Doubling down on Alberta’s regional economies

Press Release

Apr 09, 2025

Alberta’s government is tripling funding and doubling community impact, creating jobs and sparking innovation through targeted grants.

In 2024-25, Alberta’s government invested a ground-breaking $9.8 million in 81 projects through the Northern and Regional Economic Development (NRED) program, creating new opportunities and strengthening Alberta’s local economies. This investment triples the program’s annual $3-million budget and doubles the number of grants awarded from the previous fiscal year. NRED grants now provide up to $300,000 in funding for projects designed to help businesses, municipalities and organizations expand, communities grow and industries innovate.

Alberta’s government recognizes that regional communities face unique challenges. Workforce shortages, aging infrastructure and barriers to investment attraction can threaten long-term economic opportunity. By investing in northern and regional communities, the government helps build stronger, more resilient communities that contribute to the overall prosperity of the province.

“The NRED program is empowering communities to attract investment, grow economies and create high-value, stable jobs for Albertans. This program unlocks new opportunities for Albertans in every corner of the province, ensuring Alberta remains the best place to live, work, invest and raise a family.”

Matt Jones, Minister of Jobs, Economy and Trade

Through NRED grants, Alberta’s government allows communities to apply for programming that suits their unique needs. Some of the 2024-25 projects funded through the NRED program include:

The Town of Taber received $17,500 for its “Think Taber” project to attract global investment to the community.
Slave Lake Regional Tourism Society received $38,400 for a regional promotional project.
NeurAlberta Tech’s project received $250,000 to unite students, graduates, SMEs and partners to drive innovation in neurotechnology and AI.
Chiniki First Nation received $281,300 for infrastructure planning for an Indigenous affordable housing plan.
Lethbridge Economic Development Initiative Society (LEDI) was awarded two grants, one for $50,000 and one for $97,600, for building creative industries and for business retention programming.

Alberta’s government has listened to and learned from northern and regional communities who have called for the NRED program to be expanded. Not only did Alberta’s government expand the number of programs receiving NRED grants this year, but some key enhancements were made to make NRED grants more accessible and flexible. Specifically, the application process has been simplified, the maximum funding amount per project was increased by $100,000, the grant amount range was expanded to between $10,000 and $300,000, and grant applicants can now apply for up to three years of funding.

By broadening eligibility and improving access, Alberta’s government is enabling communities to pursue both large-scale economic initiatives and targeted programs that address unique local needs.

“Our government’s investment in the NRED program strengthens local businesses, creates jobs and enhances tourism opportunities across Alberta. This program is making a real difference in communities, especially in northern Alberta, by fostering innovation and economic resilience.”

Tany Yao, parliamentary secretary, small business and northern development

“Support from the NRED program is helping us lay the foundation for long-term economic success in Fort McMurray Wood Buffalo. It’s enabling us to attract new investment, expand tourism initiatives, and support local businesses that are driving growth and diversification in our region.”

Lisa Sweet, interim CEO, Fort McMurray Wood Buffalo Economic Development and Tourism

The NRED program is driving long-term growth by investing in local businesses, infrastructure and job creation across Alberta’s regions. This funding empowers communities to thrive, attract investment and build a stronger, more resilient economy for future generations.

Quick facts

In 2024-25, the NRED program invested a total of $9.8 million in 81 projects that supported regional economic growth and diversification. This one-time increase includes:
- $2.7 million to 27 municipalities
- $4.8 million to 41 not-for-profits
- $1.4 million to eight First Nations
- $0.9 million to five Metis Settlements
Twenty-nine of these projects are considered northern, with total grant funding of $3.8 million.
The program provides up to 50 per cent of total eligible project costs.
- Projects led by Indigenous communities will receive up to 75 per cent of total eligible project costs.
Budget 2025 commits $3 million annually over the next three years to the NRED program, ensuring ongoing support for communities looking to grow and diversify their economies.
Since its launch in 2022, the NRED program has supported 225 economic initiatives that have fostered local business success, boosted tourism and built long-term capacity for economic growth.