Calgary's tech workforce surged by over 61% between 2021 and 2025, while in New York City, a garment manufacturer pivoted to produce essential PPE, securing critical contracts. Calgary's tech workforce surge positioned the city among the world's Top 50 emerging startup ecosystems by 2025, according to Calgary Economic Development. The city's tech ecosystem value grew by 115% over the past five years, indicating significant economic momentum.
City economic growth is often attributed solely to large-scale tech booms, but the resilience and innovation of individual small businesses are equally crucial for sustainable local development. This tension suggests a fundamental difference in how cities measure and prioritize economic development, with some focusing on attracting massive capital while others invest in the foundational stability and adaptability of local entrepreneurs.
Cities that strategically invest in both high-growth tech ecosystems and targeted support for diverse small businesses will likely see more robust and equitable economic futures. A dual approach of investing in high-growth tech ecosystems and targeted support for diverse small businesses fosters both rapid sector expansion and foundational business strength, demonstrating that economic dynamism is not monolithic.
Two Engines of Urban Economic Reshaping
Calgary's startup ecosystem generated $7 billion in ecosystem value between July 2023 and December 2025, demonstrating the substantial financial impact of its burgeoning tech sector, according to Calgary Economic Development. In parallel, Platform member companies secured $323.9 million in investment in 2025, signaling robust investor confidence in innovative local startups reshaping the city economy in 2026. The $7 billion in ecosystem value and $323.9 million in investment represent the macro-level capital attraction driving economic growth.
Simultaneously, traditional small businesses like Infinite Wave Inc. a Latino-owned garment manufacturing business led by Alexander Campaz, illustrate grassroots resilience. This company pivoted to produce essential PPE gowns during the COVID-19 pandemic, securing procurement contracts and collaborating with other factories in New York City, as reported by Empire State Development (ESD). Similarly, Maria Flores Daycare, owned by Maria Flores, received commercial lease assistance, access to capital, and business workshops through the New York State COVID-19 Pandemic Small Business Recovery Grant program via WHIDC, highlighting the importance of targeted support for individual entrepreneurs.
