Released on March 21, 2012
The Saskatchewan Government is building on a solid track record of balanced budgets and tax relief by refocusing provincial economic development priorities on increased investments for municipal funding, innovation, infrastructure and trade. As the government focuses on province-wide initiatives, provincial funding for the Enterprise Region Program is being wound down.
"Balanced budgets, competitive taxes, cutting-edge innovation, good roads and growing international markets are all key ingredients to keep Saskatchewan's economy growing and creating jobs," Enterprise Minister Jeremy Harrison said. "The Saskatchewan Government is refocusing economic development initiatives on province-wide priorities while allowing local economic priorities to be set at the local level."
In addition to presenting the fifth consecutive balanced budget, the Saskatchewan Government today announced the following investments to keep the provincial economy moving forward:
- $237.4 million for Saskatchewan municipalities - 87 per cent more than in 2007-08;
- $99 million for research and development - the highest amount in Saskatchewan history;
- $59.9 million for municipal infrastructure - the second highest total in Saskatchewan history; and
- $1.5 million in new funding for international trade and market development through the Saskatchewan Trade and Export Partnership and the Ministry of Agriculture.
"While our government is making key investments in the provincial economy, people in this province expect government spending to be sustainable and affordable in the long run," Harrison said. "To achieve this, our government reviewed its tax credits and economic programs and determined that local economic development is best delivered at the local level."
Enterprise Saskatchewan will save $4.0 million in this current budget year by ending the Enterprise Region program. The Ministry of First Nations and Métis Relations is also ending its $800,000 in funding for the Northern Enterprise Region program. Once the programs are fully phased out, the approximate savings for taxpayers will be a total of $6.8 million. Each Enterprise Region is an independent organization that can continue to operate with other sources of funding such as municipalities and local businesses. The Government of Saskatchewan is committed to working with the regions whether they continue to operate or choose to wind down.
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For more information, contact:
Joanne Johnson
Enterprise Saskatchewan
Regina
Phone: 306-787-7967
Email: joanne.johnson@enterprisesask.ca
Cell: 306-533-5519