CMTT concludes the season with a talk from Mary Moran, President and CEO of Calgary Economic Development, on “Lifting the Gloom on Calgary’s Economic Future.”

Kiersten Ermelbauer writes:

if you attended June 20’s CMTT Luncheon then you probably walked away with these words ringing in your ears: Calgary is open for business! 

But as Mary Moran explained during her presentation, it hasn’t always been this way. So why is Calgary open for business now?

There’s a massive cultural shift underway here in YYC, in part fueled by the latest slump in oil prices. This slump has contributed to a 27.3% vacancy in office space and an unemployment rate that reached as high as 9.3%, flooding the market with talent. Combine these factors with perks such as a reasonable cost of living and no PST, and Calgary becomes a surprisingly attractive alternative for new ventures.

Of particular interest to Mary Moran are technology start-ups looking to fuel innovation in Calgary and create a technological ecosystem. 

Gone are the days where industrial heavyweights were relied upon to feed the economy. Here to stay are the days where industrial sectors will rely upon the protection of technological advancements to remain relevant and competitive. 

As one might expect in oil indentured Calgary, this paradigm shift doesn’t bode well with everyone, and Mary needs all the help she can get finding industry, community and political leaders to lead this transformation’s charge.

Want to know how you can help foster this cultural shift? Mary wants you to spread the word about innovative things happening in Calgary and when you hear of a company that you think should call Calgary home email info@calgaryeconomicdevelopment.com. 

In the meantime find below links to Mary's presentation slides and Calgary's 10 year Economic Strategy:

https://drive.google.com/file/d/0B4U8tuMqnz1PLThKOVp4eU5wQXc/view?usp=sharing

https://drive.google.com/file/d/0B4U8tuMqnz1PNkotNnYwTlFrdjg/view?usp=sharing

That’s a wrap, folks! Thanks for the excellent season and we look forward to welcoming you back in September. Please keep an eye out for our announcements on the Calgary CM Think Tank LinkedIn Group page.