Alberta's economy surges amid growth projects, but referendum looms

According to Calgary Economic Development's 2027 Economic Outlook, Alberta is expected to grow its GDP by 2.3%, far above the 0.9% growth forecast for the rest of Canada, thanks to a wave of large-scale projects. ATB chief economist Mark Parsons points to federal measures like Bill C-39 that streamline approvals and curb labour disruptions, creating a climate favorable to oil, gas and renewable investments. Former premier Jason Kenney cited upcoming lithium extraction, carbon capture, and the Pacific Link Pipeline, which together could attract tens of billions of dollars.

Brad Parry, CEO of CED, said the province is now a focal point for global investors looking westward. Yet the report also flags the upcoming referendum on Alberta's separation as a source of economic risk, with a University of Calgary analysis estimating potential costs of $50-$170 billion over five years and significant tax and wage impacts.