Amid ‘Complex Economic Landscape,’ Blue Sky City Makes Moves to Support Innovation

Experts this month descended on Calgary for the annual 2026 Economic Outlook event.

The annual affair, hosted by Calgary Economic Development and supported by ATB Financial, included keynotes and a fireside chat that explored the economic landscape of Alberta and Canada.

Currently, Calgary’s unemployment rate is nearly 8%, a full percentage point higher than the national average, and youth unemployment is the second highest in Canada.

Even so, the region’s economy is forecast to expand by more than 2% next year, nearly double the projected national rate of 1.3%.

“As we approach two million residents, we’re meeting 2026’s economic challenges with investments in safety, infrastructure, and a resilient, diversified economy—all grounded in fiscal discipline to keep opportunity growing,” stated Calgary Mayor Jeromy Farkas.

Blue Sky City faces a complex economic landscape shaped by trade tensions and geopolitical volatility, according to the Outlook consensus, with “diversification and innovation” identified as two keys to maintain future growth.

The local economy “remains resilient,” according to Calgary Economic Development chief executive officer Brad Parry, “but we cannot afford complacency heading into next year.”

To help navigate this economic uncertainty, Calgary Economic Development is advancing targeted programs to help local companies diversify trade relationships.

“Given the current climate, we must stay focused on market diversification, building capacity within our local innovation landscape, and giving Calgary businesses the tools to grow, hire, and compete globally to position our community for long-term prosperity,” Parry said.

Calgary Economic Development is also creating conditions to help companies scale.

For example, through additional investments in alignment with Calgary’s Innovation Strategy, the city is expected to cement sector-specific innovation nodes and funding networks that help companies launch and scale ventures in the city.

This Strategy is projected to add 187,000 jobs and contribute $28B to the economy by 2034.

To ensure sustained long-term prosperity, ATB’s chief economist, Mark Parsons, argues that “we must continue to leverage our existing strengths in energy and agri-food while scaling up our emerging sectors like tech and aviation.”

“Calgary,” affirmed Mayor Farkas, “is the place to be.”