Edmonton, AB – Invest Alberta released its annual report for the 2022-2023 fiscal year today showing that 2022-23 was transformative for many Alberta communities with investments of nearly $20 billion in major projects and more than 25,000 jobs created since 2020.
Invest Alberta’s success promoting Alberta on a global stage is driving tangible results for Alberta’s economic growth and diversification. With teams strategically located in Alberta and in offices around the world, Invest Alberta supported twice as many companies in 2022-23 than during the previous year.
Communities across the province welcomed a variety of new businesses, expansions, and job opportunities. Wheatland County is now home to a De Havilland aircraft manufacturing plant, Vegreville will be opening a biocomposites manufacturing facility, and PACE Canada is building a new solar power plant in Lacombe County. Two state-of-the-art food processing companies announced growth plans in Edmonton, while Calgary’s reputation as an emerging tech hub continues to grow with high profile announcements from IBM, Mphasis, and EY.
Companies are choosing Alberta over other jurisdictions based on factors like a young and educated work force, a strong ecosystem of collaborative partnerships, exceptional quality of life, access to global markets, and world-class research and education institutions.
For example, Felix Cheung, Founder and CEO, IXON Food Technology said, “We ultimately picked Alberta as the home for our first international office due to its tremendous support for start-ups, its outstanding quality meats, especially beef and pork, as well as its wealth of resources, including expertise in food safety, product development, and mechanical engineering.” Ashely Marr, Director of the Heartland Petrochemical Complex at Inter Pipeline has said, “The diversification, the innovation, the pioneer spirit, the passion for future generation is so present in everything in Alberta.”
Invest Alberta prioritizes regions and sectors that align with Alberta’s increasingly diverse economy. Agriculture, energy and clean technology, technology and innovation, aerospace and aviation, fintech, life sciences, and infrastructure are priority sectors that are benefitting from Invest Alberta’s efforts. By providing tailored supports to companies, Invest Alberta helps facilitate investment opportunities and position Alberta as a globally competitive investment destination.
The complete annual report, including comprehensive operational insights, financial statements, and a look ahead, is now available for download.
“Alberta is a top destination for global investment. In industries from technology to manufacturing to aviation to agriculture and more, investors are finding a home for their businesses, products, and services right here. We are working to keep Alberta an attractive destination for investment and Invest Alberta continues to play an important role in making sure the world knows about the opportunities available here.”
– Danielle Smith, Premier
“Invest Alberta’s annual report showcases a remarkable year of achievements, highlighting substantial growth and tangible results. Accomplishments from the past year are a solid foundation to launch into a new era of enhanced economic growth and diversification. The team at Invest Alberta, together with partners across the province, are poised to continue driving the ongoing economic success and innovation needed to pave the path toward a prosperous future.”
– R. Scott Hutcheson, Board Chair, Invest Alberta
“Through a deliberate international outreach and marketing strategy over the past year, we secured major projects by showcasing Alberta’s appeal as a premier destination for investors to grow their business and join a vibrant community. Looking ahead, we are laser-focused on leveraging our strengths as collaborators and industry experts to bring more high value, impactful, job-creating investments to communities across the province.”
– Rick Christiaanse, CEO, Invest Alberta
About Invest Alberta:
Invest Alberta engages the world and provides high-end tailored support to companies, investors, and major new projects. With team members strategically positioned in key markets around the world, Invest Alberta works to break down barriers so businesses can start up, scale up, and succeed without limits. Since 2020, Invest Alberta has supported the commitment of nearly $20 billion in investment that created more than 25,000 new high-value jobs for Albertans. For more information, please visit investalberta.ca.
Phone: +1 403 861 9968