The City of Calgary
For most individuals, Calgary is a network city in Canada. Perhaps, this is because of the many opportunities that this region has to offer. This city is situated within Alberta Canada which covers 280.5 sq miles. The city is viewed as a leader in terms of economic capabilities in this country. The population of Calgary exceeds 1, 149, 552 people. It is the largest city in Alberta in terms of the occupants. The minimum wage of this city increased recently to hit $9.75 every hour.
Many people know this city for offering high educational levels in different institutions. Actually, Calgary has 17 higher learning institutions. The University of Calgary is the largest of them. This city has 10 airports which serve the citizens. Calgary International Airport is the most active and the largest airport in the city. Calgary has many health institutions that range from the addiction centers to centers for palliative care. Having many health institutions ensures that the city provides healthcare access to everybody.
Several industries support Calgary’s economy. Oil industry is one of the major industries that support the economy of this city. The region has oil reserves that were discovered at the
These reserves led to the prosperity of this city especially in 1971. This was the year when enactment of oil embargo in the Arab world occurred. Investments were attracted into the other industries such as logistics and transportation, aerospace and film industry among others by the oil sector. The financial services sector of this city has also grown due to the establishment of different industries in the region. Financial services are a major drive of the economy of this city. Growth in the other industries was realized when oil industry returns were invested back into them.
It is worth noting that the worldwide crisis affected the economy of Calgary as well. The oil sector was the first industry to be affected by this crisis. This is because the crisis affected companies’ manufacturing capacity. Oil demand has a direct relationship with other countries’ economic activities. A reduction in economic activities reduces transportation and manufacturing activities. This causes a decrease in oil demand. The problems that the countries of the euro zone were facing worsened the situation. These countries are among the largest consumers of the product produced in Calgary.
However, the expectation was that this situation would change towards the end of the recession and that the world would enter a prosperity period. It was expected that major economies would grow in the following year which would increase oil demand. The energy industry is a highly priced asset in Calgary. This city has made remarkable efforts with an aim of combining conventional gas and oil with the contemporary sources of renewable energy.
Additional efforts have been taken to make the energy sector environmentally friendly and sustainable. Such efforts are recommendable. Additionally, all citizens of this city are incorporated in the development of the energy sector via a program that motivates local innovation. The program has been successful because Calgary’s energy industry is the leading supplier of wind and natural energy.
Calgary economic growth and development is also due to the information and infrastructural services unit. This sector ensures that that Calgary decisions are thoroughly scrutinized before approval. This unit ensures proper relationship between the six main divisions of the city and their proper functioning. The divisions include Asset Information and Mapping, Access Solutions, Geospatial Business Solutions, Engineering and Energy Services, Field Surveying Services as well as Corporate Project and Asset Management. These divisions makes regulation and monitoring of the environmental, social and economic conditions of Calgary possible.
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Calgary. “Calgary & Region Economic Outlook 2012-2017.” Calgary. 2012. Accessed February 19, 2014, http://www.calgary.ca/CA/fs/Documents/Corporate-Economics/Calgary-and-Region-Economic-Outlook/Calgary-and-Region-Economic-Outlook-2012-Spring.pdf?noredirect=1
Calgaryeconomicdevelopment. “CALGARY INDUSTRIES.” calgaryeconomicdevelopment. 2014. Accessed February 19, 2014, http://www.calgaryeconomicdevelopment.com/industries
City of Calgary. “2013 Civic Census Results.” The City of Calgary. 2013. Accessed February 19, 2014, http://www.calgary.ca/CA/city-clerks/Pages/Election-and-information-services/Civic-Census/2013-Results.aspx—. “About Infrastructure & Information Services.” The City of Calgary. 2014. Accessed February 19, 2014 http://www.calgary.ca/CS/IIS/Pages/About-land-information/About-Infrastructure—Information-Services.aspx#aim