From big cities to rural hamlets, Invest Alberta showcases all Alberta has to offer. We engage bold visionaries, collaborative trailblazers, and big-picture thinkers to explore more than 600,000 km² of possibilities.
Download 2023-2024 Annual ReportThis past year, Invest Alberta has had a profound impact on the province. Using a Team Alberta approach, we created long-term economic value for Albertans by spurring job creation, fostering innovation, and catalysing growth across various sectors. We leveraged the strengths of Alberta's diverse economic development ecosystem to build the competitiveness of the province on a global scale. Here are the results of our collective efforts.
Invest Alberta acknowledges we operate on the traditional territories of the First Nations, Métis, and Inuit peoples of Treaty 6, Treaty 7, and Treaty 8. We recognize the importance of Indigenous history, culture, and values in Alberta and Canada, and extend our utmost respect towards them in our work and conduct.
Global connectivity and strategic positioning. Forward-focused innovation and expedited development. First-class, tailored support and diverse, skilled talent. Invest Alberta leverages these advantages and more to attract high value, high impact investments from around the world. Here, we open doors, activate relationships, push boundaries, and guide growth.
In Alberta, opportunity stretches beyond the horizon. It's where enterprising leaders converge with foresight and intention—accessing the province's strong economy, business-friendly environment, and sophisticated talent pool—to startup, scaleup, and soar past conventional boundaries to achieve big, bold success. Invest Alberta works as the stewards, experts, and connectors to ensure Alberta is primed and positioned for the highest growth potential. Learn more about us.
Invest Alberta is focused on economic development and diversification, sustainability, and job creation.
Learn more about what Invest Alberta offersInvest Alberta:
Since inception, Invest Alberta has helped support economic development and job creation across the province.
* An announcement made by an Invest Alberta supported company, as reported in the 2021-22 annual report, has not progressed as anticipated. This development represents a $2.5 billion reduction in Invest Alberta's total committed investment value and a decrease of 4,400 jobs.
The Invest Alberta Corporation (Invest Alberta) was created to meet the need for job-creating and economy-diversifying private capital and foreign direct investment (FDI). In a time of heightened global competition for investment, the Government of Alberta developed the Investment and Growth Strategy to drive Alberta's economy by creating stability, supporting existing jobs and creating new ones, expanding business opportunities, and increasing provincial exports.
Build on Alberta's strengths and competitive advantages to create and win opportunities that make Alberta's economy the most dynamic in North America.
To lead Alberta in becoming one of the most attractive investment destinations in the world. We do this by leveraging deep industry knowledge in key growth sectors to connect investors and partners with Alberta opportunities that will build a flourishing economy.
Through its international network, and supported by deep sector expertise, Invest Alberta works collaboratively with partners to provide tailored support to companies, investors, and potential new prospects that attract significant investments and job creating economic activity across Alberta.
The Invest Alberta Corporation's Annual Report for the year ended March 31, 2024, was prepared under the Board of Directors' direction, in accordance with the Planning and Reporting Guide and the ministerial guidelines established pursuant to the Alberta Public Agencies Governance Act (APAGA) and the Fiscal Planning and Transparency Act. All material economic, environmental, or fiscal implications, of which we are aware, have been considered in preparation of this report.
"Invest Alberta has engaged more than 900 companies, resulting in nearly $20 billion in projected investments and more than 23,000 jobs."
Invest Alberta's strategic vision for economic growth and global investment attraction has yielded impressive results over the past year, thanks to a dedicated team and partners committed to advancing Alberta's economy and creating new opportunities. Guided by our core values, Invest Alberta has focused on building and strengthening partnerships with global companies, decision-makers, and agencies to showcase Alberta's unparalleled potential.
Emphasizing sustainable growth, we're not only securing investments in traditional sectors like agriculture and petrochemicals but also driving expansion in emerging fields such as technology, renewable energy, critical minerals, aerospace, bioscience, and fintech.
Our efforts are strategic and intentional, from sharing Alberta's proactive approach to climate action at the COP28 in Dubai, to bringing investors and partners together for our Investment Forum during the Calgary Stampede.
Supported by stable funding outlined in the Alberta budget, Invest Alberta is aligned with government priorities such as emissions reduction, carbon capture, utilization, and storage, post-secondary education expansion, and immigration streamlining. These priorities not only guide our work but also reflect our commitment to sustainable development.
Since its establishment in 2020, Invest Alberta has engaged more than 900 companies, resulting in nearly $20 billion in projected investments and more than 23,000 jobs. These investments not only generate economic benefits but also build innovation and knowledge locally, enriching Alberta as a place to live, work, and do business. In fact, tax revenues linked to Invest Alberta-supported investments are projected to reach $187.4 million in 2024; funds that can be invested back into Alberta communities.
As Invest Alberta continues to attract a diverse range of businesses and industries, the impact of these investments amplifies Alberta's economic status, creating a cycle of investment and growth that contribute to long-term prosperity—delivering on exactly what Invest Alberta was created to do.
R. Scott Hutcheson
"...our team delivered tailored support to potential investors during no less than 72 visits to Alberta this year."
Collaboration and partnership are fundamental to Invest Alberta's work. While it sounds simple, it's an approach that enables Alberta's government, economic development agencies, municipalities, academic institutions, business leaders, and more to make the province stand out as the best place in the world to do business.
Together, we've achieved remarkable milestones. In the past year alone, we've witnessed major projects cross the finish line, from Dow Chemical's $8.8 billion Path2Zero expansion project in Fort Saskatchewan, to Mondi's acquisition and expansion plans for the Hinton pulp mill, to the launch of the $4.3 billion AWS Canada West Region for data infrastructure. These companies, and many more, embody what it means to be Big and Bold in Alberta.
We take pride in being Canada's headquarters for visionaries and trailblazers, and a province bursting with opportunity and innovation. Whether it's tech companies like Teknol, Fortinet, and Eventcombo opening offices in Alberta, or Asian conglomerates like Sumitomo and JAPEX pursuing sustainable solutions to global challenges, investors find the essential ingredients for success. Low costs, a skilled workforce, and favourable regulations layered on top of our 'make it happen' attitude create a unique environment that sets Alberta apart.
With intentional collaboration, research-based insights, and our trademark Western hospitality, our team delivered tailored support to potential investors during no less than 72 visits to Alberta this year. Our ability to help international companies navigate the vibrant local ecosystems along with Alberta's business-friendly regulations continue to set Alberta apart from other jurisdictions—creating a gold standard for FDI attraction.
Of course, our efforts and the lasting impacts extend beyond urban centres as we empower regional prosperity through targeted initiatives and partnerships. Global investment in regions across the province has a significant impact on Alberta's economy. We're proud to celebrate that 32 percent of final investment decisions in 2023-2024 were outside of Alberta's two major cities. S3 Group and Shoppers, for example, represent significant investments that are contributing to job creation and economic growth throughout the province.
We are grateful to the companies who chose Alberta, to the Government of Alberta, and to our committed partners who help pave a smooth path to investment. Looking ahead, we will build on the momentum we've achieved since launching in 2020, with an increased focus on strengthening and aligning our efforts on supporting high impact, high value investments and prioritizing collaboration and coordination with partners to support investors. I'm confident that this is achievable with a team that consistently demonstrates agility, creativity, and dedication to our mission.
Rick Christiaanse
One of Canada's fastest-growing provinces, Alberta is where inventive ideas are turned into sustainable solutions, where challenges are transformed into growth opportunities, and where connectivity and initiative drive progress. There's a reason why businesses around the world choose Alberta. Learn more.
In 2023-2024, Invest Alberta continued to follow our global marketing strategy, expand relationships and partnerships, and see major projects come to fruition.
Over the past twelve months, Invest Alberta built on our momentum in technology and innovation with four new investments announced in this sector, totalling more than $416 million. Investors from every corner of the world are taking notice as Alberta is quickly becoming a leading tech hub, with a talented workforce, supportive government policies, and a vibrant entrepreneurial ecosystem.
At the same time, Alberta maintained its position as an energy leader: a gateway for international businesses committed to sustainable practices and clean energy initiatives. ACCIONA Energía chose our province for the company's largest wind farm in North America, while Amazon selected Alberta's Vulcan County as the home of its first Canadian wind farm. In this sector, Invest Alberta announced a total of seven new investments and three MOUs.
Working on building strategic alliances with worldwide investors and partners, Invest Alberta's global outreach included 72 investor visits with esteemed organizations that offer the highest long-term potential. We continued to strengthen our global alliances, taking a team approach that includes collaboration with industry, government partners, and economic development organizations to streamline success. In rural communities, we maintained our focus on regional prosperity to stimulate the local economy, increase employment prospects, and strengthen the province's economic position.
By working together, our collaborative, multi-faceted strategies empower big, bold players from around the world to make big, bold moves and help shape a more vibrant tomorrow, today.
From Fortune 500 companies prioritizing a sustainable future to tech innovators launching their headquarters right here in Alberta, and a surge in major investments from renowned global companies, 2023-2024 marked a landmark year of expansion and confidence.
Energy and Clean Tech
7 new investments
Agriculture and Forestry
2 new investments
Tech and Innovation
5 new investments
Financial Services
1 new investment
Other
3 new investments
Life Sciences
1 new investment
Invest Alberta's offices are strategically positioned to engage central decision-makers on Alberta's vast structural and policy advantages. Through direct engagement with investors, Invest Alberta works to raise Alberta's profile, gain valuable insights into diverse markets, identify and pursue high value, high impact opportunities for collaboration, and provide seamless, responsive support to businesses seeking to invest in Alberta.
International Outreach Destinations
Invest Alberta Hosted Activations
(Out-of-province):
International Outreach Destinations:
Invest Alberta Hosted Activations (Out of province):
Invest Alberta actively works with regions across the province to identify and enhance investment opportunities that support a resilient local economy. Starting as a pilot project, via a partnership with the Battle River Alliance for Economic Development, Invest Alberta's Regional Investment initiative is now 1.5 years old. In this time, we have:
In 2023-2024, the Invest Alberta team presented to governments, chambers of commerce, and at a range of conferences, including Momentum, Growing the North, and EDA Experience, to share our successes and encourage even more collaborative opportunities. Through these dynamic partnerships and concentrated efforts, 32 per cent of all new investments within the past twelve months were outside Edmonton and Calgary.
Mondi, a global leader in sustainable packaging and paper, was looking for a North American location to expand its operations. Invest Alberta and our ecosystem partners engaged to support Mondi, showcase the benefits of doing business in Alberta, and drive direct investment into our local communities.
Mondi, a global leader in sustainable packaging and paper, had a vision to lower its carbon footprint and produce high-quality pulp and paper products in an environmentally friendly way. It needed to find the ideal location for its expansion in North America. No simple task, Mondi explored dozens of sites across the continent, from forest to forest. None of them seemed to fit its criteria, which included a long list of considerations:
All the pieces began to fall into place when Mondi discovered a small town near Alberta's Rockies. Home to an existing pulp mill, Hinton offered vast opportunity and potential:
It was soon clear that Hinton offered a win-win for Mondi and the community.
In 2023, Mondi acquired the Hinton Pulp mill from West Fraser Timber Co. Ltd. Mondi's vision for the mill includes integrating state-of-the-art technology into the existing facility to produce low-carbon pulp and paper products with high efficiency. Mondi's investment will not only work to generate more jobs, increase productivity, and enhance growth potential, it will also improve the Town's environmental quality, as Mondi invests in technology to reduce waste and emissions.
During Mondi's multiple Invest Alberta-supported visits, we successfully connected them with key stakeholders who were instrumental in expediting permits and licences. These collaborations and partnerships included the Alberta Boiler Safety Association, the Ministry of Environment and Protected Areas, and the Ministry of Forestry and Parks. By guiding Mondi through Alberta's regulatory landscape (specifically pertaining to policy and regulation surrounding owning and operating a pulp mill in Alberta), we enabled Mondi to focus on completing its acquisition of the former West Fraser site. This initiative marks a significant milestone for Mondi and the province.
Invest Alberta engages the world on Alberta's distinct and expansive advantages.
Learn moreOur coordinated and collaborative approach includes support from the provincial government, Alberta's nine regional economic development agencies, Edmonton Global, Calgary Economic Development, and our committed ecosystem partners. Together, we're Team Alberta, and we work to support opportunities that make a difference.
Whether a business wants to stake its headquarters in the middle of a high-energy city or out in our rolling prairies, whether industry leaders want to be positioned in a towering skyscraper or near our desert badlands, whether innovators want a view of our polished mountain peaks or coniferous forests, Alberta has it all. Here, the only phenomenon more boundless than our terrain is our ambition.
Alberta is an emerging leader in renewables and lower emitting sources of energy.
Read MoreHome to the third largest global oil reserves, the province is leveraging its expertise with innovation to build a cleaner, more sustainable world. Alberta is opening its doors to renewable energy, cleantech, and advanced opportunities in Carbon Capture, Use and Storage (CCUS), affordable low-emission hydrogen, ammonia, and methanol fuel sources. As a pioneer in CCUS, the province is using existing facilities and infrastructure to expand into low-carbon petrochemical products, such as blue methanol and blue hydrogen.
Alberta has long been an agricultural powerhouse.
Read MoreAs of 2023, the province has seen over $72 million venture capital investment in the agribusiness sector. Global connectivity and business-friendly policies open tremendous opportunities for agriculture processing facilities to establish Alberta as their North American hub. Investment opportunities span emerging growth areas, including alternative proteins, indoor farming, and biomass utilization. Farmers and ranchers are collaborating with Alberta's technology sector to develop and implement innovative technologies to produce higher yields, while maintaining quality and sustainability.
Alberta's innovators and entrepreneurs are developing technologies to solve the world's greatest challenges.
Read MoreThe province has grown into a global tech hub, with nearly 3,000 tech firms now calling Alberta home. This has been enabled by a robust talent pipeline, post-secondary and research collaboration, and an ecosystem that has supported start-ups and attracted established businesses from around the globe. Alberta has become highly competitive in the emerging fields of artificial intelligence (AI), machine learning (ML), augmented reality (AR)/ virtual reality (VR), and cybersecurity and data.
Alberta's financial services sector has seen exceptional growth over the past decade, exceeding the national growth rate.
Read MoreWith over 80,000 employees, the province has developed world-class expertise in niche sectors such as asset management, trading, mergers and acquisition, corporate banking, and equity issuance. Companies in Alberta have specializations ranging from blockchain, cryptocurrency, capital markets and investments, wealthtech, software, and more.
Life Sciences in Alberta continues to grow, with AI and machine learning leading the evolution.
Read MoreSince 2014, biotech research and development spending has grown by 200 per cent in the province, and an estimated $1.3 billion dollars are projected to be spent on digital transformation in the life sciences sector by 2024. Over 200 life sciences companies are in Alberta, which supports over 15,000 jobs. Alberta is also home to the world's largest germ-free facility (the International Microbiome Centre) and two of the world's most respected cancer centres.
Infrastructure in Alberta continues to thrive.
Read MoreCapital projects have been delivered to support the province's growing population, programs, services, and economic development. Major projects across health, transportation, rural, and post-secondary industries have created jobs, enhanced communities, and boosted the economy. Notable projects include the proposed $9 billion-dollar high speed rail link between Edmonton and Calgary, also known as the Prairie Link Rail Partnership, as well as the proposed $1.5 billion-dollar high-speed rail link between Calgary and Banff.
Alberta is quickly becoming a leading centre for aviation and aerospace firms seeking the right environment to startup or scaleup.
Read MoreOne of the key attractions is Alberta's growing expertise in artificial technology, robotics, and machine learning—all sectors critical to success in Aerospace and Aviation. The Alberta Aerospace and Technology Centre in Edmonton not only acts as an aerospace training hub, but also as a world-class technology centre.
Here, the only phenomenon more boundless than our terrain is our ambition.
In March 2024, Fortinet—a global leader in cybersecurity—announced plans to invest $30 million and create new jobs in Alberta's tech sector. With support from Invest Alberta and Calgary Economic Development, and a grant from the Government of Alberta, Fortinet is expanding into Calgary's downtown core, creating a cutting-edge cybersecurity tech hub.
Fortinet, a global leader in cybersecurity, was looking for a new location to expand its operations. Beyond a physical space to meet its operational needs, Fortinet needed its new headquarters to support its goals, values, and ideologies. Its list of considerations included:
Calgary, an emerging hub for technology and creativity, offered everything that Fortinet was looking for:
One of Canada's most bustling and identifiable cities, Calgary matched Fortinet's objectives and ambitions—all while offering access to a large and growing market.
With a decision to invest $30 million and create 100 new jobs in Calgary, Fortinet represents one of the largest cybersecurity employers in the province. This expansion supports the development of a cutting-edge cybersecurity tech hub in Calgary's downtown core—where it also develops and delivers industry-leading products and services, reinforces Alberta as a destination for innovation and investment, strengthens the local tech workforce, and creates valuable employment opportunities.
Invest Alberta worked closely with Fortinet to understand its needs, goals, and drivers—and to showcase the benefits and limitless potential Alberta offers. Invest Alberta helped Fortinet secure a grant from the Government of Alberta's Innovation and Growth Fund (IGF), which supports projects that enhance Alberta's innovation capacity and competitiveness. The IGF grant provided over $3 million towards Fortinet's expansion, which included a data centre, a training facility, and a centre of excellence. Fortinet was impressed by the support and collaboration received from Invest Alberta, Calgary Economic Development, and the Government of Alberta.
In 2023-2024, strategic collaboration, tailored support, and an unwavering entrepreneurial spirit resulted in history-making investments. By narrowing in on established, emerging, and expansion markets that have natural synergies with Alberta, Invest Albert and our ecosystem partners helped facilitate economic development and employment opportunities across the province.
Energy and Clean Tech
Who:
Dow Chemical
What:
After months of engagement with Invest Alberta, Dow Chemical announced Fort Saskatchewan as the location for their Path2Zero project, the world's first net-zero carbon emissions integrated ethylene cracker and derivative site. With a $8.8 billion capital investment, excluding government incentives and subsidies, this investment is expected to deliver $1 billion in economic growth per year while decarbonizing 20 per cent of their global ethylene capacity and creating thousands of jobs. Invest Alberta, the government of Alberta, government of Canada, and Fort Saskatchewan supported this project through connections to subsidies, incentives, and sector connections.
Where:
Fort Saskatchewan
Invest Alberta Partner:
Alberta Industrial Heartland
Jobs:
6,000 jobs during construction and 500 full-time jobs when operational
"The opportunity to decarbonize our assets while driving growth is central to Dow's business strategy. All our stakeholders benefit from this investment — creating value for our customers and shareholders, new opportunities for our employees, economic growth for the community, and fewer greenhouse gas emissions for the environment."
- Jim Fitterling, Dow Chair and CEO
Who:
EDP Renewables
What:
Less than one year after Invest Alberta and EDP Renewables signed a memorandum of understanding, EDP Renewables announced operations commencement of the Sharp Hills Wind Farm. This project represents an estimated capital investment of over $600 million and adds job-creating opportunities and vitality to rural Alberta and the energy sector.
Where:
Near the hamlets of Sedalia and New Bridgen
Jobs:
400 jobs
"I'm extremely proud of this milestone, as it marks the largest single-phase wind farm developed by EDP Renewables to date in North America. Starting in 2015, we committed to our stakeholders to make this project operational, believing in its ability to spur the Special Areas' local economy, provide workforce development, and build grid resiliency through Albertan home-grown energy."
- Sandhya Ganapathy, CEO
"...the impact of these investments amplifies Alberta's economic status, creating a cycle of investment and growth..."
- R. Scott Hutcheson, Board Chair, IAC
Who:
Balance
What:
Balance, Canada's oldest and largest digital asset custodian, announced it has moved its corporate headquarters and relocated its core business from Toronto to Calgary. This represents a $3 million investment. Invest Alberta has been keen to help with the transition and provide Balance with access to resources, from introductions to local service providers and talent, to provide help and advice with relocating staff.
Where:
Calgary
Jobs:
50 jobs
"Ontario gave us the solid ground we needed to start, however, Alberta's regulatory framework and positive reception to our industry gives us the foundation needed to grow. In particular, the existence of a special-purpose regime for provincial trusts is extremely attractive, as it provides the structure we need to become a qualified custodian, without having to satisfy regulatory requirements pertaining to activities we don't perform such as deposit-taking business. We're grateful for our beginnings in Ontario and enthusiastic about the opportunities in Alberta."
- George Bordianu, CEO
Who:
S3 Group
What:
S3 Group, an agricultural equipment manufacturing company based in Swift Current, Sask., announced an investment of $7 million to develop a new facility in Medicine Hat. Invest Alberta supported S3's plans to expand by helping navigate the grant application IGF process, providing connections to the local business and investment landscape, and making valuable introductions to service providers and partners.
Where:
Medicine Hat
Invest Alberta Partner:
City of Medicine Hat
Jobs:
100 jobs over five years
"The Government of Alberta's investment in the IGF program demonstrates a commitment to economic growth, diversification of the economy, and providing employment opportunities for the people of Alberta. While working with the teams at Invest Alberta, the City of Medicine Hat, and other regional stakeholders, it was striking how much they genuinely wanted to help our project succeed. For that, I am grateful. This community has a legacy of innovation, ingenuity, and hard work, and we are proud to be a part of it."
- Richelle Andreas, CEO
IGF is one of the first deal-closing programs in Canada to attract high value, job-creating investments. The IGF program is jointly delivered by the Ministry of Jobs, Economy and Trade, and select designated intake organizations, including Invest Alberta. In 2023-2024, two Invest Alberta clients were awarded the IGF grant:
Planting seeds for the future, Invest Alberta is kickstarting new investment initiatives that enhance partnerships and identify business development opportunities. This past year, Invest Alberta signed three Memorandums of Understanding (MOUs). These exploratory agreements are the result of our outreach and engagement efforts with potential investors. The costs are incorporated into Invest Alberta's overall operations, and the return on investment can vary. Many of the MOUs we've signed to date have led to billions in investment and thousands of jobs.
"Through our strategic collaboration with Invest Alberta, POSCO Holdings is not only advancing our commitment to securing lithium but also reinforcing our standing in the global secondary battery supply chain. Alberta's rich natural resources coupled with innovative practices present an unmatched opportunity for growth and sustainability in our ventures."
- Kyung Sub Lee, Executive Vice President, POSCO Holdings
"We are very excited to start working together with Invest Alberta. JAPEX had a very long-standing history of business in Alberta in the areas of oil sands (as an operator) and natural gas. We are now aiming to come back to Alberta and contribute to its decarbonization, using our expertise and experiences gained through the participation in CCS demonstration project in Japan by investing in the project company and extensive E&P businesses in Japan as well as overseas."
- Tomomi Yamada, Executive Management Officer, President of Overseas Business Division II, JAPEX
"We are very excited to begin collaboration with Invest Alberta and the great partners here in the region. Alberta has created an optimal environment to build new business focused on transitioning to a carbon-neutral society over the next several decades. We are delighted to be part of the team that will help Alberta and its people achieve these important goals."
- Tom Wada, President and CEO, Sumitomo Corporation of Americas
In October 2022, Invest Alberta began nurturing a relationship with Teknol, a fast-growing software company based in Silicon Valley, California. In July 2023, Teknol announced that it was expanding its Canadian presence with a new office in Calgary, Alberta. This move underscores the city's growing reputation as a North American tech hub. This expansion will bring $12.5 million and 125 new jobs over three years.
Rahul Beri,
Teknol CEO (L)
Rick Christiaanse,
IAC CEO (R)
Beginning in October 2022, Invest Alberta's international office in Silicon Valley, California began nurturing a relationship with a fast-growing software company known as Teknol. When the company started looking for a location to expand its presence into Canada—with the goals of affordability, growth positioning, and proximity to talent—Invest Alberta was primed to further showcase the Alberta advantage.
Invest Alberta proactively engaged to assist in solving Teknol's challenges and connect the company to key partners for legal advice, ecosystem stakeholders for insights into Alberta's talent pool, service providers for back-office needs, and custom market intelligence. All of these efforts worked to accelerate Teknol's decision-making process.
In July 2023, Invest Alberta hosted an official FID visit with Teknol, as it announced it was moving its entire engineering and support teams to Calgary: a move that underscores the city's growing reputation as a North American tech hub. Teknol's decision to expand to Calgary comes with a focus on the early learning sector, as part of the organization's wider goal to revolutionize education through technology.
This expansion will bring $12.5 million and 125 new jobs over three years. With their move to Alberta, Teknol aims to hire a diverse workforce, nurture local talent, and build a robust ecosystem that emphasizes innovation and tech-based solutions. Teknol also boasts a strategic partnership with WePay, a JP Morgan Chase company. This partnership serves as an indicator of Teknol's desire to innovate within Calgary's growing fintech cluster.
Today, Rahul Beri, Teknol CEO, continues to make business visits to Alberta on a quarterly basis and has begun the hiring process in Calgary for the company's initial footprint. Invest Alberta has been able to secure prominent speaking engagements for the Teknol CEO, alongside tech leaders like Silicon Valley Bank and Ripple, to discuss his decision-making process, highlight the opportunities he discovered in Alberta, and strengthen Alberta's position—as the best place to grow a company—among key Bay Area influencers.
Teknol's official ribbon-cutting is set to take place later this year—supported by Invest Alberta.
"With our expansion into Calgary, we are better positioned to continue innovating and growing in a dynamic tech industry. The partnership between WePay and PREto3.com is a perfect illustration of this vision. We're not just building software; we're building the future of education."
- Rahul Beri, CEO
At a time of fierce competition, Invest Alberta is stepping up to the challenge, delivering on the outcomes established in the 2023-2026 Business Plan to diversify the economy through private capital and foreign direct investment. We continue to work with foresight and intention to raise Alberta's profile, strengthen our relationships, and position our communities for long-term growth. Invest Alberta regularly assesses the impact of investments we facilitate to determine whether the investment is of high value and high impact.
Invest Alberta is actively working across global markets to create sustainable, high-quality jobs that support work right here at home.
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Performance Metric | Target | Actuals 2023-2024 |
---|---|---|
Annual number of jobs created through Invest Alberta's support as reported by clients | 4,000 (2023-2024) | *11,220 |
Committed investment into Alberta facilitated by Invest Alberta as reported by clients | $10 Billion Measured cumulatively over a 3-year period (2023-24 to 2025-26) | *$11.2 Billion |
* This includes 6,500 jobs and $8.8 billion in committed investment for Dow's Path2Zero project, as initially detailed in the 2021-22 Annual Report. These numbers have been revised to reflect the latest publicly available data.
Invest Alberta is leading high-priority visits to Alberta, amplifying its international presence and connecting investors to local partners and business networks.
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Performance Metric | Target | Actuals 2023-2024 |
---|---|---|
Investor visits led by Invest Alberta | 30 | 72 |
Annual referrals to investment attraction partners | 100 | 108 |
Annual partner satisfaction survey | 85% | 83.2% |
Invest Alberta is marketing Alberta as the key investment destination, creating a funnel of investment opportunities that span all corners of the province.
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Performance Metric | Target | Actuals 2023-2024 |
---|---|---|
Leads generated by marketing campaigns | 45 | 393 |
Number of active investment opportunities | 500 | 486 |
As Canada's leading jurisdiction for renewable investment, Alberta's advantage is its integrity, ingenuity, and climate action—an unwavering commitment to fuel positive change and empower organizations that share our vision, values, and commitment to sustainable growth.
To provide calculated oversight, support critical pathways, demonstrate an actionable commitment to sustainability, and guide discussions with prospective investors, Invest Alberta has developed an internal environmental, social, governance (ESG) program that guides how our team networks and collaborates with potential investors and global capital markets. This program includes individual learning objectives and is integrated into the onboarding process for all new hires.
Throughout 2023-2024, Invest Alberta has continued to deliver on the ESG priorities of investors and businesses, recognizing these are critical considerations for investment and business longevity.
At Invest Alberta, our priority is a culture of diversity, equity, inclusion, and accessibility. We're committed to recruiting and retaining a diverse workforce—and to cultivating an environment where everyone feels valued, respected, supported, and empowered to reach their full potential. We encourage a variety of perspectives and experiences, because this strengthens our operations, enriches our workplace, drives innovation, and equips us with the competitive advantage we need to deliver on our goals and business outcomes.
We work to ensure our policies and practices promote equity and fairness to support our team, better serve our stakeholders, and stimulate positive impacts across our communities and around the world.
As at March 31, 2024, IAC had a cash balance of $1.56 million (2023: $2.51 million).
Total liabilities decreased to $2.16 million as at March 31, 2024, compared to $3.39 million as at March 31, 2023. The decrease was primarily due to a decrease in accounts payable and other liabilities which was offset by an increase in unspent deferred contributions as a result of actual operating expenses being lower than the budget.