driving economic momentum.
Calgary’s economic momentum continues to attract companies of all sizes — from local startups to multinationals. What are you hearing from clients about what’s driving their confidence in this market right now?
For several reasons, Alberta remains business-friendly, which is certainly represented by the low corporate tax rate. Calgary is well situated as a logistical distribution center for Western Canada, we have access to a highly educated workforce and Calgary is highly entrepreneurial. Equally as important, there's good access to capital, both debt and private equity.
Additionally, while Alberta's energy sector relies heavily on exports to the U.S., the tariffs on the energy side are significantly lower than other industries, particularly when you look at Ontario and Quebec. As a result, we are seeing increased capital — especially from the banking sector — moving into Alberta, which is resulting in a highly competitive pricing environment in most sectors, specifically for lower-risk borrowers. Access and cost of capital for Alberta-based companies is currently better than in Eastern Canada, and given the number of companies headquartered in Calgary, this bodes very well for local businesses.
Servus Credit Union supports businesses across Alberta’s urban and rural economies. From your vantage point, what strengths or opportunities make Calgary a unique commercial hub?
World-class post-secondary institutions in Alberta ensure a stable stream of well-trained and ambitious graduates. Calgary is vibrant and attracts and retains youth to work — in financial services and beyond. It's a Western hub for finance, the energy sector, agri-sciences, aerospace, entertainment and tech industries. Our close proximity to the mountains also helps attract physically active, hard-working talent, particularly in the software development and tech sectors.
Commercial banking has a front-row seat to economic shifts. Based on what you’re seeing, what trends or industries are poised for growth in Calgary over the next decade?
While energy will always be foundational to Calgary, several new growth sectors are emerging in our city: technology, fintech, clean tech, life sciences and agribusiness. Calgary's strategic location, talent pool and entrepreneurial drive are fueling these next-generation industries. Logistics, construction services and aerospace are scaling as infrastructure investment and population growth pick up. These sectors are no longer start-ups, but growing and bankable.
With population growth accelerating and new businesses arriving, how is Calgary’s entrepreneurial ecosystem changing? What’s exciting — and what still needs work?
The ecosystem is changing quickly with a developing tech sector and immigration creating new businesses. The tech sector is particularly exciting, with data centers providing a platform for innovation across various industries. Local tech startup success stories are proving that technology companies can scale in Calgary. Entrepreneurship is part of Calgary's identity; however, challenges remain, such as regulatory friction between provinces that slows down business, but in light of new federal legislation that aims to eliminate these hurdles, we are optimistic that these barriers will ease.
What makes you optimistic about Calgary’s future as a place to live, work and grow a business?
Calgarians get things done - we are high on initiative, and we live in one of the most beautiful locations in the world.
About Team Calgary: The Team Calgary corporate partnership program engages our community’s visionary thought leaders to influence Calgary’s economic growth and create long-term prosperity and opportunities for all Calgarians.
Together, we advance the economic strategy, Uplook: An Action Plan For Our Economy, as the path to make Calgary the place where bright minds and big ideas come together with an unmatched spirit to help solve global challenges