IT’S TIME FOR CALGARY TO SHAKE ITS ECONOMIC COMPLACENCY
The city needs to take inspiration from its past to revive its risk-taking mentality
A recent Financial Times of London article made the convincing argument that smaller cities, not the major centres, will contribute to economic growth and wealth creation over the next 25 years.
Calgary can, and should, be part of that movement.
The thesis of the argument is simple.
When the Berlin Wall fell, reuniting East and West Germany, rent on the east side of town was, well, cheap like Borscht.
That affordability drew young talent from across Europe, and now, anyone who has travelled to Berlin has seen the city’s vibrant and creative urban landscape.
Big, impersonal urban settings are losing their lustre as the younger set seeks a quieter yet fulfilling existence.
Recent studies in the United States show the pull is increasingly toward cities of 500,000 to one million people, where there is enough stimulation and infrastructure to mirror larger centres, but without the expense and traffic.
YYC fits into that sweet spot. Sure, it’s a tad larger than one million people, but that doesn’t matter.
We have talent, affordability, and offer an enviable quality of life with global airline connections. Where we might be lacking is when it comes to amenities and infrastructure. That includes everything from inadequate transit to outdated sporting infrastructure and the lack of an art gallery that can attract travelling exhibits.
Cities with reach targets think about what’s needed to attract new talent. It’s often said a company without debt lacks a vision for the future. The same can be said for cities, though, as with everything, a prudent balance is needed.
Edmonton is doing a better job in this department than Calgary today. It boasts a ring road, a new arena and art gallery and a museum is under construction.
Calgary can’t tick off any of those boxes. Heck, we can’t even get an LRT line built to a new major hospital in the city’s southwest, which is nothing short of shameful. Instead, all that happens is we complain about cost and don’t think enough about the long-term benefits that come with bold infrastructure investments.
There are countless studies in the world of economics, backed by hard data, that show infrastructure investments increase economic productivity, which in turn, boosts economic growth.
And yes, Calgary, that includes figuring out how to get on board with new sporting infrastructure. One reason for that growth hap- pening in mid-size U.S. cities is because they’re seen as amenityrich.
There is no question Calgarians want to see the Calgary Flames’ ownership group dig a little deeper into their collective pockets to get a new arena off the ground. In return, those individuals need commitments that such ambitious projects will proceed, with minimal risk.
In the best of all possible worlds, that would include a new football stadium/field house. Anyone at last week’s pre-season opener of the Calgary Stampeders are only too aware of how poorly McMahon stacks up relative to similar venues across the country.
An important part of Calgary’s infrastructure that remains in limbo — and also affects the tax base — has to do with flood mitigation plans. The fact that it’s been four years since the flood and nothing has happened to address this very important issue is not only frustrating for those who are exposed in the flood plain but also simply unacceptable.
A recent court ruling puts the onus on federal Environment Minister Catherine McKenna to decide if a public review panel will conduct an environmental review of the project.
There was a time when Calgary had some chutzpah — even as economic times were tough. That was when the bid for the 1988 Olympics was made — and won. The infrastructure built for that event continues to pay dividends — big ones — to this city under the stewardship of WinSport. (In the spirit of full, true and plain disclosure, I serve as a director on the WinSport board). It put Calgary on the international sporting map.
Go to Italy, and when you tell them you’re from Calgary, the response will be a nod, followed by ‘si’ and the inevitable — ‘Alberto Tomba.’
Somewhere along the way Calgary has lost that pluck. Was it complacency, thanks to robust economic times? That good enough was, well, good enough? That attitude will not attract the new talent and businesses that will diversify Calgary’s economy.
We need to dig deep — now — and look back a few decades for the inspiration to revive the visionary mindset and risk-taking mentality that once characterized YYC.
We have rested on our laurels for too long.