New York, London, Tokyo — Edmonton? The latest Oxford Economics Global Cities Index includes our city as one of five North American metropolises in its inaugural "Top Cities to Watch." As the Financial Post noted, it's the only one from Canada, joining Boise, ID, Durham, NC, Jacksonville, FL, and San Antonio, TX as places that share "productivity-led growth, an ability to move up the value chain, and their increasing strength in attracting innovative businesses and the highest-skilled workers." The report notes that Edmonton's strengths in the "volatile" oil and gas sector are supplemented by strong diversification, particularly out of the University of Alberta and the public sector. Usual suspects such as the forthcoming pipeline to the West Coast, acting as Canada's festival city, and housing affordability contributed to the ranking. Notably, Oxford projects Edmonton's population and workforce will be the second-fastest growing in Canada and the United States over the next five years.
The designation seemingly applies to the metropolitan region, as Oxford lists our population as 1.7 million. (In January, Edmonton Global tracked Statistics Canada data from July 2024 and 2025 that indicated Edmonton was Canada's fastest growing metropolitan area.) Other key figures in the Oxford report list the region's GDP at US$81 billion, or $48,200 per person. Edmonton's strongest ranking among six pull-out scores is governance, at 61st among 1,000 cities ranked. Edmonton's "archetype" in the report is that of an "industrial hub." Although the forecaster cites housing affordability as a plus, it also lists "high housing expenditure" as a weakness.
Oxford Economics was founded in 1981 out of Templeton College, a constituent college of the University of Oxford. It has since been described as one of the foremost global advisory firms, having measured civic economies for more than two decades and publishing its cities index annually since 2024. All of the cities in the global top 20 are in the U.S., Asia, or Europe, with Edmonton ranking 125th among 1,000 cities. Although they were not deemed as "top cities to watch," other Canadian cities outranked us on the full list, with Toronto in 20th place, Vancouver in 24th, Montreal in 62nd, and Calgary in 69th.
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Economic development
Five former Edmonton mayors — Amarjeet Sohi, Don Iveson, Stephen Mandel, Bill Smith, and Jan Reimer —addressed issues facing the city, such as homelessness, downtown safety, and infrastructure, at an event put on by BOMA Edmonton and North on Sept. 15. Iveson lamented the ongoing homelessness crisis and its effect on people's perception of safety downtown, while Mandel criticized the current administration, calling downtown a "crap hole" and urging city employees to return to work at downtown offices. Current Edmonton Mayor Andrew Knack responded to Mandel's criticism, saying that differing opinions are natural in politics and emphasizing the ongoing efforts to address Edmonton's challenges through planning and community involvement. Iveson later added that the "Edmonton is Broken" narrative just makes things worse. "Respectfully, I'd suggest it's time to break the negativity cycle and try something different," he wrote.
Edmonton Global and Alberta's Ministry of Jobs, Economy, Trade and Immigration hosted the annual Edmonton Region Export Meet-Up at The Bell in Scona. The event brought regional companies and organizations together to discuss export opportunities and new markets.
The Government of Alberta is investing more than $25 million in the University of Alberta to create more than 1,100 additional seats in education, health care, science, and engineering programs, aimed at addressing labour shortages in Alberta's urban and rural communities. NAIT also received funding to add more than 170 seats.
Ottawa has approved a $76-million emergency loan for Edmonton-based Flair Airlines amid high jet-fuel prices. The bailout must be repaid within four years at below-market interest. Meanwhile, Flair and Lufthansa Technik announced a 15-year partnership that will see the airline's engines repaired in Calgary. The airline previously relied on three international facilities for the work, CEO Leo Corrado told CityNews.
Major projects and investment
Alberta Premier Danielle Smith sought backing for 34 major projects, each worth $200 million or more, at the Canada Investment Summit in Toronto, though some observers questioned whether the Oct. 19 referendum would give investors pause. Edmonton Chamber of Commerce vice-president Heather Thomson said investment "will go where their dollars are safe," while C.D. Howe Institute fellow Yves Giroux said investors should be reassured by polls suggesting that most Albertans want to remain in Canada.
Capital Power CEO Avik Dey said turning investor enthusiasm into final investment decisions at the Canada Investment Summit will be the real challenge, citing the need to cut through federal regulatory layers. That said, he was encouraged. "I've been in finance and energy my entire career, working around the globe, and I've never seen a room like that assembled last night of Canadian business leaders, policymakers, the federal government," he told The Globe and Mail. "It was very inspiring as a Canadian to be in that room." Capital Power's proposed multibillion-dollar expansion of its Genesee power station in Leduc County was among the projects on the summit's prospectus.
At the Carbon Capture Canada conference in Edmonton, Pathways Alliance president Kendall Dilling said Prime Minister Mark Carney's newly announced "productivity mega deduction," which lets businesses deduct the full cost of new equipment in its first year of use, could help attract investors to its long-delayed oil sands carbon capture and storage project. Dilling said the decade-long timeline to build the project has been a hard sell to investors. Alberta Energy and Minerals Minister Brian Jean said the province aims to reach a final agreement with the alliance by mid-November. The conference also heard from Deep Sky CEO Alex Petre, who said her company is working to prove early critics wrong about direct air capture technology, building on positive signs at Deep Sky Alpha near Innisfail.
At the Alberta's Industrial Heartland Association conference, Meta said its planned $13-billion data centre in Sturgeon County would support 3,000 construction jobs and 300 permanent positions. Meta community engagement manager Matt Sexton said the company has already contracted much of its workforce within Alberta. "It's really incumbent on the company to be a part of the long-term solution to domesticate, and recruit and retain talent here," he said. Sturgeon County Mayor Alanna Hnatiw called the broader conference "another inspiring event," citing local investments and global sector forecasts. The conference also prompted ATB Financial economist Rob Roach to take a look at economic development in the Heartland, noting a marked increase in capital spending in the chemical manufacturing sector.
Zero Point Cryogenics CEO Christopher Cassin argued that Canada's CANDU nuclear reactors could give the country a growing, self-sufficient supply of helium-3, the rare isotope needed to cool quantum computers to near absolute zero. He called for Ottawa to treat it as a strategic critical resource. Most of the world's helium-3 comes from tritium produced by nuclear weapons programs, but Cassin said Canada's civilian reactors offer an alternative source that could expand rather than shrink over time.
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Artificial Agency has found a client for its behaviour engine in Owlchemy Labs, a Google-owned studio based in Austin, TX. The Edmonton-based AI company's technology will make it possible for a single human player to collaborate with several "human-like AI agents" when playing Dimensional Double Shift, a game that is expected to ship in the first half of 2027. "By closing the reality gap between what the agent believes and what is actually happening, we can train very small, game-specific models that deliver responsive, adaptive gameplay beyond what scripting can achieve, at a cost developers can ship," Artificial Agency co-founder and CEO Brian Tanner said in a release.
Zach Prusko started hi finance after he missed out on $15,000 in grant funding as a student; the company now counts 3,000 clients and distributed $4 million in student funding last year. The company expanded to Ontario this month and plans to reach 21 more campuses this year and 50 by next year.
Stephanie McCabe, president of Knower Tech, was named to WXN's Top 100 list. She left her role as deputy city manager for Edmonton to build the company, which gives independent ad agencies technology tools to compete with larger rivals.
The Alberta government unveiled 23 new "Welcome to Alberta" signs produced by Edmonton-based Blanchett Signage Solutions with Canadian materials. The $2.3-million project replaces signs that were about 40 years old and adds reflective materials, faux wood panelling, a wild rose, and the slogan "Strong and Free."
Sawmill Restaurant Group will mark its 50th anniversary with November galas in Edmonton, Leduc, Stony Plain, and Grande Prairie, with 100% of each $99 ticket going to a charitable organization selected by attendees.
Edmonton's commercial real estate spending declined in the second quarter of 2026 following a vibrant first quarter. The multi-family sector saw a drop from $648.7 million to $204.9 million in investment activity, reflecting a market absorption phase. Meanwhile, significant retail transactions occurred, with the purchase of Kingsway Mall by Montreal-based Westcliff Management, which plans minimal immediate changes, and the Edmonton City Centre ownership shift to Westrich Pacific, which will convert unused space into 1,500 residential units. Suburban retail activity remains concentrated around grocery hubs.
ACE Coffee Roasters is an example of a business doing well in downtown Edmonton, said CBRE senior sales associate Matthew Hanson. "They drive a ton of traffic, and they have a great product," he told Postmedia. "Those are groups that we're looking for in the food-and-beverage sector that can help add and bring more value to the building." A CBRE Edmonton report described restaurant departures creating vacancies while revitalization projects draw business interest. Suburban food-and-beverage spaces have seen less turnover, it added.
RENX noted the spate of insolvencies involving downtown Edmonton properties owned by ProCura Real Estate Services, including the WSP Place office tower and two adjacent surface parking lots known as the Azure and Cascadia lands. National Bank of Canada is owed nearly $10.9 million on the Azure and Cascadia lands, while MCAP Financial Corporation is owed more than $44.6 million on WSP Place. Court-ordered sales processes are underway for both.
The Oct. 19 referendum is unlikely to be a major headwind for Edmonton's resale real estate market in the coming weeks, said Tom Shearer of Royal LePage Noralta Real Estate, though it may cause some prospective buyers and sellers to wait for the results, particularly out-of-province buyers. Edmonton's resale market has been cooling, with July home sales down nearly 8% month-over-month and 11% year-over-year, while the average price of about $475,000 has held roughly flat, according to REALTORS Association of Edmonton statistics. Calgary Real Estate Board chief economist Ann-Marie Lurie said declining international migration, driven by federal cuts to immigration levels, has affected both cities' markets more than referendum-related uncertainty.
Edmonton-area realtors gathered for their annual RAECon conference, where much of the discussion centred on the balanced housing market that has emerged. Chris Hedstrom, chair-elect of the REALTORS Association of Edmonton, said a balanced market — typically three to five months of inventory — gives buyers more time and choice than a seller's market does.
Edmonton city council is set to debate tighter lodging-house rules to make it easier for bylaw officers to identify illegal ones. The proposed bylaw would define a lodging house as a dwelling with three or more bedrooms rented individually, and it would cap the number of bedrooms allowed per lot.
St. Albert city council is considering bylaw changes to boost infill development, allowing increased residential growth along St. Albert Trail, and introducing skinnier homes with single driveways in low-density neighbourhoods. The city's planning branch highlighted the need for diverse housing options amidst population decline in over half of the city's residential areas. Proponents argue that this will support walkability and transit use, while opponents cite traffic and infrastructure concerns. Council is set to continue the discussions on Oct. 6.
Budget asks
Alberta Ecotrust Foundation vice-president Mike Mellross hopes the City of Edmonton will contribute $10 million toward two unfunded climate service packages and a more formal partnership as part of the 2027-2030 budget process. The service packages support existing work from the foundation, allowing it to scale up its work to help the city catch up on its climate goals.
Sport Edmonton CEO Evan Daum plans to seek about $1.1 million annually from the city as part of the next four-year budget, which would let the organization issue grants, hire staff, and study the impact of community sport. Sport Edmonton's current per-resident funding of 19 cents lags well behind other Alberta cities, Daum said.
The Stony Plain Road Business Associationhired outreach navigators with an $81,000 enhanced services grant from the city to help people in vulnerable situations, build "dignity kits," and advise businesses on addressing social disorder. The program's continuation depends on the outcome of the city's next four-year budget deliberations.
In an opinion piece for Rat Creek Press, the Alberta Avenue Business Association proposed a "Social Mobility Index" for 118 Avenue, arguing that the city should track whether main-street businesses survive their first five years and whether local jobs pay a living wage, alongside existing measures like building permits and hotel occupancy. The group also asked for a "BIA-led economic development function" and taxes on vacant commercial properties.
Alberta users have rescued more than one million meals through Too Good To Go since the surplus-food app arrived in the province in 2022, the Denmark-based company said, with about one in eight Edmonton users saying the app introduced them to a business they hadn't tried before.
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