Building Economic Diversity
How does the building industry help all Calgarians?
We all understand the possible sting of living in an area that’s dominated by one industry. When the price of oil goes down, we all suffer to one degree or another.
In the Calgary Region, and particularly in the City of Calgary, this downturn has been tough but the sting is a little less than past downturns. Over time, we’ve become more economically diverse. And, perhaps surprisingly to many, it’s the building industry that has grown enough to become a major strength for Calgary’s economy.
Certainly, we have a long way to go to slump-proof our cyclical economy, but let’s look at some numbers as reported in the Calgary Economic Development Report, “Why Calgary: Our Economy in Depth."
The Calgary Economic Development report, at 125 pages, is full of impressive facts about Calgary. It’s a pleasure to glance through and understand why, despite our latest challenges, Calgary is still a great place to build, and live.