When the Alberta government shut down the Calgary Metropolitan Region Board (CMRB), one of the biggest disappointments for Cochrane Mayor Jeff Genung was the lost opportunity to pursue regional economic development.
That void may soon be filled if Cochrane town council agrees to join a three-year pilot project called Invest Greater Calgary (IGC).
Council is set to decide Monday night whether to collaborate with eight other municipalities to enhance investment and job creation within the Calgary region.
“IGC is positioning the Calgary Metropolitan Region as the most attractive place in North America to invest and grow business,” Cochrane economic development manager Nicole Hannay told council.
Based on the funding formula, Cochrane would contribute $9,688 annually for three years, totalling $29,064. This year’s contribution would come from funds originally allocated for the town’s participation in the now-defunct CMRB.
IGC anticipates a three-year budget of $1.4 million, with $966,816 coming from participating municipalities. The remainder would come from other sources. The town's contributions for 2026 and 2027 would be included in future economic development budget requests.
The IGC Partnership Charter was approved by the CMRB on Nov. 22, 2024. It established a platform where economic development representatives voluntarily collaborate to promote shared goals around investment attraction, including targeting tier-one companies to locate in their respective communities.
Six days later, then-Municipal Affairs Minister Ric McIver stunned the board by announcing the province was cutting its $1-million annual funding and making membership into the CMRB voluntary. The board officially folded on May 31, 2025.
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At the time, Genung said the board was “just getting to the good stuff,” including exploring cost-saving shared infrastructure projects and regional economic development initiatives.
He believes IGC can pick up the ball and carry on that work.
Citing local opportunities, Genung gave the example of attracting a hotel to Cochrane, while also pointing to broader regional opportunities, such as the film industry.
Hannay told council an economic impact analysis would be the first step of the process—something Genung called the right move.
“What sectors could we look at, and what industries can we attract as a region? Then, what specific communities are best suited to attract certain things? At the end of the day, we still have our autonomy to say, ‘No, we don’t want that here.’”