Study shows Calgary climbs to top of corporate ladder
A new Fraser Institute study shows when adjusted for population, Calgary in Alberta is by far the Canadian leader in the concentration of corporate headquarters, with 6.0 corporate head offices per 100,000 people in 2010, double that of Toronto.
This concentration in the country's oil heartland is important because of the spin-off effects associated with corporate headquarters. Support professionals such as lawyers, consultants, and accountants tend to establish themselves near these headquarters and create a larger professional community, a greater concentration of knowledge, and easier access to high quality services for other companies nearby.
The Fraser Institue study showed Calgary’s concentration is double that of Toronto, which had 3.0 corporate head offices per 100,000 people. Montreal had 2.1 corporate head offices per 100,000 people. Vancouver was fourth among the cities with 2.0 corporate head offices per 100,000 people, and Winnipeg had 1.9 corporate head offices per 100,000 people.
When not adjusted for population Toronto was overwhelmingly the dominant location for corporate headquarters in all three years examined. In 2010, 35.0% of corporate headquarters for Canada’s top 500 corporations were located in Toronto. Montreal ranked second, Calgary third, Vancouver fourth, and Winnipeg last.
MINING.com reported earlier in September how Fort McMurray is grappling with oil sands expansion with the community’s population growing 80% since 2000. More than 32% of the district’s 104,338 residents are under the age of 25. The birth rate in the city has also soared – rising from 600 per year in 2005 to 1,200 in 2009 and 2010. As more people come to Fort for the work a growing oil sands sector will bring, the number of births will continue to rise.