CALGARY WARY OF BECOMING A VICTIM OF ITS OWN ECONOMIC SUCCESS
Calgary’s place as the country’s economic engine has come with challenges and a growing need to manage expectations, Bruce Graham, president and CEO of Calgary Economic Development, told business and community leaders Friday.
“We are challenged by opportunities. We actually have to keep our costs under control. We have to make sure we can make this city affordable for the labour force we need to continue our growth and opportunities,” Graham said during CED’s 2013 Report to the Community.
His caution was echoed by Mayor Naheed Nenshi who said Calgary must continue to attract talent while managing the effects of population growth. “Demographics is going to drive a lot of change,” he said, “so traditional areas of economic prosperity for the city like real estate will still be areas of prosperity but they’re going to be different.”
The mayor said developers have adjusted by understanding where Calgarians want to live, work and shop. “(They) are shifting quickly. Most of the developers here in Calgary have been great because they’re trying to ride that wave and get ahead of it,” he said.
Graham said Calgary Economic Development is looking to organize a housing monitor that would gauge the availability and costs of various housing types for people wanting to move to Calgary.
Nenshi also touched on uncertainty in the energy industry, particularly as it relates to market access.
“Clearly there are potential bumps ahead for the energy industry,” he said. “We also have to look at cost and productivity in those industries and how that affects the kinds of jobs that happen here in Calgary that could be done frankly somewhere else. We’re in a good place. We’re a very prosperous place. We’re one of the few places in the world where we’re managing growth more than we are dealing with unemployment.”
CED announced Friday that Wilfred Gobert will step down after six years as chairman.
Steve Allan will assume the role after heading the organization’s economic development strategy advisory committee. Allan is currently chairman of the Canadian Tourism Commission.