Waterloo EDC Surpasses Goals Despite Global Headwinds

Against a backdrop of geopolitical instability, trade tensions and shifting investment patterns, Waterloo EDC delivered one of its strongest years on record.

In Waterloo EDC’s new Annual Report (PDF), President & CEO Tony LaMantia described 2025 as feeling like “one long unrelenting storm.” Despite those headwinds, the organization exceeded its targets and continued to drive meaningful economic growth across the region. The Annual Report – which was just published this week – provides the final investment numbers, key stories from the year and more.

Here are the highlights.

Delivering results when it mattered most

In 2025, Waterloo EDC closed 15 investments totaling more than $1.86 billion, creating 995 new jobs across the region. These results not only surpassed topline goals but reinforced the organization’s ability to execute in even the most challenging environments.

That performance was driven by a mix of local expansions and new international investments.  While global uncertainty slowed some international investment, Waterloo EDC’s dual focus ensured continued momentum.

The results also reflect a broader shift in strategy. As LaMantia noted, Waterloo EDC is increasingly focused on identifying “better FDI”: investments that strengthen economic resilience and contribute to national priorities like sovereignty and national defence. That means supporting local businesses in their growth and attracting investments that serve a strategic purpose, in addition to creating jobs.

A strong foundation – a decade of work

Success in 2025 didn’t happen in isolation. It builds on a decade of consistent performance and long-term strategy.

Over the past 10 years, Waterloo EDC has helped bring nearly $4 billion in investment into the region, supporting more than 6,200 new jobs. That sustained growth has supported the upward trajectory of the community’s economy and positioned it as one of Canada’s leading investment destinations.

It’s notable that benefit of this work is widespread across the community, with each of the three cities and most of the townships seeing significant new investments.

As Board Chair David Fransen reflected, the transformation of Waterloo Region over the past decade has been profound, driven by both deliberate decisions and external forces shaping the global economy. Waterloo EDC’s work has played a key positive role in that transformation. Ultimately, the community is in a better position now than it was a decade ago.

A pipeline built for the future

Perhaps the most promising indicator of Waterloo EDC’s continued success is what lies ahead.

By the end of 2025, the organization had built a pipeline of 81 potential investments valued at approximately $1.3 billion. Of those, four opportunities worth $99 million had already reached the forecast stage.

This robust pipeline reflects a disciplined approach to business development — one that combines in-market engagement, strong partnerships and a focus on long-term relationships. In total, the team conducted 199 meetings with international companies and 124 with local businesses, while participating in 130 events worldwide.

A fond farewell to a longtime leader

This Annual Report marked the final full year of LaMantia as Waterloo EDC’s leader after becoming the organizations first President & CEO a decade ago.

In his remarks, LaMantia made some a passing reference to the news, highlighting just how unpredictable the last ten years have been – a global pandemic, two Trump presidencies and more. With a strong and tenured staff, he attributed much of the credit for Waterloo EDC’s success to a team effort.

“I think the community is very lucky to have this group of professionals in their corner,” says LaMantia.

Fransen, meanwhile, sang LaMantia’s praises, noting that the organization’s founding Board Chair, Gerry Remers, recently called LaMantia one of the best hires he ever made.

“It’s easy to see why,” says Fransen. “Under his leadership, Waterloo EDC has become the benchmark and model for investment promotion agencies across Canada.”

Looking ahead

If 2025 was defined by turbulence, 2026 may bring more of the same. But Waterloo EDC is entering the year from a position of strength.

With a strong pipeline, a refined investment strategy and a decade-long track record of success, the organization is well-positioned to navigate whatever comes next.

As LaMantia put it, “we can’t change world events on our own, but we can make sure we’re ready to make the most of opportunities that come our way.”

For Waterloo EDC, that readiness continues to translate into results.