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PRESS RELEASES

For Immediate Release
INITIAL FINDINGS HIGHLIGHT CALGARY'S REGIONAL ECONOMIC COMPETITIVENESS

C-Prosperity Leads the Way
Calgary, Alberta
(Wednesday July 18, 2001) - Promoting Calgary Inc. is pleased to announce its board of directors has received the initial findings of ICF Consulting regarding the Calgary Region's economic competitiveness. These findings are part of C-Prosperity, the cluster development initiative Promoting Calgary Inc. is leading and facilitating in cooperation with the Calgary Regional Partnership.

"The board of directors is very pleased with these initial findings, said Georgine Ulmer, President and CEO Promoting Calgary Inc. "These initial findings point to how diverse the Calgary economy has become in recent years. They further validate Promoting Calgary Inc.'s overall community economic development strategy which involves the community in positioning the Calgary Region in the new economy."

Internationally renowned ICF Consulting was selected by key stakeholders in the Calgary community to provide its expertise in developing industry clusters. As a first step, it has begun to explore the Calgary Region's economic competitiveness. Initial findings demonstrate strengths in several of the new economy sectors including information technology, geomatics, and wireless technology. At the same time, there are significant emerging competencies in other sectors including biotechnology. These demonstrated strengths are being fuelled by; strong foundations in research and development, education and training, world-class information infrastructure, an attractive entrepreneurial climate and an envied quality of life. These initial findings reveal the substantial role that oil and gas industry has played in fuelling innovation and spawning these new industries. (For statistical information please see attached)

"We have participated in cluster development initiatives around the world. More recently many regions are striving to grow and acquire new economy industries," said Rula Sadik, Project Manager ICF Consulting. "We are excited that in the Calgary Region there are real and existing strengths in the new economy sectors; in fact Calgary truly is the "new" west."

So far the C-Prosperity team has engaged over 80 regional organizations in this initiative and has been met with a positive response. The next steps include a competitive analysis of the Calgary Regional economy, which includes a determination of the regional clusters, and a process to ensure the long-term implementation of the initiative.

"Around the world, regions such as Calgary, have discovered that a cluster competitiveness strategy increases their employment, disposable income and GDP," said Jim Gollub, Senior Vice President ICF Consulting. "By focusing on implementing well-defined collaborative actions, improvements are set in motion that lift the entire economy, rendering it more adaptable over time."

About Promoting Calgary Inc. Promoting Calgary Inc. is recognized for its leadership in providing the overall vision and direction for community economic development in Calgary. Established in 1999, its area of expertise is two-fold. It has crafted "Calgary's Community Strategy for Sustainable Prosperity" an innovative plan designed to position Calgary for the future and to manage its economic prosperity more strategically; it is also the lead marketing agency for promoting Calgary as a world-class community.

It developed the "Heart of the New West" brand and coordinates the city funded promotional authorities: Calgary Technologies Inc., Calgary Convention Centre Authority, and the Calgary Convention and Visitors Bureau.

For more information visit: www.calgary-promote.com.

For more information please contact:
Nancy Toombs Promoting Calgary Inc.
Ph: 221-7870
E-mail: nancy

FACT SHEET
CALGARY'S REGIONAL ECONOMIC COMPETITIVENESS
INITIAL FINDINGS

Wireless
Calgary's annual employment growth rate in Wireless Telecom between 1990 and 2000 was 10.2 % compared with 1.22% for all of Canada

Tourism and Arts
Calgary's annual employment growth rate in Tourism and Arts between 1990 and 2000 was 6.3% compared with 3.15% for all of Canada

Transportation and Logistics
Calgary's annual employment growth rate in Transportation and Logistics between 1990 and 2000 was 4.98% compared with 2.53% for all of Canada

Information Technology
Calgary's annual employment growth rate in Information Technology between 1990 and 2000 was 12.58% compared with 9.28% for all of Canada

Oil and Gas Calgary's annual employment growth rate in Oil and Gas between 1990 and 2000 was 1.55% compared with 1.73% for all of Canada

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March 9, 2000
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