Issue #34

April 12th, 2021

Join us – share and network, discover and learn

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What to expect – post-pandemic!

INVITATION FRIDAY – Zoomed webinar this week 4PM MT April16th

COPY THIS – https://us02web.zoom.us/j/85896241732

APRIL – Alberta’s Economic Resilience – PLEASE COMPLETE HERE

https://www.surveymonkey.com/r/MBJFXB8

To view former webinars CLICK HERE

Alberta’s economy may be diversified, but is it resilient? That is, how well are Alberta’s Regions weathering the economic downturn and what should we expect post-pandemic?  These questions and more will be the focus of this week’s webinar featuring panelists from the Calgary Region, Edmonton Region, and elsewhere. The Presentation, follow-on discussion, and open audience Q&A will reveal how well the Regions are faring today and the Regions’ futures – their vision and leadership. 

By month’s end we will have your perspectives to share as derived from the survey HERE

Todd Hirsch, ATB

PRESENTION.  Five Economic Truths to Unlearn: Alberta’s economy post-pandemic

Todd Hirsch is the Vice President and Chief Economist for ATB Financial. He holds degrees in economics from the University of Alberta and the University of Calgary. He’s worked as an economist at numerous organizations including the Canada West Foundation and the Bank of Canada.

​He’s also the author of four books. His latest, Spiders in COVID Space: Adapting during and after the pandemic was released in March 2021. Todd serves on the boards of the Glenbow Museum and the Alberta Ballet.​ He is also an advisor to the Chiu School of Business at Bow Valley College.

Dee Ann Benard, Rural Development Network

PANELISTS/ RESPONDERS

Executive Director for the Rural Development Network: Alberta.  Experienced Executive Director with a demonstrated history of starting and growing not-for-profit organizations.  Skilled in Organizational & Financial Management, Board Governance, Advocacy, Government & Client Relations, and Program & Business Development. Former Board Member of the Agriculture and Food Council of Alberta, Executive Director of Agricultural Research and Extension Council of Alberta, and Research Scientist/Business  Development with Alberta Innovates. Received her MSc and BSc from Simon Fraser University in Plant Pathology and Biology respectively.

Mary Moran, Calgary Economic Development

Mary became President and CEO of Calgary Economic Development in 2015. Under her leadership there has been greater focus on Calgary’s competitiveness in the new economy; including the areas of talent development, innovation, placemaking, and the business environment.  Mary has brought extensive leadership experience in the development of strategy, marketing, stakeholder relations and fund development with leading companies. At Calgary Economic Development, Mary is the CEO of the Opportunity Calgary Investment Fund, a board director of the Calgary Film Centre, and was CEO of Calgary 2026 Bid corporation developing and promoting a bid to host the Winter Olympic and Paralympic Games. Mary earned an MBA from Royal Roads University. She is active in the Calgary community and serves as a director for the Calgary Petroleum Club, O’Brien Institute for Public Health and is the Chair of Sport Calgary.

Malcolm Bruce, Edmonton Global

Malcolm Bruce is a visionary executive with a progressive career in leadership who is leading the development of the new regional investment & trade company – Edmonton Global. By drawing on his proven ability as a strategic planner and team builder, Malcolm is promoting the Edmonton Metropolitan Region as the business location of choice for global investment. Built collaboratively on regional assets, who collectively strengthen the Edmonton Metropolitan Region’s global competitiveness, growth and innovation, Edmonton Global is focused on promoting investment & trade for the Edmonton Metropolitan Region (EMR) on the global stage.

Eleanor Miclette, Canmore Economic Development

Eleanor Miclette the Manager of Economic Development for the Town of Canmore, previously with the County of Northern Lights. She has worked in Economic Development for the past 10 years, and prior to that in Human Resources. Eleanor was born in southern England and raised in the Netherlands where she received her bachelor’s degree of Human Resources. After moving to Canada Elanor obtained her certificate in Municipal Management and Leadership in 2016 from the University of Alberta and completed her Certificate in Economic Development from the University of Waterloo in 2017. Presently she is working towards a certificate in Municipal Government with the University of Alberta.

LAST WEEK’s WEBINAR – Is the innovation ecosystem effective?

HERE

Private pools of capital are facilitating corporate growth and preparing Canadian companies for sale.

Featuring presentations  from Amit Monga – experienced Toronto investor and entrepreneur, and Laurie Schultz – Vancouver change agent and heralded woman CEO credited with the turnaround and $1B sale of Galvanize. 

Moderated by Peter Kinkaide, CEO of Raintree Capital HQ’d in Edmonton that has raised and invested over $1.5B in Canadian enterprise.

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BACKGROUND

Highlights of the results of our last survey of Alberta’s economic resilience as conveyed by our Regional networks in the fall of 2020.

What is economic resilience and what is the best role for government in increasing Alberta’s economic resilience?:

• Primary indicators of economic resilience are corporate investment and job related measures – creation/loss, employment/unemployment, layoffs/ hirings.
• Primary role for government are in Formulating policy and employing incentives for encouraging small business innovation in addition to Promoting entrepreneurship and small business start-ups. Least was investing directly in projects offering immediate job creation.

On a scale of from 1 to 5, with 5 being economically very resilient:

• The Province’s economic resilience continues to be viewed as very weak (2.35)
• While showing some improved resilience – up from 1.95 since 2015, the Province and it’s Regions continue to be vulnerable to the economic volatility of energy – the price of oil
• All five Regions were weathering an economic downturn triggered in the spring of 2020 – when Covid hit; the downturn was most severe for the Edmonton Region

Comparing economic resilience by Regions:

• All Regions are viewed as weak with Edmonton Region the weakest and only Southern Alberta viewed as resilient

• The Calgary Region was showing signs of recovery, with the Edmonton Region lagging all others

• Comparing Regional resilience for three broad economic sectors: Industry, Professions, and Public Services:
  

• Economic Resilience was most evident for the Industrial sector and less so for Professions. Resilience was weakest throughout Public Services.
• Resilience varied considerably in the Industrial sector with Forestry and Mining most resilient and Tourism and Transportation least. 
• For Professions: Legal Services were most resilient and Infotech and Management least. 
• For Public Services all subsectors were weak: Health, Education NGOs, Government and Environment
• The Calgary Region and Others were benefitting from some recovery evident in Energy and Construction, though suffering from the significant downturn in Tourism and Transportation
• The Southern and Central Alberta Regions were benefiting from strength in Agriculture and Manufacturing
• The Northern Alberta Region was benefitting from strength in Forestry and Mining
• The Edmonton Region with a heavy concentration of Public Services was weakest of all Regions.

 Comments provided additional clarity 

• High expectations on government and issues continuing to confront the oil and gas industry
• Vision and leadership lacking for transforming Alberta’s dependence on the oil and gas industry

 FOR MORE including recommendations visit the TESTING playlist HERE