Invest Alberta Economic Impact Assessment

Client: Invest Alberta Corporation (IAC)

Project Scope: Multi-Year Economic Impact Assessment

Invest Alberta (IAC) is a crown corporation dedicated to attracting investment and supporting business expansion in Alberta. It has played a key role in securing major projects, including:

• Amazon Web Services (AWS): $4.3B cloud computing hub in Calgary.

• Dow Chemical: Multi-billion-dollar net-zero petrochemical complex.

• Air Products: $1.3B net-zero hydrogen facility in Edmonton.

• De Havilland Canada: New aircraft manufacturing facility near Calgary.

  
  

Invest Alberta engaged SUMMIT72 to conduct a comprehensive economic impact assessment of projects and companies attracted to Alberta from 2020 to 2024. Using project data provided by IAC, along with publicly available information and secondary research, SUMMIT72 delivered a detailed analysis of these investments.

SUMMIT72 customized its existing economic impact model, finding innovative ways to evaluate nearly 50 projects across various economic sectors. The model was designed to standardize analysis across all projects within the study period while ensuring scalability for future assessments across diverse industries. Special attention was given to adaptability, allowing for continued use in future years.

The assessment provided economic impact estimates at multiple levels—by year, by project, in aggregate, and cumulatively. Key metrics included:

• GDP contribution (direct, indirect, and induced)

• Employment impacts (jobs created and sustained)

• Wage and income effects

• Tax revenue generation

To enhance accessibility and stakeholder engagement, the findings were presented using clear graphical representations. SUMMIT72 compiled a comprehensive report detailing the findings and methodology, culminating in an executive summary presentation delivered to Invest Alberta’s Board of Directors. An abbreviated version of the analysis was also tailored for the Premier’s Office.

Additionally, SUMMIT72 quantified the total economic benefits directly attributable to IAC’s investment attraction efforts, including estimating the return on investment (ROI) achieved by the Government of Alberta. The methodologies and processes developed for this project showcase SUMMIT72's ability to manage large-scale datasets and provide meaningful insights that support decision-making.

This engagement reinforces SUMMIT72's role as a trusted partner in economic impact analysis, demonstrating the firm’s expertise in evaluating investment outcomes and guiding strategic economic development initiatives.