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She also pointed to a CED study last year that found companies across the province will spend $18.4 billion on digital transformation initiatives across various industrial sectors by 2022.
CED expects the number of local technology companies to at least double by 2030, while the sector creates almost 50,000 new jobs in Calgary over the next decade.
“The offence strategy is about diversification, but it’s also about digital transformation,” Moran said in an interview.
Economic growth in 2021 will also come from areas such as agriculture, health care and clean energy technology, said ATB chief economist Todd Hirsch.
“We need to embrace the fact that the world has changed,” Hirsch said after the event.
“We need to stop trying to get back on track. What we need to do is forge a brand new track.”
The track has to make sure unemployed Calgarians aren’t left behind. Thousands of people need a steady paycheque. Access to education, retraining and economic supports will be critical.
Mayor Naheed Nenshi said even if the city’s GDP increases next year, he’s concerned it will bring a jobless recovery along with it.
“The work we do in Calgary needs to be singularly focused on good, decent jobs,” he said in an interview.
Finally, here’s a positive economic note, even with fierce headwinds rocking the city.
“We do see 2021 as the start of a consistent recovery period,” said Goucher.
“We see conditions essentially improving on all fronts and it should lead to a stable recovery in Calgary from 2021 and on.”
After a gruelling 2020, the recovery can’t get here soon enough.
Chris Varcoe is a Calgary Herald columnist.
