Latest news with #CalgaryEconomicDevelopment
CTV News
4 days ago
- Business
- CTV News
Province announces $2.8M to help entrepreneurs grow businesses as trade war causes uncertainty
Canadian businesses continue to negotiate the uncertainty of the trade war with the U.S. It's caused a slowing of the economy and it's impacting entrepreneurs. The province has announced $2.8 million in funding toward the Calgary Economic Development's (CED) Trade Accelerator Program (TAP). The initiative helps small to medium-sized businesses grow and reach international markets. The funding will continue TAP for another five years, with the hope it helps up to 650 companies. 'The future of Alberta is bright. We have a premier and government that are laser-focused on removing red tape and expanding trade relationships within Canada and around the world,' said Joseph Schow, Minister of Jobs, Economy, Trade and Immigration. The announcement came as Deloitte Canada released its latest outlook, saying the economy should be able to avoid 'worst-case' scenarios from the trade war. That doesn't mean the Canadian economy gets off scot-free. Deloitte predicts a modest recession to hit in the second and third quarters of the year as uncertainty and weakness caused by tariffs start to bite. The province has announced $2.8 million in funding toward the Calgary Economic Development's Trade Accelerator Program. The province has announced $2.8 million in funding toward the Calgary Economic Development's Trade Accelerator Program. That uncertainty is worrisome for Calgary puzzle-maker and StumpCraft founder Jasen Robillard. 'We've been dealing with the chaos as a result of the tariffs,' said Robillard. 'We're a luxury product in a sense, and so when disposable income decreases or economic uncertainty manifests, people are more clingy with their hard-earned dollars.' The Deloitte report suggests energy-producing provinces like Alberta will lead the economic growth expected next year. With files from The Canadian Press
Calgary Herald
4 days ago
- Business
- Calgary Herald
Alberta commits $2.8 million to small- and medium-sized businesses
A $2.8-million investment in the Trade Accelerator Program aims to help Alberta-made companies and businesses expand their reach to markets around the world. Article content In an announcement on Wednesday, the Minister of Jobs, Economy, Trade, and Immigration Joseph Schow announced the province's commitment to help Alberta's small- and medium-sized businesses and companies expand their reach into international markets. Article content Article content Article content TAP was established nationally in 2017, with Calgary Economic Development administering the program within Alberta in 2018. Article content Article content Over the last seven years, 550 Alberta-based businesses were provided with knowledge, mentorship and resources to help their ventures grow and reach international markets. Article content 'This means bigger revenues, and more jobs for Albertans across the province,' Schow said. 'And of course, we get to showcase Alberta's economic success to the rest of the world.' Article content Schow said the province values small businesses and wants to see them succeed beyond Alberta's borders. Article content 'Our government is fulfilling a gap to fund the Trade Accelerator Program by providing Calgary Economic Development with $2.8 million,' he said. Article content The investment will continue to support TAP for the next five years. Over this period, the program is expected to assist 650 more companies, while expanding services and resources for businesses looking to grow. Article content Article content 'Increasing trade is a priority for our government, which is why we are helping small- and medium-sized businesses grow,' Schow said. 'More than ever, we need to diversify our global trade and give businesses the tools they need to succeed.' Article content In return, Schow said Alberta will see more jobs, investments, and a stronger economy through programs like TAP. Article content 'Those are businesses that supply families with good, mortgage-paying, grocery-buying, sport fee-paying jobs,' Schow said. 'Those are supporting families right here in Calgary, right here in Alberta.' Article content By doing their part to empower small businesses, Schow said the province sees great things happening from their success. Article content President and CEO of Calgary Economic Development, Brad Parry, said this is an important step forward in helping local Alberta and Calgary businesses grow, scale and compete on a national and global scale.
Edmonton Journal
6 days ago
- Business
- Edmonton Journal
'Significant demand': Canada's aviation and aerospace industries may be short 55,000 workers by 2035
'We're excited for aviation in Alberta. We think it's a great opportunity to diversify — these are excellent careers,' said Josh Brewster, associate dean of aviation and technology at SAIT Article content Growth in the aviation and aerospace sector and an aging workforce could lead to labour shortages over the coming decade. In Alberta, revenue from the aerospace sector is projected to hit $4.73 billion by 2030, while employment grows by 60 per cent, according to Calgary Economic Development. Article content Canada is projected to face a shortage of 42,000 to 55,000 aviation workers by 2035, according to the Alberta Aviation and Aerospace Council. Article content Aerospace and aviation, and defence sectors are seeing a lot of movement, said Nicole Holinaty, vice-chair of the council, which represents the industry in Alberta. 'There's a lot of opportunity for Alberta to really be the leader across Canada,' she said on Thursday. 'Labour is huge in every single subsector within aviation and aerospace. So there (are) labour shortages in every area,' said Holinaty. Aircraft maintenance engineers and pilots often have 'really huge' shortages, Holinaty said. There are also shortages for flight attendants. However, roles in the sector that people don't see, like technical record management, planning and dispatch, and others are also experiencing shortfalls, she notes. 'There's a lot of training that goes into these roles … it does take a bit of time to kind of get the lingo,' said Holinaty. 'We love acronyms in aviation, so it's like learning a different language.' Article content Article content With the current workforce aging, that knowledge needs to be passed on, she said. Aiming to spur interest in the sector, the Alberta Aviation and Aerospace Council launched its workforce development program, Alberta Aerospace Fusion, earlier this month. A partnership with Elevate Aviation, Alberta charity Careers, and the Canadian Council for Aviation and Aerospace, the program hopes to address labour gaps, particularly in supporting roles, by connecting youth aged 16 to 21 with education and internships. 'It's giving youth the opportunity to get some education and get some training in the classroom and then take that and actually put that to work through an internship,' said Holinaty. 'So our hopes are that this creates quite a rumble of interested youth.' Despite the shortage being forecast for 2035, Holinaty said, 'this is real, that this has to be addressed today.' Enrolment in aviation programs nearly doubled since 2019 The University of Calgary, Mount Royal University and Southern Alberta Institute of Technology all have programs related to aerospace and aviation. An Aerospace Innovation Hub — operated by the U of C with the help of several partner organizations — gives aerospace startups and entrepreneurs support and funding, while allowing them a place to test their technologies. Aircraft maintenance engineers and structures technicians are among those trained at SAIT's Art Smith Aero Centre, located at the Calgary International Airport. They also provide diplomas in avionics technology and, more recently, certificates for remotely piloted aircraft (drones). The institution is just shy of 400 students at its aviation campus this year, said Josh Brewster, associate dean of aviation and technology at SAIT's school of transportation. Article content 'We're excited for aviation in Alberta. We think it's a great opportunity to diversify — these are excellent careers,' said Brewster. High demand for positions, particularly aircraft maintenance engineers, is being driven by companies like WestJet and Lufthansa Technik, the latter of which signed an agreement with SAIT to develop new aviation training. Lufthansa provides maintenance for WestJet's LEAP-1B engines on its fleet of Boeing 737's. In February, the two companies signed a long-term agreement valued up to US$3 billion, part of which involves the construction of a new engine maintenance facility at the airport. Aerospace and aviation programming at the school has nearly doubled since 2019, made possible through their partnership with the Government of Alberta, according to Brewster. 'Like so many industries, the aviation sector is not only growing, but it's experiencing an aging workforce and retirements. So between those two things, there's definitely a significant demand,' he said. As de Havilland looks to expand its footprint in the Calgary area, the expectation is that will further add to demand, according to Brewster. Additionally, a feasibility study is exploring a potential significant expansion of SAIT's current airport facility. Brewster was unable to provide further information about the study or which partners are involved. Latest National Stories
Toronto Sun
18-06-2025
- Business
- Toronto Sun
Diversifying trade key to building 'resilience' against U.S. tariffs: Macklem
Published Jun 18, 2025 • 3 minute read Governor of the Bank of Canada Tiff Macklem delivers a speech at a Calgary Economic Development event in Calgary, March 20, 2025. Photo by Jeff McIntosh / The Canadian Press OTTAWA — Bank of Canada governor Tiff Macklem is encouraging businesses to explore export markets beyond the United States to make the economy less vulnerable to current and future trade disputes. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Macklem, speaking to a business crowd in St. John's, N.L., on Wednesday, said it was 'very welcome news' that Prime Minister Mark Carney and U.S. President Donald Trump agreed at the G7 Summit earlier this week to nail down a new trade and security deal within 30 days. He said in prepared remarks that progress toward a new trade deal is 'encouraging,' but later said in a moderated question-and-answer period that Canada's economy faces bigger problems in an increasingly 'fragmented world.' Trade patterns were already shifting before Trump was re-elected late last year, Macklem noted, and other global conflicts are also forcing businesses to reorient supply chains. 'I really hope we get a deal, I really hope it's a good deal, but that's not going to solve all our problems,' he said. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Disruptions during COVID-19 showed Canadian firms the consequences of not having diverse supply chains, Macklem said. And he said the current trade dispute is demonstrating how vulnerable businesses can be without diverse export markets. 'Growing new markets for our exports builds scale and competitiveness. But there's an added imperative — diversification adds resilience,' he said in his speech. Macklem used Newfoundland and Labrador as a case study for his point, noting that only a third of the province's goods exports head to the United States compared with roughly three-quarters for the rest of Canada. Most of the province's oil is now shipped to Europe and other countries, for instance, and services exports are boosting the St. John's tech sector, he noted. This advertisement has not loaded yet, but your article continues below. Macklem said the rest of Canada has an opportunity, particularly among services exports, to expand trade beyond the United States. Efforts to build national infrastructure and tear down interprovincial trade barriers would also make diversifying goods exports easier, he said. The United States will always be Canada's biggest trading partner, Macklem said, but he believes the recent tariff dispute has awoken businesses and policymakers to long-standing vulnerabilities in the economy by being so focused on cross-border trade. 'This is something we've been talking about for a long time in this country,' he said during the Q&A. 'The reality is, we're just leaving money on the table by not building our own internal market, by not developing our overseas markets.' This advertisement has not loaded yet, but your article continues below. The Bank of Canada held its benchmark interest rate steady at 2.75 per cent for the second time in a row earlier this month. The central bank's next decision is set for July 30, and Macklem reiterated that future cuts could be in the cards if economic growth weakens further but inflation remains contained in the trade dispute. While labour market impacts are largely concentrated in trade-sensitive sectors so far and other industries are still showing some growth, Macklem said that, 'if demand stays soft, at some point more businesses will cut jobs.' Tracking inflation's response to tariffs is 'complicated,' the central bank head noted. A slower economy dampens price pressures but the tariffs themselves can make goods more expensive for Canadians. This advertisement has not loaded yet, but your article continues below. While the removal of the consumer carbon price helped push inflation down to 1.7 per cent in April, inflation excluding taxes was 2.3 per cent in the month, which Macklem said was 'slightly stronger' than the Bank of Canada expected. He said core measures of inflation were also showing 'unusual volatility' and 'could be firmer' than the central bank thought. Macklem pointed to higher goods prices affecting the underlying inflation figures, which could be starting to reflect new costs related to tariffs. 'The prospect of a new Canada-U.S. trade deal offers hope that tariffs will be removed. But until we have a deal, inflation will be affected by both U.S. tariffs and Canadian counter-tariffs,' he said. NHL Columnists Canada Editorial Cartoons Soccer
CTV News
13-06-2025
- Business
- CTV News
Report paints Calgary's startup ecosystem in a positive light
The 2025 Global Startup Ecosystem Report has Calgary ranked inside the top 50 cities globally when it comes to having an emerging startup ecosystem. Loading the player instance is taking more time than usual Loading the player instance is taking more time than usual In the 2025 Global Startup Ecosystem Report, Calgary was ranked inside the top 50 cities globally when it comes to having an emerging startup ecosystem. Specifically, the report cites the city's talent affordability and 'bang for your buck' for startup companies setting up shop. While the results are a positive step forward, there's still a push to keep the momentum moving. 'I think one of the big things for us is unlocking the capital. There's a lot of wealth in our city, and I think for us, what we need to see is local investors invest in local companies,' said Brad Parry, president and CEO of Calgary Economic Development. 'And the second piece for us is procurement. We need Calgary companies to buy Calgary products and services from our startup and ecosystem players.' Parry says diversifying the city's economy into sectors like life sciences and agriculture has helped make Calgary a global up-and-comer.
