Released on December 11, 2002
The provincial government today unveiled Invest in Saskatchewan, a new lookand emphasis for the province's long-standing labour-sponsored venture
capital program.
"We have relaunched this program to emphasize its importance in raising
investment capital for Saskatchewan businesses," Industry and Resources
Minister Eldon Lautermilch said. "A major goal of the Our Future is Wide
Open campaign is to encourage investment in Saskatchewan. And one of our
best investment tools is made and managed in Saskatchewan."
Last fiscal year, the program enabled 10,000 people to invest in
Saskatchewan venture capital pool funds and qualify for provincial tax
credits of up to 20 per cent. Those funds, in turn, invested $14 million
in Saskatchewan companies, creating or maintaining more than 285 jobs.
The government and Saskatchewan's two provincial fund managers, Golden
Opportunities Fund Inc. and Crown Ventures Fund Inc., will sponsor an
advertising campaign starting in January. Print and radio ads will promote
the program to Saskatchewan residents and businesses.
"This program is one of Saskatchewan's great success stories, and we want
to spread the word to more investors and brokers," Lautermilch
said. "People buy the funds because they offer a significant tax break –
but that is just the beginning. These funds provide capital that enables
Saskatchewan entrepreneurs to start or expand their business. This means
new revenues and jobs for the Saskatchewan economy and wide-open
opportunities for Saskatchewan people."
-30-
For more information, contact:
Bob Ellis
Industry and Resources
Regina
Phone: (306) 787-8277