Cochrane has signed a memorandum of understanding to join the three-year Invest Greater Calgary (IGC) pilot project, aimed at boosting economic development across the region.
Invest Greater Calgary is a voluntary regional collaboration involving eight municipalities within the Calgary Metropolitan Region. It focuses on promoting the region as a unified and competitive destination for investment. A regional secretariat will be established to support investment attraction and job creation.
Mark Krysinski, Cochrane's director of community growth, told council the partnership would allow the town to benefit from region-wide investor intelligence and marketing resources, while maintaining its unique identity.
“It also allows us to capitalize on economies of scale and reduce the financial burden for Cochrane to complete some of the activities planned over the next three years," said Krysinski. "It aligns well with our economic development strategy, which is currently out for RFP, and helps us have an outsized impact relative to our funding and size.”
Under the funding model, Cochrane will contribute $9,688 annually for three years, totalling $29,064. This year’s contribution will come from funds previously allocated to the now-defunct Calgary Metropolitan Region Board (CMRB).
Additional contributions could be considered annually through the town’s budgeting process.
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Coun. Alex Reed, who brought the motion forward, called participation in the initiative a "no-brainer."
“The return on investment would be incredible for our community. Even if we were to acquire one additional business, the investment would pay for itself,” he said.
In addition to Cochrane and Calgary, partner municipalities include Airdrie, Chestermere, Foothills County, High River, Okotoks, and Rocky View County.