SEPARATION UNCERTAINTY PUTS CALGARY'S ECONOMIC MOMENTUM AT RISK

CALGARY, AB, Oct. 6, 2026 /CNW/ -- Alberta and Calgary enter 2027 with strong economic momentum and a substantial pipeline of investment opportunities. At Calgary Economic Development's 2027 Economic Outlook, powered by ATB Financial, experts will examine those risks alongside the global volatility, shifting trade relationships and referendum uncertainty shaping the year ahead.

With Albertans preparing to vote in a consequential Oct. 19 referendum, Calgary Economic Development cautions that prolonged uncertainty around Alberta separatism could weigh on investment and growth.

Calgary City Council recently affirmed Calgary's place "as a vital part of Alberta and Canada" ahead of the referendum. The urgent motion was put forward by Mayor Jeromy Farkas, who argued that separatism would increase economic risk and lead to the flight of capital.

"Calgary has worked hard to build an economy that is more diversified, resilient and globally competitive, but the threat of separatism undermines that momentum," said Calgary Mayor, Jeromy Farkas.

"The opportunities available to Calgarians today, and those of the generations to come, will be shaped by our ability to inspire investor confidence, attract investment and continue building a city where we are welcoming and embrace new people and new ideas."

Despite uncertainty from the referendum, Alberta enters 2027 with strong economic momentum and a substantial pipeline of investment opportunities. At the Canada Investment Summit, the province had more projects in the federal investment deal book than any other, with 27 opportunities valued at nearly $100 billion. Many align with Calgary's strengths in energy, technology, transportation and logistics, defence and advanced manufacturing.

"Calgary's place at the heart of Alberta and Canada is central to our economic strength," said Brad Parry, President and CEO of Calgary Economic Development and CEO of the Opportunity Calgary Investment Fund.

"We have significant opportunity ahead, but capital and talent have choices. Prolonged uncertainty risks delaying investment, slowing business expansion and making it harder to attract and retain the people our economy needs. Our focus must be on building confidence, improving competitiveness and giving companies and workers every reason to choose Calgary."

ATB Financial forecasts Alberta's real GDP will grow 2.6 per cent in 2026 and 2.3 per cent in 2027, compared with national growth of 0.9 per cent and 1.5 per cent, respectively. Despite stronger growth in Alberta, challenges like ongoing affordability pressures and youth underemployment remain.

"Alberta continues to weather global turbulence better than most, supported by strong energy fundamentals, expanding market access and a lighter overall tariff burden than the national average," said Mark Parsons, Vice President and Chief Economist at ATB Financial.

"The world wants safe, reliable resources, and if we can navigate current uncertainties to advance major infrastructure -- such as the Pacific Link pipeline -- there is substantial upside for both Calgary and Alberta."

The combination of interest from international investors and above-average growth could give Calgary an important advantage as Canada's major cities compete for capital and talent -- but a lack of clarity around Alberta's future could erode that edge.

Expanding energy production, higher crude prices and improved market access for oil and LNG are supporting growth, with further upside if major projects advance and attract investment. While tariffs and trade uncertainty remain major constraints across Canada, ATB Financial notes Alberta as a whole faces an overall lighter tariff touch due to energy exemptions and lower exposure to targeted goods like steel, aluminum and autos. Still, some businesses facing sectoral tariffs of up to 50 per cent will feel significant impacts.

"There are plenty of reasons for optimism for the Calgary and Alberta economies. With multiple major projects in the works, we may be soon facing the challenges of managing growth, which will require thoughtful planning. One way we can achieve that enormous potential is by demonstrating political stability and an openness to Canada and the world," said senior advisor at Bennett Jones LLP and BMO, and former Alberta Premier, the Hon. Jason Kenney.

Taking place at the BMO Centre, the 2027 Economic Outlook features remarks from the Hon. Jason Kenney, former Alberta Premier; Mark Parsons; Vice President and Chief Economist at ATB Financial; and Alberta Premier, the Hon. Danielle Smith. A panel discussion on investment uncertainty and the economic costs of separatism features panelists Candace Laing, President and CEO of the Canadian Chamber of Commerce; Martha Hall Findlay, Director of the School of Public Policy at the University of Calgary; and Sandi Gilbert, CEO of InterGen. The panel will be moderated by Jen Gerson, co-founder of The Line.

ABOUT CALGARY ECONOMIC DEVELOPMENT

Calgary Economic Development is an opportunity-maker, helping to spark and fuel Calgary's growth. Our job is to connect people with resources that can help them grow their careers or businesses, thrive in new locations or markets and feel at home in our community. We steward the economic strategy, Uplook: An Action Plan for Our Economy with the mandate to position Calgary for long-term economic success by supporting the expansion, retention and acquisition of companies, capital and talent. We offer a wealth of information to help everyone succeed and we tirelessly promote Calgary, in Canada and around the world. For more information, visit www.calgaryeconomicdevelopment.com and follow us on LinkedIn.

FOR MORE INFORMATION CONTACT:

Calgary Economic Development
Grace Fullerton
Manager, Communications
Media Line: 403-880-7040 | Email: [email protected]

SOURCE Calgary Economic Development Ltd.