The Village of Irma came into being in 1908 when the Grand Trunk Pacific Railway came through. Irma was later incorporated as a Village on May 30, 1912. The village was supposedly named after the daughter of the GTPR second vice-president General William Wainwright. Records show three major fires in the downtown area. These broke out in 1911, 1931 and 1963. Most of the buildings on the main street (now 50 Street) were reconstructed after the 1931 fire. Alberta's first rural high school is located in Irma.
In 2006, Irma had a population of 444 living in 213 dwellings, a 2.1% increase from 2001. The village has a land area of and a population density of .
Jean Paré – founder of Company's Coming Publishing Limited