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Calgary Economy

Calgary is in a position to be a great city for corporations.  It has low corporate taxes, and it ranks at the top of Canadian charts for real GDP growth and labor force growth.  Because of these factors, many of the country’s biggest companies are run out of Calgary.

Oil and natural gas are the biggest of Calgary’s industries, and have been since the oil boom in the 1940s.  Imperial Oil is the largest petroleum company in the country, and it moved its main headquarters here from Toronto in 2005.  Imperial Oil is controlled by ExxonMobil.  BP Canada also makes its home in Calgary and employs some 1,400 people.  ATCO, Encana, Petro-Canada, Shell Canada, and Suncor Energy also all call Calgary home.

Tourism has become another of the city’s main industries.  It’s in a position to be the main hub for travelers going to Banff and Jasper National Parks.  Calgary is also a great destination in it’s own right, and in 2006 the city had 3.1 million visitors, more than triple the its population.

Calgary also houses major divisions of some of Canada’s top companies.  Nortel Networks, Shaw Cable, and TELUS, three of Canada’s biggest telecommunications companies, all have a presence here.  Transportation is another important industry.  WestJet, a discount airline, is headquartered here, as is the Canadian Pacific Railway.

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