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ECONOMY: Calgary as Western Canada’s leading business and financial services centre
            (AlbertaIndex, September 18, Tuesday) --- Calgary Economic Development ( CED ) has just released a report that offers a comprehensive overview of the business and financial services sector in the city.

The report, Calgary: Supporting Growth, provides information on the composition of the city’s business and financial services sector, a summary of the sector’s growth, and an overview of supporting organizations and post-secondary educational support which contribute to its continued opportunities.

This sector profile clearly shows that Calgary is emerging as a true business centre in Canada . The continuing economic growth and the concentration of corporate headquarters in Calgary and Alberta is fuelling this dynamic sector and providing further opportunities as the region’s economy continues to expand. Calgary’s flourishing energy sector is also driving the growth of this thriving industry.

Over 11,500 companies operate within this sector in Calgary. More than 94 per cent of these are small businesses (50 employees or less) which play an important role in supporting all sectors of Calgary’s growing economy.

Over a 10-year period through to 2005, the sector grew more rapidly than that of Alberta and Canada . A total of 18,000 new jobs were created during this period and the sector experienced an average annual employment growth rate of 3.8 per cent as compared to 2.5 per cent for the sector in Canada.

“This report demonstrates Calgary’s prominence as western Canada’s business and financial services centre,” said Adam Legge, Director of Research and Business Information at Calgary Economic Development. “The complexity and diversity of the firms in this sector contribute to the activity within Calgary and illustrate the growing importance of these services to the economy.”


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