The Town of Cochrane is poised to formalize its participation in a regional economic initiative aimed at strengthening the Calgary region’s competitiveness and economic prosperity.
During the July 7 Committee of the Whole meeting, Administration presented an update on the Invest Greater Calgary (IGC) pilot project to Council and is seeking Council’s endorsement of a Memorandum of Understanding (MOU) at the upcoming July 14 Regular Meeting.
The IGC initiative is a voluntary partnership among eight municipalities in the Calgary Metropolitan Region. The three-year pilot project focuses on enhancing the region’s economic development capacity through shared research, promotion, and coordinated programming.
“Cochrane sits alongside seven major regional players,” said Nicole Hannay, Cochrane’s Economic Development Manager. “This is where Cochrane’s voice is heard—through active participation in the IGC advisory committee. This is an opportunity to align our efforts with regional momentum.”
Participating municipalities include:
- City of Calgary
- City of Airdrie
- City of Chestermere
- Foothills County
- Rocky View County
- Town of Okotoks
- Town of High River
- Town of Cochrane
Cochrane’s share of participation is $9,668 annually, or $29,004 over the three-year pilot. The 2025 contribution is covered through Cochrane’s approved Calgary Metropolitan Region Board (CMRB) funding. Contributions for 2026 and 2027 will be allocated through the Economic Development Department’s annual budget.
These contributions will go toward operational and project costs across the region, enabling shared access to key economic insights and opportunities.
One such cost-sharing benefit includes a sector study planned for the first year of the pilot, which can identify gaps in the local and regional economy-- such as specific skilled labour needs.
“This will identify some of the gaps that might be employment-based, like finding certain skilled labour with specialized engineering degrees,” said Mark Krysinski, Director of Community Growth. “The cost of accessing this type of information independently can run up to $100,000 annually. Through this pilot, we share that financial burden across the region.”
Council received the presentation positively, viewing the initiative as a cost-effective investment with significant long-term benefits.
“I think $29,000 is really good considering the upside on return on investment,” said Coun. Alex Reed. “Even if just one business comes into the community, that amount over three years will still have yielded good value.”
Mayor Jeff Genung agreed: “For under $10,000 a year, this can give a great return. A rising tide floats all boats, right? With this membership, we identify new sectors, attract new industries, and still retain our autonomy to say yes—or no—to opportunities.”
The IGC Memorandum of Understanding will return to Council for a decision on July 14, 2025.
