SOUTH EAST REGIONAL ECONOMIC DEVELOPMENT AUTHORITY FORMED

Released on March 19, 1996

Economic Development Minister Dwain Lingenfelter and South East
Regional Economic Development Authority (REDA) Chairperson Ted
Hillstead today jointly announced formation of the Authority at a
Weyburn Chamber of Commerce luncheon.

Founding members of the REDA include the City of Weyburn and the RMs of
Brokenshell, Scott, Wellington and Weyburn. Other stakeholders
include: the Prairie Farm Rehabilitation Administration (PFRA), South
Saskatchewan Region; the District #7 Agriculture Development and
Diversification Board; South East Regional College, Souris Valley
Campus; and the Saskatchewan Wheat Pool. REDA partners include the
Radville and Weyburn Chambers of Commerce and the Hardy & Thorson law
firm.

"REDAs are a key component of Saskatchewan's continued economic
growth," Lingenfelter said. "Today's announcement reflects the spirit
of co-operation and partnership that is one of the essential values
that define Saskatchewan people.

"It is at the very heart of the Partnership for Growth economic
strategy launched by this government last month. REDAs are built
around this spirit and are a priority -- so much so that they are set
out as one of the 21 objectives in the Partnership for Growth strategy.
The objective is to make Regional Economic Development Authorities the
focal point for economic development in their regions."

To accomplish this objective, the government has made three specific
commitments in Partnership for Growth:

during the period from now to the end of the century, Saskatchewan
Economic Development will provide cost-shared financial assistance
to help REDAs operate;

by this September, the department will provide REDAs with a package
of professional business development services and technical
expertise;

and by April 1997, the department will examine business support
programs and, where appropriate, redesign them so they can be
delivered by REDAs.

The REDA initiative is based on local co-operation and regional
co-ordination, and is supported by the Federal-Provincial Partnership
Agreement on Rural Development (PARD).

REDAs provide a regional structure made up of municipal governments,
businesses, co-operatives and other community economic development
organizations to co-ordinate and pool their organizational,
professional and financial resources to encourage new jobs and new
investment.

To date the existing 13 regional economic development authorities have
assisted in establishing approximately 76 businesses and creating 320
jobs. Other REDAs have been established in the regions surrounding
Hudson Bay, Prince Albert, Rosetown, Swift Current, Meadow Lake,
Watrous, Saskatoon, Kindersley, Humboldt, Ituna, Yorkton, Melfort and
Biggar.

-30-

For more information, contact:
Terry Crowe Ted Hillstead
Economic Development South East REDA
Regina Weyburn
Phone: (306) 787-2753 Phone: (306) 842-4738