Calgary & Alberta Economy

[Chowda7]

Calgary Herald

A Calgary tech company created by two of the co-founders of Skip the Dishes has raised $50 million in a Series A funding round

www.google.com

What a year for VC in Calgary

Definitely ending a strong 2020 on a high note. Excited to see what 2021 brings

 

[Chowda7]

This is turning into a big week. $3 million investment by OCIF in LodgeLInk. LodeLink will lease 50,000 sq/ft in the downtown as part of the expansion

OCIF supports up to 300 new tech jobs in LodgeLink's 600-job expansion in Calgary

/CNW/ - The Opportunity Calgary Investment Fund (OCIF) will provide up to $3 million to support the rapid scaling of Calgary-based LodgeLink Inc. with the...

www.newswire.ca

 

[darwink]

Plus we get the federal hydrogen strategy today!

 

[Disraeli]

This is turning into a big week. $3 million investment by OCIF in LodgeLInk. LodeLink will lease 50,000 sq/ft in the downtown as part of the expansion

OCIF supports up to 300 new tech jobs in LodgeLink's 600-job expansion in Calgary

/CNW/ - The Opportunity Calgary Investment Fund (OCIF) will provide up to $3 million to support the rapid scaling of Calgary-based LodgeLink Inc. with the...

www.newswire.ca

some more VC news:

Construction tech startup Falkbuilt raises $14 million CAD Series A | BetaKit

Calgary-based construction tech startup Falkbuilt, has raised $14 million CAD in Series A financing.

betakit.com

and Benevity gets its billion dollar valuation

British private equity investor Hg to acquire controlling stake in Benevity | BetaKit

Private equity firm Hg has reportedly acquired a controlling stake in Calgary-based corporate social responsibility software startup Benevity.

betakit.com

 

[Morshed]

Alberta sees largest population growth in Canada...population growth is needed right now to boost the economy.

 

[Urban Outdoorsman]

Alberta sees largest population growth in Canada...population growth is needed right now to boost the economy.

Slightly surprising but good to hear nontheless

 

[Mountain Man]

Good to see some tech companies starting to do well, despite the UCP's obsession with going backward.

 

[Morshed]

Good to see some tech companies starting to do well, despite the UCP's obsession with going backward.

The reason tech companies are expanding in Alberta is the UCP tax breaks and incentives, they are creating a friendly environment for corporations. Lots of incentives for the filming industry and tourism as well

 

[Nimbus]

That would be the same incentives they at first walked back right?

They crapped up the Film/TV incentive too, have they fully reversed that?

 

[zagox]

Alberta sees largest population growth in Canada...population growth is needed right now to boost the economy.

The article says this is for two reasons:
1) international students left (AB has fewer of them per capita than other big provinces)
2) very little migration, so remaining increase due to births>deaths (AB has a younger population that is having more kids)

 

[darwink]

The reason tech companies are expanding in Alberta is the UCP tax breaks and incentives, they are creating a friendly environment for corporations. Lots of incentives for the filming industry and tourism as well

The incentives for small and start-up companies are now among the best designed ones in the world imo. But you have to acknowledge, those incentives have not yet begun - they start on Jan. 1. https://www.alberta.ca/innovation-employment-grant.aspx

The companies doing big raises now have been around for many years - nurtured by previous governments, not the UCP.

 

[JonnyCanuck]

IHS Markit: Oil Demand Won't Fully Recover Until 2022 | OilPrice.com

Global oil demand will likely take another year or so to return to pre-pandemic levels—by late 2021 or early 2022 according to energy expert and IHS Markit vice chairman Daniel Yergin

oilprice.com

Danel Yergin, a world renowned energy expert, is not expecting a full recovery in demand anytime in 2021. He is pointing to 2022. Two interesting notes though:

1. He does not think U.S. shale oil production will ever get back to the levels of pre-pandemic. That ship has sailed.
2. He is still predicting 2030 as peak demand for oil. That means 9 more years of steady growth worldwide. Even after peak, the drop in demand will be gradual.

Forget what the environmental activists are saying and want to believe about the immediate demise of the industry (looking at you Elizabeth May), this bodes well for Canadian oil companies. If we can get those additional pipelines operational, the LNG plant up and running, and governments firmly focused on energy exports; we could see a renaissance in oil and gas (dare I say 'boom') by the middle of the decade.

 

[darwink]

Even with an earlier peak and faster decline, it still isn’t the world of deep green fantasy.

if new incremental production is economic with ccs, hydrogen rich gas, air flooding, bacteria and nano particle aided production, etc, etc. Perhaps. I doubt we will see a big new plant though.

 

[JonnyCanuck]

I would agree that it is hard to envision a new oil sands plant getting built. Incremental production would probably have to come from less 'carbon intensive' producers like the MEG and Whitecaps. I don't know what kind of reserves those companies have. I realize their production capacity is small compared to Suncor and CNRL.
However, if demand for our oil goes through the roof in the next 5 years, you never know. Obviously that spike would have to come from both the U.S. (as their reserves dwindle) plus other countries we currently are not selling to.

 

[heightjunkie]

Wildly optimistic to hope for a canadian oil boom within 5 years. Even so, a "boom" wont be the same as last time as you've already identified it is unlikely massive new projects (plants) are undertaken. The construction and spin off going wild is important to the "boom".