Where
Big Ideas
Take Shape

2024/25 Annual Report

Forging the Future of Global Investment

At Invest Alberta, we don't just attract high-impact investment; we make it possible for big ideas to take shape. Invest Alberta acts with strategic foresight and tailored ingenuity to fuel innovation, foster partnerships, accelerate economic growth, create jobs, and empower communities — across every corner of Alberta.

Download 2024-2025 Annual Report

A Snapshot of the 2024-2025 Investment Landscape

* The number represents both publicly announced and confidentially shared job information.

Since 2020, Invest Alberta clients have announced 69 investments valued at $27.1 billion. A total of 35,508 new jobs have been created to date.* as of March 31, 2025

Mandate:

The Invest Alberta Corporation (Invest Alberta) was created to address the growing need for job-creation and economy-diversification by attracting high-impact, high-value 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. This strategy aims to drive Alberta's economy by creating stability, supporting job creation, expanding business opportunities, accelerating innovation, and increasing provincial exports.

Vision:

Build on Alberta's strengths and competitive advantages to create and win opportunities that make Alberta's economy the most dynamic in North America.

Purpose:

Position Alberta as a premier global investment destination by facilitating connections between the private sector and local investment opportunities to drive economic growth and sustainable development.

Mission:

Leveraging its international network and deep sector expertise, Invest Alberta collaborates with strategic partners to deliver tailored support to companies, investors, and prospective stakeholders to attract significant investments and foster job-creating economic activity across Alberta.

Accountability Statement:

The Invest Alberta Corporation's Annual Report for the year ended March 31, 2025, 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 Sustainable Fiscal Planning and Reporting Act. All material economic, environmental, or fiscal implications, of which we are aware, have been considered in preparation of this report.

Message from the Board Chair: R. Scott Hutcheson

Big investments. Bold ideas. A province built for growth.

Alberta is where innovation meets opportunity. Global companies are choosing Alberta to launch, expand, and thrive — because here, business moves fast, talent runs deep, and industries are built to last.

This past year, our strategic focus delivered significant results. With billions in new investments across sectors like clean tech, logistics, aviation, and professional services, Alberta continues to attract global leaders looking for a business-friendly environment and a skilled workforce.

Projects like Amazon's $500 million fulfillment centre and Metlen's $1.285 billion renewable energy investment highlight the strength of Alberta's economy. These are catalysts for long-term growth, creating thousands of jobs and positioning Alberta as a leader in key industries.

Our role? Showcasing Alberta. We connect decision-makers, open doors, and turn big ideas into real projects.

Looking ahead, our focus remains clear: supporting high-value investments that align with Alberta's priorities, from emissions reduction to innovation and economic diversification. The future is bright. And we're proud to play a role in Alberta's future.

R. Scott Hutcheson

Message from the CEO: Rick Christiaanse

Alberta isn't just open for business — it's built for it.

What makes Alberta different? Here, bold ideas don't stay on paper — they turn into billion-dollar projects, growing industries, and real economic impact.

In 2024, Alberta's investment landscape reached new heights. We welcomed game-changing projects like NewCold's $222 million cold storage facility, Deep Sky's $110 million lab, and eStruxture's $750 million data centre.

Across energy, logistics, tech, and beyond, companies are choosing Alberta for its business-friendly environment, cost advantages, and skilled workforce. The result? Thousands of new jobs and billions in economic growth.

At Invest Alberta, we make it happen. We connect investors with decision-makers, cut through red tape, and help companies land and expand. Over 54 investor visits this year led to billions in commitments — and not just in the big cities, more than a third of investment into the province has landed in rural communities.

The formula is simple: world-class infrastructure, a skilled workforce, and an unmatched business environment. Investors see it. They're acting on it. And with Alberta's momentum stronger than ever, now is the time to build the future. Let's go.

Rick Christiaanse

About Invest Alberta:
Built to Deliver

Invest Alberta opens doors, activates relationships, pushes boundaries, and guides growth.

Invest Alberta works to build a brighter, stronger future for all Albertans.

We do it by:

  • Proactively engaging private and public stakeholders to identify and attract high-quality, job-creating investment opportunities.
  • Facilitating connections between investors, strategic partners, government entities, businesses, and Alberta's skilled workforce.
  • Strategically positioning international team members in key global markets to elevate Alberta's profile and identify priorities for business development.
  • Leveraging evidence-based market research and intelligence to inform business cases and facilitate successful operations.
  • Streamlining processes and delivering tailored concierge investment services designed for success.

The People and Projects that Move Alberta Forward

Alberta offers more than just a place to do business — it offers a launchpad for growth. This momentum is driven by:

  • A highly educated, skilled talent pool.
  • Low taxes and competitive operating costs.
  • Strong global connectivity via air, rail, highways, and ports.
  • Vibrant communities and an exceptional quality of life.
  • Robust, future-ready infrastructure.
  • Alberta's signature "make-it-happen" attitude.

Team Alberta

At Invest Alberta, collaboration is at the heart of everything we do.

Invest Alberta works shoulder-to-shoulder with the Government of Alberta, regional economic development agencies, and a strong network of collaborators. This includes Edmonton Global, Calgary Economic Development, Alberta Enterprise Corporation, Alberta Innovates, the Alberta Indigenous Opportunities Corporation, and Travel Alberta. Invest Alberta also taps into deep relationships with Alberta's business community to support bold, strategic opportunities that demand unified effort. Together, we're Team Alberta — driving investment and delivering long-term impact across the province.

Investments in Action

In Alberta, opportunity doesn't wait — it moves.

In 2024-2025, Invest Alberta's targeted efforts have led to 17 new investments across key sectors, highlighting Alberta's status on the international investment stage.

  • Advanced Manufacturing 2 new investments
  • Aviation, Defence and Logistics 2 new investments
  • Energy and Clean Tech 1 new investment
  • Food and Beverage Supply 2 new investments
  • Petrochemicals 2 new investments
  • Professional Services 3 new investments
  • Renewable Energy 2 new investments
  • Tech and Innovation 3 new investments

Investor Outreach and Hosted Visits: Making Connections that Matter

In 2024-2025, Invest Alberta continued to champion face-to-face activations with key contacts around the globe. This included 54 investor-led visits to the province, as well as direct visits with investors in their home countries.

Invest Alberta's targeted outreach efforts included:

  • Business-to-business meetings with decision-makers.
  • Strategic presentations with global partners.
  • Thought-leadership panels that spotlight Alberta's strengths on the world stage.

Invest Alberta also expanded our on-the-ground presence in Vancouver and Chicago, and we led Invest Alberta teams on outreach trips to 23 additional North American markets.

International Outreach
Destinations

  • Australia
  • Austria
  • Belgium
  • Brazil
  • China
  • Denmark
  • Finland
  • France
  • Germany
  • Hong Kong
  • India
  • Indonesia
  • Ireland
  • Italy
  • Japan
  • Malaysia
  • Netherlands
  • Norway
  • Portugal
  • Republic of Korea
  • Singapore
  • Spain
  • Taiwan
  • United Kingdom
  • United States

Invest Alberta - Origin of
Investor Visits (HQ) Canada

  • Brazil
  • China
  • Finland
  • France
  • Germany
  • Greece
  • India
  • Japan
  • Malaysia
  • Netherlands
  • Norway
  • Republic of Korea
  • Singapore
  • Spain
  • Switzerland
  • United Kingdom
  • United States

Regional Investment Initiative: Empowering Local Communities

Invest Alberta continues to collaborate with regions across the province to identify and enhance investment opportunities that contribute to a resilient, diversified economy. What started as a pilot project with the Battle River Alliance for Economic Development has evolved into the Regional Investment Initiative (RII), a flagship program that drives investment and growth throughout Alberta.

Over the past two years, the RII has:

  • Engaged with 200+ municipalities.
  • Conducted 20+ workshops and tours, strengthening relationships with Regional Economic Development Alliances (REDAs) and municipalities in northern, central, and southern Alberta.
  • Expanded Alberta's regional investment promotion efforts with visits planned for investors from Europe, India, and the United States.

From Fall 2024 to Spring 2025, Invest Alberta completed a series of focus group discussions to enhance the RII's success, fine-tune the program, and continue to advance the Team Alberta approach. From Grande Prairie and Greenview to St. Paul, Lamont County, and Medicine Hat, these consultations spanned the province, gathering insights to inform program offerings and identify opportunities for ongoing improvement.

Five Years of Attraction, Five Years of Impact

Between 2020 and March 2025, Invest Alberta facilitated 69 investment projects, helping generate over $27.1 billion in new capital investment. But those numbers only tell part of the story.

To capture and assess the broader impacts, Invest Alberta engaged an independent firm to conduct a comprehensive economic assessment. The analysis highlights not just the scale of investment activity, but its power to drive long-term economic growth, create jobs, and strengthen fiscal capacity at both provincial and municipal levels.

Construction-Driven Development

  • A significant portion of economic value is expected to result from construction activity, which stimulates demand across a wide range of Alberta-based industries, including engineering, equipment supply, transportation, building materials, and professional services.
  • Construction represents the first stage in a larger business cycle, where capital projects become long-term economic drivers.
  • In 2025, commercial operations associated with Invest Alberta-supported projects are expected to generate approximately $2.7 billion in GDP, $1.2 billion in wages, and support nearly 19,000 permanent full-time jobs across Alberta.
  • Combined, construction and operational activity tied to Invest Alberta-supported projects are expected to yield approximately $4.6 billion in GDP and $2.3 billion in wages.

Global Reach, Local Growth

  • Businesses attracted through Invest Alberta's efforts operate in a range of sectors, helping to diversify the province's economic base, fuel demand for local suppliers, and support spinoff employment.
  • Foreign direct investment brings new technologies, workforce skill requirements, and international expertise that fosters knowledge transfer between global and local firms.

Strengthening Communities and Fiscal Capacity

  • In addition to creating jobs and driving economic growth, new investments facilitated by Invest Alberta are expected to generate approximately $227 million in provincial tax revenue in 2025.
  • Separately, across the 20 municipalities where these projects are located, an estimated $24 million in municipal property taxes and $7 million in education property taxes will also be collected.
  • These revenues not only strengthen Alberta's fiscal capacity, but they also support public services, infrastructure, and education.

The Economic Outlook

The long-term benefits of investment attraction are projected to extend far beyond 2025. From 2020 to 2030, the cumulative impact of projects facilitated by Invest Alberta is forecast to deliver:

  • More than $43 billion in total GDP,
  • Approximately $2.2 billion in provincial tax revenue,
  • More than $400 million in municipal and education property tax revenue, and
  • More than 47,000 jobs in the peak year of activity.

These investments do more than boost key economic indicators — they create lasting, practical value for businesses, communities, and individuals. By expanding the tax base, supporting essential public services, improving household incomes, and increasing economic opportunities, Invest Alberta's efforts help shape a more resilient, diversified economy that supports long-term prosperity across the province.

From Vision to Impact:Alberta's Investment Highlights

In 2024-2025, Invest Alberta made a lasting mark on the global stage. Through strategic investor support and a focus on high-growth markets that align with Alberta's strengths, Invest Alberta — in collaboration with our ecosystem partners — helped advance historic economic development and create thousands of new job opportunities.

Scroll to view all 2024-2025 investments by sector.

Forging Pathways to Partnerships:10 MOUs Signed

Over the past year, Invest Alberta signed 10 Memorandums of Understanding (MOUs), laying the foundation for landmark future investment. These agreements spark business growth, unlock strategic opportunities, and have already led to billions in investment and thousands of jobs — further cementing Alberta's reputation as a hub for high-impact economic partnerships.

Armada Energy
CarbonCo
Marubeni Corporation
  • Armada Energy
  • Asgard Consulting
  • AxialBridge
  • CarbonCo
  • ClearBlue Markets
  • EllisDon Corporation
  • Graham Construction & Engineering Inc.
  • Marubeni Corporation
  • Ministry of Agriculture and Irrigation (AGI)
  • WCP

Measuring Success:Corporate Performance in Action

In a fiercely competitive global landscape, Invest Alberta remains focused and forward-looking. Invest Alberta continues to elevate Alberta's profile, strengthen relationships, and set the stage for long-term growth and sustainability.

To stay aligned and accountable, Invest Alberta utilizes a balanced scorecard to track performance across four perspectives: Economic Impact, Stakeholders, Internal Operations, and Employees. These pillars, outlined in Invest Alberta's 2024-2027 Business Plan, are more than metrics — they're our roadmap to delivering big, bold impacts and powering the province's growth.

Understanding Performance Variances

In the past year, Invest Alberta introduced seven new performance metrics to better reflect a balanced and outcomes-driven approach to corporate performance. As these metrics were new, initial targets were based on historical trends and best estimates. However, throughout the year, it became clear that some targets did not accurately reflect operational realities—some were overly ambitious, while others underestimated performance. For example, the target for the percentage of marketing prospects converting to qualified leads was set too high, as actual performance rarely exceeded 4%. Additionally, existing metrics, such as the annual partner satisfaction survey, underwent changes in methodology that created a new baseline for comparison.

Invest Alberta is committed to setting targets that are both challenging and achievable. Based on what we learned this year, we have refined several metrics and updated our targets to better align with actual performance trends and future aspirations. This continuous improvement approach ensures greater accountability and relevance in how we measure success.

Management Discussion and Analysis

Financial Assets

As at March 31, 2025, IAC had a cash balance of $1.64 million (2024: $1.56 million).

Liabilities

Total liabilities increased to $2.38 million as at March 31, 2025, compared to $2.16 million as at March 31, 2024. The increase was primarily due to an increase in accounts payable and other liabilities which was offset by a decrease in unspent deferred contributions.

View Full Audited Financial Statements

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Leadership Team

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When we align as Team Alberta, we amplify our reach, accelerate growth, and build a stronger future.