Economic Development Week is May 4-8, 2026 — a time to spotlight the work that builds stronger, more resilient communities. To mark the week, this article breaks down what economic development is, why it matters to Calgarians’ everyday lives and how Calgary’s long-term economic strategy is shaping a prosperous, inclusive and future-ready city.
Founders closing deals. Thirty-somethings starting a new career. Students landing a work-integrated learning gig. Newcomers finding meaningful work – and a sense of belonging. This is economic development in action.
To some, the term ‘economic development’ may sound like policy jargon. But in reality, it’s the foundation of a livable, future-ready city.
Calgary is intentionally building this future. It’s a place where bright minds, bold ideas and an unmatched community spirit come together to tackle global challenges and create local opportunity.
This mentality drives Uplook: An Action Plan for Our Economy, Calgary’s economic blueprint and the foundation of our work at Calgary Economic Development (CED).
What is economic development?
Economic development is the strategic work of attracting investment, creating jobs and building a strong local economy by fostering conditions where businesses and people can thrive.
In Calgary, it’s also about resilience, ensuring our city remains competitive and inclusive for generations to come.
More than just businesses, economic development is about people. The United Nations and the World Bank define economic development as expanding people’s freedoms and choices across economic, institutional and social systems.
In Calgary, it means creating conditions for companies to succeed, communities to prosper and Calgarians to build fulfilling lives and careers right here at home. This is a team sport, requiring collaboration among civic organizations, governments and the private sector.
Why it matters
Calgary has experienced the boom-bust rollercoaster more than once. Now, in a time of global economic uncertainty — from inflation and trade disputes to disruptive technologies like AI — cities need to be agile and proactive.
This is where intentional planning and execution comes in.
By leading with data, supporting innovation and fostering local and global partnerships, CED helps position Calgary to not only weather economic headwinds but lead in the face of them.
Calgary’s economic plan for the future — Uplook
At the heart of Calgary’s approach to economic development is Uplook — our economic action plan for long-term prosperity.
To ensure growth translates into a better quality of life for all Calgarians, we track more than traditional economic indicators like GDP, employment, and inflation. Instead, Uplook focuses on where Calgary can lead — locally and globally — by driving innovation, attracting world-class talent and telling a bold story of opportunity.
While CED is the steward of this plan, its success depends on collective action. From civic organizations to small business and global companies, everyone plays a role in shaping Calgary’s economic future.
The plan is built on five connected focus areas: innovation, livability, talent, business environment and brand. Together, these pillars guide programs and initiatives that aim to create a more resilient, inclusive and future-focused economy.
Developed through input from the Calgary community, Uplook aligns with the United Nations’ Sustainable Development Goals (SDGs), supporting inclusive growth, reduced inequality, climate resilience and decent work for all.
Uplook works in tandem with other ambitious CED-led initiatives like Calgary’s Innovation Strategy. Set to create up to 187,000 new jobs and $28 billion in economic impact by 2034 through the creation of sector-specific innovation nodes, the new strategy will shape Calgary’s innovation economy for decades to come.
How we do this for Calgary
Plans are imperative to strategic growth, but action and outcomes indicate what’s working.
As stewards of the economic action plan, Calgary Economic Development drives economic diversification as a connector, conduit and storyteller for Calgary.
To guide bold strategies like Uplook, we rely on applied foresight — using data, trends and scenario planning to make informed decisions about Calgary’s future — 10, 20 and 50 years from now.
This future-focused lens allows us to support long-term resilience and adaptability. By analyzing what’s on the horizon — in technology, demographics and beyond — we position Calgary to lead with confidence in an increasingly complex and fast-moving world.
Over the last few decades, Calgary has felt the impact of economic cycles more than once — and our community knows first-hand what happens when our proverbial eggs are in too few baskets.
That’s where Calgary Economic Development comes in. Our organization exists to tilt decisions in Calgary’s favour — to make Calgary the easiest “yes” when people around the world are making tough choices about their company’s future, or their personal future. To accelerate economic diversification, our team focuses on cultivating investment and creating jobs in the key sectors with strongest potential to create more opportunities for Calgarians— including clean energy, agribusiness, technology, life sciences, and film and television.
In practice, this work takes shape through two main priorities: attracting companies from outside the city to expand and invest in Calgary and supporting local companies through trade programming to successfully expand into new markets in Canada or around the world.
Economic impact of CED and OCIF’s work
In 2025 alone, we supported nearly $1 billion in investment and the creation of nearly 8,000 jobs. Through our various trade services, we also helped local companies expand into 21 countries across six continents, generating $60 million in international revenue across 45 deals.
With all the noise and headwinds in the world right now, we know dreamers and doers can’t solve global challenges without the tools and support needed to succeed.
The Opportunity Calgary Investment Fund (OCIF) is another tool in Calgary’s toolbox to build resiliency for the city. As a wholly owned subsidiary of the City of Calgary, and administered by CED, OCIF is a fund that exists to unlock opportunities for local companies, startups and entrepreneurs by investing in Calgary-based companies and projects that strengthen our city’s workforce and economy.
With a 12x return on funding, OCIF has spurred $1.1 billion of economic activity in Calgary since its inception in 2018.
Organizations collaborate to cement economic resiliency in the Calgary region
This work to sustainably diversify our economy is set to level up in 2026.
Economic development agencies of surrounding municipalities – including the City of Airdrie, City of Calgary, City of Chestermere, Town of Cochrane, Foothills County, Town of High River, Town of Okotoks and Rocky View County – have joined forces through the creation of the Invest Greater Calgary initiative.
Echoing the footsteps of other investment attraction organizations around the world to collaborate rather than compete, the group formed to strategically attract investment, create jobs in the Calgary region. While each municipality retains its own economic growth priorities, this group comes together to sharpen the Calgary region’s value proposition to investors and highlight the investment opportunities beyond city limits.
A city for everyone
Economic development isn’t just for economists or entrepreneurs — it’s for all of us.
Whether you're building a career, launching a startup, raising a family or exploring new opportunities, a strong economy means more options, better quality of life and a brighter future.
When you see a new company setting up shop, a new job posting in your field or a new program supporting workers to develop the skills they need to thrive, you’re seeing economic development in action.
The future of Calgary is something we build together. Explore our economic action plan, Uplook, and see how you can be part of shaping what’s next.