REGINA JOINS PROVINCIAL REDA NETWORK

Released on May 25, 1998

Economic and Co-operative Development Minister Janice MacKinnon and

Regina Regional Economic Development Authority (REDA) chair Muir

Barber today announced Regina's participation in the provincial REDA

network.



"We are extremely pleased the Regina Economic Development Authority is

joining with the RM of Sherwood to become part of the provincial REDA

network," MacKinnon said. "The Regina Authority has a proven economic

development track record and by becoming a member of the provincial

network, it will expand its leadership role to surrounding

communities."



"As co-founders, Regina and the RM of Sherwood, along with the support

and assistance of Saskatchewan Economic and Co-operative Development,

will continue to recruit other partners into a long term, mutually

beneficial relationship," Barber said.



"The establishment of Saskatchewan's 26th REDA further strengthens our

network of Regional Economic Development Authorities across the

province," MacKinnon added. "The provincial government will continue

to work in partnership with REDAs to ensure all communities in

Saskatchewan can participate in our strong and thriving economy."



REDAs allow municipal governments, community organizations,

private businesses and co-operatives to pool their

organizational, professional and financial resources in order to

encourage job creation and investment in the region.



Under the REDA program, the province provides each REDA with a

cost-shared startup advance of up to $25,000, along with annual

50 percent shared operating funding, to a maximum of $60,000 per

year.



"REDAs play a crucial role in community economic development in

Saskatchewan, driving growth and job creation at the local

level," MacKinnon said. "In this year's budget we reaffirmed our

strong commitment to Regional Economic Development Authorities by

increasing our investment by almost $2 million. Further details

of enriched REDA funding will be announced in the near future"



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For more information, contact:



Debbie Wilkie

Economic and Co-operative Development

Regina

Phone: (306)787-1691



Marty Klyne

Regina REDA Executive Director

Regina

Phone: (306)522-0227