Updating a 1960 ranch home
By the end of the decade, however, the economy was in recovery.Calgary quickly realized that it could not afford to put so much emphasis on oil and gas, and the city has since become much more diverse, both economically and culturally.The period during this recession marked Calgary's transition from a mid-sized and relatively nondescript prairie city into a major cosmopolitan and diverse centre.This transition culminated in the city hosting Canada's first Winter Olympics in 1988. Thanks in part to escalating oil prices, the economy in Calgary and Alberta was booming until the end of 2009, and the region of nearly 1.1 million people was home to the fastest growing economy in the country.When the Canadian Pacific Railway reached the area in 1883, and a rail station was constructed, Calgary began to grow into an important commercial and agricultural centre.Over a century later, the Canadian Pacific Railway headquarters moved to Calgary from Montreal in 1996.) for one cent per acre per year).The city lies within the foothills of the Parkland Natural Region and the Grasslands Natural Region. The Bow River is the larger and it flows from the west to the south.
but it did not become a significant industry in the province until 1947 when reserves of it were discovered near Leduc.As a result of this policy, large ranching operations were established in the outlying country near Calgary.Already a transportation and distribution hub, Calgary quickly became the centre of Canada's cattle marketing and meatpacking industries.The nearby mountain resort towns of Banff, Lake Louise, and Canmore are also becoming increasingly popular with tourists, and are bringing people into Calgary as a result.Other modern industries include light manufacturing, high-tech, film, e-commerce, transportation, and services.