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Calgary & Alberta Economy

gsunnyg said:
She voted for in 2018. Practically every councilor voted against more greenfields in the most recent round. But, the part that gets to me the most is not even the fact they approved some new communities but instead the council set up a second session that year to vote for the extra communities on top of the 8 or so presented initially. All in the backdrop of the planning committee recommending 0 new communities. The committee did cite climate change as one of the reasons for recommending against it, alongside other factors such as market demand and property taxes. It's about practicing what you preach at the end of the day.
Click to expand...
Don't get me wrong, I don't think Jyoti is as progressive as some think, but she's much better choice than Farkas, which is the reason I voted for her. How people vote on council doesn't alway reflect their overall stance on things. for example that project on 14th street in Hillhurst, Sole, I think it's called, was voted against by only two people on council...Druh, and Nenshi. Two of the biggest proponents of inner city density.
 
Beltline_B said:
Somewhat controversial being the mayor of an oil and gas city, but this is something the city needs to do, if anything just to keep up the image of becoming a progressive city
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"Climate Emergency" is an oxymoron. An emergency can't last decades. If this is a performative check mark towards #progressive, then make the meaningless gesture and move on to matters of substance.
 
gsunnyg said:
She voted for in 2018. Practically every councilor voted against more greenfields in the most recent round. But, the part that gets to me the most is not even the fact they approved some new communities but instead the council set up a second session that year to vote for the extra communities on top of the 8 or so presented initially. All in the backdrop of the planning committee recommending 0 new communities. The committee did cite climate change as one of the reasons for recommending against it, alongside other factors such as market demand and property taxes. It's about practicing what you preach at the end of the day.
Click to expand...
If Council genuinely wanted to take measures relevant to combating climate change, it would re-visit building codes to promote resliciency, ex. banning hail damage prone building materials, increasing buffers from areas with drainage issues etc. At the same time, Council would need to find ways to lower development fees to at least partially offset the increased building costs that would be passed onto homeowners.
 
2021 is shaping up to be another huge year for Calgary and Alberta for VC funding. As at Sept 2021 Alberta companies have received $480 million in funding of which $426 million went to Calgary companies.

This already exceeds the $455 million Alberta companies received in all of 2020 with 3 months to go :D

www.cvca.ca

Q3 - 2021 - Canadian VC & PE Market Overview

The voice of Canada’s private capital industry. Representing more than 270 member firms and 1,800 individuals. Fueling the growth of the Canadian economy.
www.cvca.ca www.cvca.ca
 
Out of $480 million in VC funding in Alberta…. $426 million of it is concentrated in… one city? That’s wild 😳

Like obviously good for Calgary, but what in the funny f*ck is going on in Edmonton that nothing is happening there?
 
I'm sure Edmonton's day will come. It took awhile for Calgary to start getting some serious VC activity. Hopefully it happens as having two cities with a strong tech sector can only be a good thing for the province as a whole.
 
Looks like Calgary has done well the last few quarters. Even managing to keep pace with the big three up until this last quarter.

Q4 2020
1638322166626.png



Q1 2021
1638322237896.png


Q2 2021
1638322335945.png


Q3 2021
1638322415570.png
 
Another graphic from the Q4 2021 report showing the number of jobs supported by VC funding. This is only for companies that received funding that quarter, it doesn't seem like a huge number, but when you're beating comparable cities like Ottawa and Edmonton 5 to 1 it's not too shabby.

1638323326092.png
 
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One thing not shown in the market reports is how much of Montreal/Quebec VC money comes from Quebec itself. Caisse Dejardins and Invetissement Quebec, and a couple of other Quebec based funds make up for most of the the Quebec VC money. From what I've heard Calgary gets theirs from a much broader source. Speaking of which, maybe money from the Heritage Fund can be used for VC funding in Alberta? It was always set aside for a 'rainy day' so to speak. It feels like thew rain has been rolling in for a while.
 
“If we look back to 2014, Alberta is on track to average only 1.15-per-cent growth over the decade. During the previous decade – from 2004 to 2014 – inflation-adjusted GDP growth averaged more than 3.5 per cent a year.”
www.theglobeandmail.com

Opinion: Alberta’s coffers are flush with cash from the oil sands. So why doesn’t it feel like a boom?

Almost $28-billion more is forecast to flow into Alberta’s coffers by March, 2024, compared with what was predicted in February’s budget
www.theglobeandmail.com www.theglobeandmail.com
 
Interesting survey reported on in the CBC:

Alberta bound? Only half of Canadians say they'd feel comfortable making the move​


I looked at the original data and prepared a chart like the CBC one, but I included three groups that we'd like to entice into moving here; the young, the rich and the educated. Note that these three demographic subgroups are from the entire country, so for example, looking at whether the most educated people would feel comfortable about living here, 12% of the university educated in Canada are Albertans (who are more likely to feel comfortable living here) so that 50% is an overstatement of the proportion of university educated Canadians living outside of Alberta who would feel comfortable living here.

The highly educated group substantially trailed national averages in every category by about 10%; the affluent group trailed national averages in all but one category, but only by about 3%, where the young group is pretty close to the national average, higher in 5 and lower in 5 responses.

1638824941947.png


Link to interactive version

This is vital for the long term of the economy if we are to transition to an economy where people invent things, create businesses, start services, rather than just digging up what happens to be under our dirt. Alberta's ability to attract the best and the brightest has long taken second place to attracting people who want high paying jobs in fossil fuels or conservative politics, and who want to pay two percent less tax.
 

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I fit into that 18-34 range, with most of my friends and professional connections coming from outside of Alberta - most young people I know would eagerly move to Calgary if the opportunity arose, a few already have, and a few more are currently planning it.

The general consensus is that living in Toronto or Vancouver is prohibitively expensive unless both you and a partner live together with a substantial subsidy from parents. Additionally, the Montreal job market is full of obstacles if you're an anglophone. Calgary is the logical conclusion. However, political inclinations are the most significant deterrent (thanks Kenny), with "comparatively affordable housing and the blue water of Lake Louise" being the definitive counter-argument.

I'm anticipating a large influx of young professionals moving to Calgary, mostly because it's already happening. Remote work has certainly enabled this trend.
 
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