Released on August 5, 2008
Regional economic development in Saskatchewan is undergoing major changes with the launch of the new Enterprise Region program in the southern part of the province. As well, the province is doubling its investment in economic development by providing the new enterprise regions an additional $2.5 million for a total budget of $5 million.
"We are today launching the Enterprise Region program to enhance regional economic development in Saskatchewan with a focus on business, industry and competitiveness," Enterprise and Innovation Minister Lyle Stewart said. "REDA has made a significant contribution to the provincial economy over the last 15 years, and we want to build on that success in these new high-performance regions."
A REDA working group have been working on a new model of regional economic development over the past three years and made recommendations to the government about having larger regions based on commutershed information (where people live and work), and natural boundaries such as rivers and road patterns.
"This is an exciting time for Saskatchewan's economy, and we recognize the important role economic development groups play in attracting investment," Stewart said. "With a focus on increasing business and being more competitive, we are confident all stakeholders in the regions will be able to realize more of their economic potential under this new program."
Ministry staff will be consulting with REDAs over the coming months to finalize program details. Work has already started between interested stakeholders to create new partnerships within each region. Facilitators will be available to the new regions as they work through the process.
There will also be additional re-organization in the northern part of the province, with details to be announced at a later date. The current REDA program will officially wind down as of March 31, 2009.
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: (306) 787-6315
Email: Deb.Young@gov.sk.ca