It’s easy to be discouraged by global events like international conflict, climate change, and supply chain and food security challenges. These realities affect the international community and have impacts close to home. But focusing on these trends alone can mean overlooking that Alberta is on the leading edge of solutions to address these challenges, and new global investment is playing a pivotal role in the prosperity of Alberta communities.
As an emerging hub for technology, Google’s Deep Mind and Amazon Web Services call Alberta home. In a few short years, EY Canada established a finance centre of excellence, RBC set up an innovation centre, and Mphasis established a delivery centre and Quantum City Centre of Excellence with post-secondary institutions. Four unicorn companies, startups valued at more than $1 billion, show that Alberta has the momentum to build on in the years ahead.
We have teams in Asia, Europe, the U.K. and the U.S. collaborating with companies designing solutions to global problems — and looking for the right place to expand. This gives us unique insight into the opportunities ahead that can further diversify the economy, flow jobs and revenue into Alberta, and eventually protect us from the boom-and-bust cycles.
Investment intentions continue to be strong. In 2023, we expect to see commitments to large-scale projects that will help drive Alberta’s long-term economic development. More clean tech is on the horizon, following on the heels of companies like Air Products’ net-zero hydrogen energy complex that promises to create more than 2,500 jobs and bolster our role as a leader in Canada’s hydrogen economy.
Alberta has shown leadership in tough times by positioning itself for the next era of growth. As one of the world’s most attractive places to do business, our collaborative approach to investment attraction will continue to serve us well. The future holds meaningful job-creating investment that will diversify Alberta’s economy and continue to deliver value to the lives of Albertans.
Rick Christiaanse is CEO of Invest Alberta. Established as a Crown corporation, Invest Alberta promotes the province as an investment destination of choice to attract high-value and high-impact investors and projects. Since 2020, Invest Alberta has supported the commitment of over $20 billion in investment that created more than 10,000 new high-value jobs for Albertans.
