March 2015

January 2015
Slide 1

Where is Calgary?
Strategic location

Western Canadas business centre

132 head offices in Calgary

Western Canadas distribution hub

Highway 1 and Canamex

Canadian Pacific Railway and

Canadian National Railway

Calgary International Airport has

connections to 100 destinations

50 million people accessible by ground

transportation within 24 hours

January 2015
Slide 2

About Calgary Economic Development

Calgary Economic Development is a conduit, a connector and a

catalyst

Promotional agency

Lead economic development agency

Non-profit organization

Arms length to City of Calgary

Funded via Government, Industry and Community partnerships

Mandated to support / connect business

Business expansion, investment and attraction

Trade development

Workforce development

Research and information

January 2015
Slide 3

10-year Economic Development Strategy

A strategy to make a global city competitive, successful and unique
Focus on People and Community

Educate and exchange

Remove barriers to meaningful employment

Enhance the citys sense of place and experience

Focus on Business and Enterprise

Strategically develop Calgarys economy

Provide smart infrastructure

Create an environment for smart ideas and innovation

Focus on International Reach

Promote the Calgary brand and identity

Diversify tourism and convention activity

Enhance international business development and connections

January 2015
Slide 4

Calgarys rankings
MoneySense Magazine - Canadas best places to live, 2014

Calgary ranked #1 in top 10 large cities

Calgary ranked #2 out of 201 small, medium and large Canadian

cities over 30 categories

Calgary ranked #2 in top 10 places to raise kids

Calgary ranked #9 in top 10 best places for new immigrants

Calgary ranked #9 in top 10 places to retire

Source: MoneySense Magazine

January 2015
Slide 5

Calgarys rankings
Economist Intelligence Unit Most livable city in the world

Calgary #5 in 2014 (#5 for 2009, 2010, 2011, 2012 and 2013 )

Ranking of 140 global cities with 30 indicators

Criteria: stability, healthcare, culture and environment, education,

infrastructure

Mercer Quality of living survey

Calgary is #31 in the world in 2014 (up from #32 in 2012, #33 in
2011 ranking)

Ranking of 223 global cities with 39 criteria grouped into 10

categories ranked against New York as base city

Criteria: political, social, economic and environmental factors

Source: Economist Intelligence Unit, Mercer

January 2015
Slide 6

Calgarys rankings
City Magnets III: Benchmarking the attractiveness of 50 Canadian
cities, 2014
-

Assessment of 43 features in 7 categories that make cities attractive

to migrants

For Attractiveness to Migrants Report card, Calgary ranked #2 (out of

50 cities) with Grade A
Calgary ranked:

Grade A in Overall Ranking

#1 with Grade A for Economy

#1 with Grade A for Innovation

#5 with Grade A for Housing

#17 with Grade B for Society

#25 with Grade C for Education

#30 with Grade C for Health

#36 with Grade B for Environment

Source: Conference Board of Canada, City Magnets III, 2014
January 2015
Slide 7

Enviable lifestyle
A focus on family and a sense of community

Calgary schools consistently top performers in Alberta

Boasts one of the most successful transit systems in the world

(ridership of 94.4 million; 4,205 route kilometres)

50 per cent of Albertans volunteer -- higher than the national

average of 44 per cent (2013)

Albertans reported the highest financial donations with an average

of $863 in 2013 (the national average was $531)

January 2015
Slide 8

Enviable lifestyle
Active and healthy lifestyle

An hours drive to spectacular Banff and the Rocky Mountains

The most extensive urban pathway and bikeway system in North

America (700 km along rivers; 290 km on-street bikeways)

World-class attractions and sporting amenities, including: Calgary

Stampede, Calgary Zoo, WinSport Canadas Canada Olympic Park,
National Sports Hall of Fame, Telus Spark Science Centre

Abundant green space and parks (3,000 sites)

A community rich in the arts, culture, entertainment and leisure

activities and venues

January 2015
Slide 9

Global Scorecard on Prosperity

Sixth annual report benchmarking 24 global metropolitan areas (including
five Canadian cities) with 33 indicators in two domains:
Economic performance - (18 indicators)
Labour attractiveness (15 indicators)

Overall ranking: Calgary ranks #3 in 2015 (ranked #2 in 2014)

Economy overall ranking: Calgary ranks #7 with Grade B

Labour attractiveness: Calgary ranks #5 with Grade B

Source: Toronto Region Board of Trade. Toronto as a Global City: Scorecard on Prosperity, 2015
January 2015
Slide 10

Calgary demographics

Median age is 36.0 with 74.3 per cent aged 20 and older; 48.5 per
cent of Calgarians are within core working age group of 25 54 (CMA,
2013)

26.2 per cent of population of Calgary CMA are immigrants with 1.9
per cent non-permanent residents (2011 NHS)

Top three countries of birth for immigrants to Calgary CMA

Philippines (10.9 per cent), India (10.0 per cent) and China (9.5 per
cent) (2011 NHS)

28.1 per cent of population is a visible minority with South Asian,

Chinese and Filipinos leading (2011 NHS)

Most frequently reported ethnic origins for Calgary CMA: English

(24.1 per cent), Canadian (20.0 per cent), Scottish (18.5 per cent)
(2011 NHS)

Median total income 2010 $89,490 (all Census families)

Average household size 2.6 people

Second highest level of educational attainment of population aged

25 64 of major Canadian cities (after Ottawa) (2011 NHS)

(2011 Census)

Source: Statistics Canada

January 2015
Slide 11

Economic indicator summary

Indicator
Population

Change over year

Inflation rate

Change over year

Employment*

Date
July 1, 2014

Mar. 2015

Unemployment rate*

Mar. 2015

Change over year

Average hourly wage* (salary employees)

Change over year

Average weekly earnings

Change over year

Gross domestic product

Change over year
(Real GDP growth)

Retail sales

Change over year

1,511,755

Mar. 2015

Change over year

Average hourly wage* (hourly employees)

Value

817,900

Change
/ Rate Geography
(%)
3.5%

CER

1.1%

CMA

3.3%

CMA

5.0%

CMA

Jan. 2015

$27.55

5.0%

Alberta

Jan. 2015

$39.89

4.6%

Alberta

Jan. 2015

$1,170.84

4.0%

Alberta

3.1%

CMA

7.8%

CMA

$117,002.00
Q4 2014 (2007 $ Millions)
$28,071.00
Q4 2014
($ Millions)

*Seasonally adjusted 3 month moving average

Source: Statistics Canada, Conference Board of Canada

January 2015
Slide 12

Educated population
Calgary has a higher degree of learning
Second highest level of educational attainment of population
aged 25 64 of major Canadian cities at 69.6 per cent (after
Ottawa) (2011 NHS)
One of the best educated populations in North America
Headcount (2012/2013)
University of Calgary
SAIT Polytechnic
Mount Royal University
Bow Valley College
ACAD
Olds

34,474
26,815
15,168
10,727
1,250
2,573

Calgarians are connected

All Calgarians have access to broadband Internet connectivity

91.8 per cent of Calgary households have access to the Internet
at home, compared to 82.5 per cent of Canadians (2012)
Source: Statistics Canada, Alberta Advanced Education and Technology
January 2015
Slide 13

High wages and salaries

Wages and salaries
per employee
2014
Canadian CMAs
$69,444
$60,455

Consistently highest wages and

salaries per employee in Canada
for the past 10 years -- $69,444
per employee in 2014

Second highest total growth in

wages and salaries per
employee over the past 5 years
(2010-2014) at 14.8 per cent

Second highest total growth in

wages and salaries per
employee over the past 10 years
(2005-2014) at 34.9%

Second highest average annual

growth in wages and salaries per
employee over the past 10 years
(2005-2014) at 4.4%

$52,637 $52,537
$45,452 $44,553

Calgary Edmonton Ottawa

Toronto Vancouver Montreal

Source: Conference Board of Canada

January 2015
Slide 14

High personal income

Personal income per capita
2014
Canadian CMAs

Highest personal income per

capita in 2014 at $56,178.21

Third highest (tied with

Vancouver) five-year average
annual change in personal
income per capita at 2.8%
(2010-2014)

Second highest average annual

growth in personal income per
capita over the past 10 years
(2005-2014) at 3.5%

$56,178
$49,464

$46,388
$41,898 $42,651

Calgary Edmonton Ottawa

$40,109

Toronto Vancouver Montreal

Source: Conference Board of Canada

January 2015
Slide 15

Calgarys millionaires

Millionaires per capita

(100,000 population)
2012
Canadian CMAs

Highest number of millionaires in

Canada on a per capita basis in
2012 (152.9 per 100,000)

The number of Calgary

millionaires has increased by 2.0
per cent over the past year to
2,000

Calgary millionaires reported a

median income of $1,548,640 in
2012

152.9

86.4
58.8

49.8
36.8
23.3

Calgary

Toronto EdmontonVancouver Montreal

Ottawa

Source: Statistics Canada

January 2015
Slide 16

Calgary and region population

1,500,000

Calgarys population City, CMA, Economic Region

2014)

1,468,689

Calgary CMA is forecast to have a

population of 1.529 million by
2018 (Conference Board of Canada, Autumn 2014)

Calgary Economic Region is

forecast to have a population of
1.732 million in 2019 (City of Calgary

1,409,064
1,363,595
1,338,010

1,364,827

1,313,919

1,300,000

City of
Calgary

1,307,854
1,264,460
1,240,158
1,219,194

Calgary
CMA
1,195,194
1,156,686

1,120,225

1,100,000

City of Calgary population is

forecast to be 1.343 million by
2019 (City of Calgary Corporate Economics, Fall

Corporate Economics, Fall 2014)

Calgary
Economic
Region

1,090,936
1,071,515
1,065,455

900,000
2009 2010 2011 2012 2013 2014

Source: City of Calgary Civic Census, City of Calgary Corporate Economics, Statistics Canada
January 2015
Slide 17

Population growth
Population growth
2005-2014
City of Calgary

45,000

3.3%

40,000
3.7%

35,000

9,887

30,000
25,000
20,000

2.8%
2.2%

2.4%
10,552
8,906

3.3%

Natural Increase

1.8%
9,643

0.6%

25,557
17,631

13,677

10,491

10,260

Net Migration

9,858

10,000

12,441

12,920

10,214

28,017
19,658

19,067

2012

2013

9,563

-4,154

0
-5,000

9,361

2.3%
9,695

15,000

5,000

2.7%

Annual
population
growth
rate (%)

2005

2006

2007

2008

2009

2010

2011

2014

-10,000

Source: City of Calgary Civic Census

January 2015
Slide 18

Leading population growth

Total population growth
2005-2014
Canadian CMAs

29.3%
27.5%

15.4%

14.4%

13.6%
10.2%

Highest population growth in

2014 at 3.6 per cent (2014)

Highest total population growth

and average annual population
growth over the past ten years
(2005-2014), at a rate of 29.3
per cent and 2.9 per cent
respectively

City of Calgarys population is

1.195 million (April 1, 2014)

Calgary CMAs population is

1.407 million (July 1, 2014)

Calgary Economic Regions

population is 1.512 million
(July 1, 2014)

Calgary Edmonton Toronto Vancouver Ottawa

Montreal

Source: Statistics Canada

January 2015
Slide 19

Attracting migrants

Overall net migration

Calgary CMA
2005-2014
45,000

Boasts a net gain of 122,761

migrants over the past five years
(2010-2014) and 237,687
migrants over the past 10 years
(2005-2014)

First in Canada in the number of

overall net migrants per capita
in 2014, at 17.5 migrants per
1,000 population

42,138

40,000
30,794

35,000
30,000
25,000
20,000

23,348
20,615

24,512

25,002

24,587

21,449

15,000
10,000

13,901
11,341

5,000
0

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Source: Statistics Canada

January 2015
Slide 20

Coming from across Canada

Total 10-year net
interprovincial migration
2005-2014
Canadian CMAs

Maintained its lead in number of

net interprovincial migrants over
the past 10 years a staggering
75,151 from 2005-2014, equal
to an annual average of 7,515

75,151
66,474

17,083

Calgary

Edmonton Vancouver

15,082

Ottawa

Toronto

Montreal

-42,425
-64,919
Source: Statistics Canada
January 2015
Slide 21

Coming from within Alberta

Net intraprovincial
migration
2010-2014
Calgary CMA

Calgary has experienced

increased migration into Calgary
from other Alberta cities and
rural areas over the the past five
years

3,565

3,085
2,855

2,855

403
2010

2011

2012

2013

2014

Source: Statistics Canada

January 2015
Slide 22

Coming from around the world

Net international migration
2010-2014
Calgary CMA

Over the past 5 years (20102014), the number of net

international migrants has
increased by 79,156

In 2014, Calgary placed fourth

in the number of net
international migrants after
Toronto, Montreal and Vancouver

24,000
21,497

22,000

19,740

18,580

20,000
18,000

16,000
14,000

12,845

12,000
10,000
8,000
6,494

6,000
2010

2011

2012

2013

2014

Source: Statistics Canada

January 2015
Slide 23

Attracting newcomers
Top source countries for permanent residents
2013
Calgary CMA
Source country
All source countries

Number of permanent
residents

Distribution (%)

17,602

100.0

Philippines

3,000

17.0

India

2,361

13.4

Peoples Republic of China

1,624

9.2

1,137

6.5

United States of America

714

4.1

Nigeria

628

3.6

United Kingdom and Colonies

611

3.5

Iran

464

2.6

Republic of Korea

330

1.9

United Arab Emirates

269

1.5

Top 10 source countries

12,449

70.7

Other source countries

5,153

29.3

Pakistan

Source: Citizenship and Immigration Canada

January 2015
Slide 24

Diverse population

47.0%

Visible minority rate

2011 National Household
Survey
45.2%
Canadian CMAs

Among the highest visible

minority rates in Canada

Third after Toronto and

Vancouver

Calgarys top visible

minorities groups: South
Asian, Chinese, Filipino

28.1%
22.8%

22.4%

20.3%

Only 20.0 per cent of Calgarians

identify Canada as location of
origin/ancestry

Toronto Vancouver Calgary

Most prevalent origins:

English, Scottish, German,
Irish

Ottawa Edmonton Montreal

Source: Statistics Canada, 2011 National Household Survey

January 2015
Slide 25

Labour force growth

Total labour force growth
2005-2014
Canadian CMAs

Highest in labour force growth in

2014 at 2.8 per cent

Second highest total labour force

growth over the past 10 years
(2005-2014) at 30.3 per cent

Second highest average annual

labour force growth over the
past 10 years (2005-2014) at
2.8 per cent

33.4%
30.3%

14.9%

14.3%

13.5%
9.8%

Edmonton Calgary

Ottawa

Toronto VancouverEdmonton

Source: Statistics Canada

January 2015
Slide 26

Employment growth

32.6%

Total employment growth

2005-2014
Canadian CMAs

Highest in employment growth

in 2014 at 2.6 per cent

Second highest total

employment growth over the
past 10 years (2005-2014) at
28.8 per cent

Second highest average annual

employment growth over the
past 10 years (2005-2014) at
2.8 per cent

28.8%

14.7%

13.3%

13.0%
10.4%

Edmonton Calgary

Ottawa Vancouver Toronto Montreal

Source: Statistics Canada

January 2015
Slide 27

Engaged workforce

Participation rate
2014
Canadian CMAs
73.4%

73.0%

69.9%

66.8%

Consistently highest labour force

participation rate every year for
the past decade 73.4% in
2014.

Highest labour force

participation rate over the past
10 years (2005-2014) with an
average annual rate of 75.1 per
cent

66.1%
64.7%

Calgary Edmonton Ottawa

Toronto Montreal Vancouver

Source: Statistics Canada

January 2015
Slide 28

Low unemployment rate

Unemployment rate
2014
Canadian CMAs
8.0%

8.2%

Second lowest unemployment

rate in 2013 at 4.9 per cent
(after Edmonton with 4.8 per
cent)

Lowest average annual

unemployment rate over the
past 10 years (2004-2013) at
4.8 per cent

Second lowest average annual

unemployment rate over the
past five years (2009-2013) at
5.8 per cent (after Edmonton
with 5.7 per cent)

6.7%
5.8%
5.0%

5.1%

Calgary EdmontonVancouver Ottawa

Toronto Montreal

Source: Statistics Canada

January 2015
Slide 29

Large working-age population

Population distribution
2014
Calgary Economic Region
70+

65-69
60-64
55-59

Economic Region, 2014)

50-54
45-49
40-44

Highest employment-topopulation ratio among

major Canadian CMAs at
69.7

Second youngest
population among Canadas
major CMAs with a median
age of 36.1 (2014)

35-39
30-34

25-29
20-24
15-19
10-14
5-9
0-4
0.0%

47.7 per cent of Calgarians

within the core working age
group of 25 54 (Calgary

2.0%

4.0%

6.0%

8.0%

10.0%

Source: Statistics Canada

January 2015
Slide 30

Productive workforce
Labour force productivity
2014
Canadian CMAs

Consistently the highest labour

force productivity in Canada $145,523 in real GDP per worker
in 2014

Labour force productivity is a

measure of the economic value
of output per employee

$145,523

$118,376

$92,255 $91,469 $89,723

Calgary Edmonton Toronto

$82,981

Ottawa Vancouver Montreal

Source: Statistics Canada, Conference Board of Canada

January 2015
Slide 31

Employment diversity
Historical employment by industry
2010-2014
Calgary Economic Region
Industry

2010
Persons
(000s)

2014
Persons
(000s)

Change
2010-2014
(%)

Agriculture

10.4

4.9

-52.9%

Forestry, fishing, mining, quarrying, oil and gas

48.4

65.6

35.5%

5.7

5.3%

72.2
48.1

93.2
52.6

29.1%
9.4%

113.9

117.9

3.5%

Transportation and warehousing

42.9

52.5

22.4%

Finance, insurance, real estate and leasing

49.2

46.3

-5.9%

Professional, scientific and technical services

78.8

99.2

25.9%

Business, building and other support services

27.6

35.4

28.3%

Educational services

44.3

46

0.0%

Health care and social assistance

Information, culture and recreation

75
36.3

88.3
31.1

17.7%
-14.3%

Accommodation and food services

42.3

54.9

29.8%

Other services

34.8

39.1

12.4%

Public administration

23.4

24.1

3.0%

Other services

37.4

37.1

-0.8%

Public administration

26.3

25.6

-2.7%

817.0

919.8

12.6%

Utilities
Construction
Manufacturing
Trade

All Industries

Source: Statistics Canada

January 2015
Slide 32

Industry wages
Average overall wages by industry
2014
Calgary CMA
Industry

Agriculture, forestry, logging, fishing and hunting

Mining, quarrying, and oil and gas extraction
Utilities
Construction
Manufacturing
Wholesale trade
Retail trade
Transportation and warehousing
Information and cultural industries
Finance, insurance, real estate and leasing
Professional, scientific, and technical services
Management of companies and enterprises
Administrative and support, waste management and remediation services
Educational services
Health care & social assistance
Arts, entertainment and recreation
Accommodation and food services
Other services
Public administration
All industries

Hourly Rate
N/A
$43.66
$43.48

$29.22
$28.31
$29.94
$16.99
$26.88
$30.51
$31.61
$35.95
N/A
$21.17
$32.61
$29.80
$21.91
$15.04
$22.80
$38.32
$29.05

Source: Statistics Canada

January 2015
Slide 33

Calgarys economy
Real GDP growth
2014
Canadian CMAs

Second among major Canadian

cities in real GDP growth in 2014
at 4.5 per cent

Second highest total real GDP

growth over the past 10 years
(2005-2014) at 32.4 per cent

Second highest 10-year average

annual real GDP growth rate of
3.4 per cent (2005-2014)

Conference Board of Canada

forecasts a real GDP growth rate
of 1.5 per cent for 2015, 2.8 per
cent for 2016-2019, and 3.5 per
cent for 2010-2019 (Winter 2015)

5.6%

4.5%

2.9%
2.4%
2.1%

0.5%

EdmontonCalgaryVancouverToronto Montreal Ottawa

Source: Conference Board of Canada

January 2015
Slide 34

Highest retail sales

Total retail sales growth
2005-2014
Canadian CMAs
59.8%

Second highest total growth in retail

sales over the past 10 years (20052014) at 52.6 per cent

Second highest average annual retail

sales growth over the past 10 years
(2005-2014) at 5.8 per cent

Highest retail sales per capita in 2014

at $19,573

Second highest average annual

growth in retail sales per capita over
the past 10 years (2005-2014) at 2.8
per cent

52.6%

38.8%

Edmonton Calgary

Ottawa

36.1%

35.3%

33.5%

Toronto Vancouver Montreal

Sources: Conference Board of Canada, Statistics Canada

January 2015
Slide 35

Small business drives economy

Small business per capita
(per 1,000 Population)
2014
Canadian CMAs

39.5

38.5

36.7

Vancouver Edmonton

Largest concentration of small

businesses among Canadian
cities on a per capita basis at
39.5 (per 1,000 population) in
2014

Highest number of selfemployed per capita in Canada

in 2014 at 91.2 per 1,000
population

Young entrepreneurs

34.1
28.0

Calgary

Toronto

Montreal

25.0

The largest group of Calgary

entrepreneurs were in the
45-54 age group (28.2 per
cent), followed by 35-44 age
group (24.2 per cent)

Ottawa

Source: Statistics Canada

January 2015
Slide 36

Successful businesses
Business bankruptcies
2004-2013
Calgary CMA

Calgary CMA experienced a

dramatic decrease of 87.2 per
cent in business bankruptcies
over a 10-year period (20042013) to 74 in 2013 from 579 in
2004

Of Alberta's 230 business

bankruptcies in 2013, 32.2 per
cent were from Calgary CMA

700

600

579

500
419
400
300
200
100

267
190
176147

116

95 86

74

0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Source: Industry Canada

January 2015
Slide 37

Low rate of business bankruptcies

Business bankruptcy rates
(per 1,000 businesses)
2013
Canadian CMAs

3.6%

Of Canadas major CMAs,

Calgary ranked third in terms
of lowest business bankruptcy
rates per 1,000 businesses in
2013, at 0.6 per cent

1.7%

1.0%
0.7%

0.2%

0.3%

Edmonton Vancouver

Calgary

Toronto

Ottawa

Montreal

Source: Industry Canada

January 2015
Slide 38

Western Canadas head office centre

Corporate head offices
(per 100,000 population)
2013
Canadian CMAs

10.3

132 Calgary-based companies

on the FP500 list; eight are
among the top 50 in Canada

4.3

1.9
1.1

Calgary

Toronto

Highest concentration of head

offices per capita in Canada, at
9.7 per 100,000 population

Highest head office per capita

growth for the period 2004
2013, at 14.5 per cent

3.9

2.0

Vancouver Montreal Edmonton

Calgary has experienced a

48.3 per cent growth in head
offices over past ten years
(2004-2013)

Ottawa

Source: FP500 2013 Database; FP500 2004 Database

January 2015
Slide 39

Calgarys economic diversity

Business establishments by industry
2010-2014
Calgary Economic Region
Industry
Agriculture, forestry, fishing and hunting
Mining, quarrying and oil and gas extraction
Utilities
Construction
Manufacturing
Wholesale trade
Retail trade
Transportation and warehousing
Information and cultural industries
Finance, insurance, real estate and rental and leasing
Professional, scientific and technical services
Management of companies and enterprises
Administrative and support, waste management & remediation services
Educational services
Health care and social assistance
Arts, entertainment and recreation
Accommodation and food services
Other services (except Public administration)
Public administration
All industries

2014
622
1,614
114
7,791
1,850
2,753
5,232
2,417
507
4,533
13,236
849
2,943
714
4,172
529
3,236
4,753
86
57,951

Source: Statistics Canada

January 2015
Slide 40

Calgarys economic diversity

Historical GDP by industry
2010-2014
Calgary CMA
Industry
Goods-producing industries

2010
(2007 $ Millions)

2014
(2007 $ Millions)

Total Change
2010-2014
(%)

44,233

53,596

21.2%

Manufacturing

5,778

6,848

18.5%

Construction

7,985

11,347

42.1%

30,470

35,401

16.2%

Primary and utilities

Services-producing industries

53,533

62,470

16.7%

Transportation and warehousing

4,186

5,095

21.7%

Information and cultural industries

3,116

3,275

5.1%

Wholesale and retail trade

7,548

9,447

25.2%

15,270

17,408

14.0%

Business services

9,429

11,629

23.3%

Personal services

3,786

4,453

17.6%

Non-commercial services

6,979

8,024

15.0%

Public administration and defence

3,218

3,139

-2.5%

97,766

116,066

18.7%

Finance, insurance and real estate and leasing

All industries

Source: Conference Board of Canada

January 2015
Slide 41

Calgarys economic diversity

Forecast GDP by industry
20152019
Calgary CMA
Industry
Goods-producing industries

2015
(2007 $ Millions)

2019
(2007 $ Millions)

Total change
2015-2019
(%)

51,579

54,397

5.5%

6,917

7,846

13.4%

Construction

10,076

10,349

2.7%

Primary and utilities

34,586

36,203

4.7%

Manufacturing

Services-producing industries

63,142

70,948

12.4%

Transportation and warehousing

4,937

5,213

5.6%

Information and cultural industries

3,307

3,598

8.8%

Wholesale and retail trade

9,334

10,292

10.3%

Finance, insurance and real estate and leasing

17,874

20,227

13.2%

Business services

11,826

13,349

12.9%

Personal services

4,524

5,395

19.2%

Non-commercial services

8,185

9,419

15.1%

Public administration and defence

3,155

3,455

9.5%

114,721

125,345

9.3%

All industries

Source: Conference Board of Canada

January 2015
Slide 42

Economic indicator summary

Summary of current real estate / construction indicators - Calgary
Indicator

Date

Value

Change/Rate
(%)

Geography

Housing starts - number

Year-to-date
Feb. 2015

1,538

-40.8%

CMA

Building permit values

Year-to-date
Jan. 2015

$359.7 Million

-33.9%

CER

Major Calgary project values 1

Mar. 2015

$19.5 Billion

4.3% City of Calgary

Benchmark Calgary house price (single family)

Dec. 2014

$510,900

8.2% City of Calgary

Change over year

Change over year

Change over year

Change over year

Downtown office vacancy rate

Suburban office vacancy rate
Industrial real estate vacancy rate

1 On

Q4 2014

9.8% City of Calgary

Q4 2014

13.1% City of Calgary

Q4 2014

3.4% City of Calgary

hold projects removed from total value

Sources: Statistics Canada, Conference Board of Canada, CREB, CB Richard Ellis, CMHC, Alberta Enterprise and Advanced Education
January 2015
Slide 43

Strong construction activity

10 year total growth in
total building permits
2005-2014
Canadian CMAs
122.1%

Second highest total growth in

total building permits over the
past ten years (2005-2014) at
86.9 per cent

Second highest total growth in

residential building permits over
the past ten years (2005-2014),
at a rate of 96.5 per cent

Second highest total growth in

non-residential building permits
over a 5 year period (20102014) at 108.4 per cent

86.9%

54.7%
47.4%
34.6%
26.3%

Edmonton Calgary

Montreal

Ottawa

Toronto Vancouver

Source: Statistics Canada

January 2015
Slide 44

Calgary projects
Calgary major projects (as at March 2015)
Company name

Project description

Project cost
($ Millions)

Timing

Status

WAM Development Group / AIMCo

'Stonegate Landing' Retail, Office and

Industrial

$3,000

2010-2021 Under Construction

Calgary Airport Authority

International Transborder Concourse

$1,427

2011-2015 Under Construction

ENMAX Energy Corp. / Capital Power

Corp.

'Shepard Energy Centre' Power Plant

$1,400

2011-2015 Under Construction

Government of Alberta / Alberta Cancer

Foundation
Calgary Cancer Project

$1,200

2016-2020 Announced

Brookfield Properties Ltd.

'Brookfield Place Calgary' Office Towers

$1,000

2013-2017 Under Construction

Alberta Health and Wellness

Foothills Medical Centre Upgrade (McCaig

Tower)

$550.6

2006-2016 Under Construction

Shepard Development Corp.

Office Building Campus (Ten Buildings)

$500

2014-2019 Announced

Oxford Properties

Oxford Airport Business Park

$500

2011-2019 Under Construction

ATCO Pipelines

High-pressure natural gas pipeline network

$450

Completion by 2018 Announced

Source: Alberta Innovation and Advanced Education

January 2015
Slide 45

Office and industrial market

Vacancy rates by market: Calgary
Q4 2014
20.0%
18.0%

17.3%
15.7%

16.0%
13.2%

14.0%
12.0%

12.9%

13.1%
12.1%

9.8%

10.0%

Downtown Office

9.8%

Suburban Office
Industrial

8.0%
6.0%

5.1%

4.0%

3.4%

2.0%
0.0%
Class AA

Class A

Class B

Class C

Total

Source: CB Richard Ellis

January 2015
Slide 46

Non-residential taxes - 2014

Calgarys non-residential municipal tax rate

0.0106938

Calgarys non-residential provincial tax rate

0.0034170

Calgarys total non-residential tax rate

0.0141108

Calgarys business tax rate*

0.0758

Alberta has no inventory tax, no machinery and equipment tax, and

no payroll tax

* It should be noted that the City of Calgary is consolidating the business tax with the non-residential
property tax. This is an incremental process, culminating with the elimination of the business tax by
2019.

Source: City of Calgary

January 2015
Slide 47

Housing market affordability

Standard two-storey house
Q4 2014

Census
metropolitan
area

Average
price

Qualifying
income

Affordability
measure

Vancouver

$906,400

$164,400

85.6

Toronto

$725,600

$141,500

65.6

Montreal

$399,900

$82,700

48.1

Ottawa

$413,800

$93,600

37.7

Edmonton

$410,000

$86,400

36.3

Calgary

$500,300

$98,200

33.9

Canada

$449,900

$92,200

48.1

On average, Calgary still offers

more affordable* housing than
Vancouver, Toronto, Montreal,
Ottawa, Edmonton and the
national average.

* The Royal Bank Housing Affordability Index measures

a house price in relation to the total payments required for
a mortgage, utilities and property tax. The higher the
measure, the more difficult it is to afford a house.

Source: RBC Economics. Housing Trends & Affordability, March 2015

January 2015
Slide 48

Low property taxes

Municipal property tax for
a representative*
single family house
2013
Select Canadian CMAs

Calgarys residential property

taxes are among the lowest of
any major Canadian city

$2,212

$1,842

$1,913

$1,587

* Representative single family house is

defined as 25-35 years old, 3 bedroom
bungalow, main floor 1,200 square feet,
double car garage, finished basement located
in average neighbourhood of city
Calgary

Vancouver

Edmonton

Toronto

Source: City of Calgary, 2013 Residential Property Taxes and Utility Charges Survey
January 2015
Slide 49

Low property taxes

Total property tax and utility
charges for a
representative*
single family house, 2013
Select Canadian CMAs
$5,226

Calgarys residential property

taxes are among the lowest of
any major Canadian city

$4,984

$4,866

* Representative single family house is

defined as 25-35 years old, 3 bedroom
bungalow, main floor 1,200 square feet,
double car garage, finished basement located
in average neighbourhood of city
Toronto

Calgary

Edmonton
Source: City of Calgary, 2013 Residential Property Taxes and Utility Charges Survey
January 2015
Slide 50

Albertas tax advantages

Most competitive provincial corporate tax jurisdiction in Canada

Corporate income tax

Sales tax
Payroll tax
Inventory tax

10 %
0%
0%
0%

Lowest provincial personal income tax rate in Canada

Marginal personal income tax rate

10 %

January 2015
Slide 51

Albertas trade strength

Albertas exports in 2012 ($95.9 billion)

Oil (including oil sands) - $57.9 billion

Gas & natural gas liquids - $8.6 billion
Chemicals - $6.9 billion
Food, feed & beverage - $3.5 billion
Energy (including mining) - $69.7 billion (72.7 per cent of total
Alberta exports)

United States - $83.0 billion

China - $3.7 billion
Japan - $2.0 billion
Mexico - $1.0 billion

Source: Alberta International and Intergovernmental Relations

January 2015
Slide 52

Albertas trade strength

Albertas imports in 2012 ($27.4 billion)

Mineral fuels, oil fuels etc. - $5.6 billion

Machinery - $5.4 billion
Iron/steel products - $2.2 billion
Electrical machinery - $2.0 billion

United States - $18.0 billion

China - $2.8 billion
Mexico - $1.5 billion
Germany - $0.5 billion
Note: Imports are direct into Alberta and does not include imports going to another province before entering
Alberta

Source: Alberta International and Intergovernmental Relations,

January 2015
Slide 53

Alberta projects
Alberta major projects summary (as at March 2015)
Sector

Agriculture and Related

Value of all projects

($ millions)

# of projects

$384.8

Commercial / Retail

81

$9,441.2

Commercial / Retail and Residential

18

$4,016.0

Infrastructure

161

$9,838.6

Institutional

108

$6,484.1

Oil and Gas

12

$5,955.0

Oil Sands

47

$103,409.0

Other Sectors

14

$2,011.8

Pipelines

28

$20,986.2

Power

19

$11,592.8

Residential

112

$3,996.4

Tourism / Recreation

100

$4,218.6

Total

705

$182,334.5

Source: Alberta Innovation and Advanced Education

January 2015
Slide 54

Oil and oil sands

Canadian oil sands and conventional oil
production outlook

Source: Canadian Association of Petroleum Producers (CAPP)

January 2015
Slide 55

Oil sands in Western Canada

Western Canadian oil sands and conventional
oil production outlook

Source: Canadian Association of Petroleum Producers (CAPP)

January 2015
Slide 56

Contact us

info@calgaryeconomicdevelopment.com
403-221-7831

www.calgaryeconomicdevelopment.com
Connect with us: @calgaryeconomic LinkedIn

January 2015
Slide 57