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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). It is situated at the confluence of the Bow River and the Elbow River in the south of the province, in an area of foothills and prairie, about 80 km (50 mi) east of the front ranges of the Canadian Rockies.The city anchors the south end of what Statistics Canada defines as the "Calgary–Edmonton Corridor".While the oil and gas industry comprise an important part of the economy, the city has invested a great deal into other areas such as tourism and high-tech manufacturing.Over 3.1 million people now visit the city annually for its many festivals and attractions, especially the Calgary Stampede.The subsequent drops in oil prices were cited by industry as reasons for a collapse in the oil industry and consequently the overall Calgary economy.
During these boom years, skyscrapers were constructed and the relatively low-rise downtown quickly became dense with tall buildings.
Originally named Fort Brisebois, after NWMP officer Éphrem-A.
Brisebois, it was renamed Fort Calgary in 1876 by Colonel James Macleod.
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.
The Elbow River flows northwards from the south until it converges with the Bow River at the historic site of Fort Calgary near downtown.
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.