RESEARCH PARKS BOOST PROVINCE'S ECONOMY

Released on March 8, 2002

Saskatchewan's two research parks contributed almost $390 million to the

provincial economy in 2001, according to an independent study by university

researchers.



Innovation Place in Saskatoon and the Regina Research Park have 140 tenants

that employ almost 2,800 people and boast a combined square footage of more

than 120,000 square metres (1.3 million square feet). The parks, adjacent

to the province's two universities, are owned and operated by the

Saskatchewan Opportunities Corporation (SOCO).



"Our research parks are a shining example of how Saskatchewan can compete

with the world, particularly in the advanced technology sector," Minister

Responsible for SOCO Eldon Lautermilch said. "Here at home, we all benefit

from the jobs they create and the money they add to our economy."



Researchers from the Universities Studies Group at the University of

Saskatchewan and the Office of Resource Planning at the University of

Regina used information such as the purchase of goods and services and

staff salaries to determine the economic impact of the parks' activities.

They also determined an additional 3,100 jobs are created indirectly in the

province through the presence of the two research parks.



The results reflect a substantial increase since 1999, the last time the

study was conducted. At that time, Innovation Place generated $217 million

in economic activity. The Regina Research Park was under construction in

1999 so its economic activity was not included.



"Both our research parks have seen significant growth in the past few years

and this study confirms their tenants' impact is growing too," SOCO

President and Chief Executive Officer Nigel Howard said. "In addition,

almost two-thirds of the tenants said they plan to expand in the near

future, which shows tremendous confidence in the benefits research parks

have to offer."



SOCO's research parks have developed knowledge clusters in fields such as

information technology, biotechnology, environmental science and petroleum

technology. The parks provide specialized infrastructure, including state-

of-the-art facilities supported by technical and business services, to help

move important discoveries from the lab into the marketplace.



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For more information, contact:



Dawn Blaus Austin Beggs

Communications Manager Marketing Manager

SOCO Innovation Place

Regina Saskatoon

Phone: (306) 787-8664 Phone: (306) 933-7464