SASKATOON, SASKATCHEWAN – The Saskatoon Regional Economic Development Authority (SREDA) manages the City of Saskatoon Business Development Incentives Policy, and actively seeks out businesses that can benefit from the incentives under this policy. This policy helps generate long-term job creation within Saskatoon by supporting business retention and expansion.

Through this policy, qualifying companies looking to establish or grow a business in Saskatoon can make use of various incentives to help maximize their expansion impact, including: exemptions or reductions of any city tax or fee, waiving of utility deposits and down payments on land and exemptions or reductions of prepaid servicing levies.

“The Business Development Incentives Policy is one example of how SREDA supports business growth in the Saskatoon region,” said Alex Fallon, President and CEO of SREDA. “Helping local businesses expand and create new jobs is important due to the positive impact on the Saskatoon region economy.”

In 2015, three local businesses expanding their Saskatoon operations were approved to receive support under this policy: Gemini Freight Systems Inc., Howatt Enterprises Ltd. (Continental Mine & Industry Supply Ltd. and Howatt Consulting Ltd.) and the Saskatchewan Food Industry Development Centre Inc. As a result of utilizing the incentives policy, these businesses collectively intend to expand their operating facilities by 49,000 square feet, create 23 full-time equivalent jobs and invest $26.25 million in land and new building construction.

“With the help of the Business Development Incentives Policy, we were able to invest in expanding our operations in Saskatoon on a site that will allow for additional growth in future years,” said Dan Prefontaine, President of the Saskatchewan Food Industry Development Centre Inc.

Fallon added that over the past 12 years the Business Development Incentives Policy has helped support 1,835 local jobs. An estimated $229.3 million has been invested and 82.6 percent of the companies were already located in Saskatoon prior to investing in expansion.

Learn More

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For more information about SREDA, please contact:
Erin Lawson, Marketing and Communications Manager
P: (306) 664-0708 E: elawson@sreda.com

The Saskatoon Regional Economic Development Authority (SREDA) helps grow the Saskatoon regional economy by providing programs and services in the areas of business attraction, business retention and expansion, entrepreneurship support, regional planning and marketing of the Saskatoon region. For more information, visit SREDA.com.

Top 10 Highlights
1. SREDA 2015 Economic Impact > page 1
2. SREDA’s Square One Program 2015 Results > page 2
3. 2016 Key Performance Indicators Announced > page 3
4. Q4 Economic Dashboard Released > page 4
5. Report Confirms, and Quantifies, the Economic Diversity of the Saskatoon Region Economy > page 3
6. Mining Technology EXPLORE Program Launch > page 4
7. Saskatoon North Partnership for Growth Draft Regional Land Use Map Released > page 5
8. Local Businesses Expand Through Business Development Incentives Policy > page 5
9. Manufacturing 2020 Report – CMI Partnership > page 6
10. SAEP Strategic Planning Session Outcome > page 7

SASKATOON, SASKATCHEWAN – The Saskatoon Regional Economic Development Authority (SREDA) is pleased to announce a brand new event: the Newcomer Entrepreneur of the Year Awards (NEYA). This annual event will showcase small business owners who have journeyed through immigrating to Canada and have successfully launched and grown their business in the Saskatoon region. The finalists will be honoured at the NEYA Gala on June 6, 2016 in Saskatoon, SK.

In 2015, Statistics Canada reported that over 21 percent of small and medium sized businesses were owned by an entrepreneur born outside of Canada, with Saskatchewan having the fourth largest amount of newcomer entrepreneurs in the country. With over 27,500 immigrants in the Saskatoon region, it is important to recognize the contributions of these entrepreneurs to our local economy.

Through its Square One program, SREDA helps entrepreneurs across the region to establish and grow their business.

“At Square One, we work with a variety of entrepreneurs and see first-hand the drive and determination it takes to be successful,” said DonnaLyn Thorsteinson, Senior Director of SREDA’s Square One program. “NEYA is an opportunity to recognize and celebrate newcomer entrepreneurs who have successfully started their business in the Saskatoon region.”

NEYA nominees must demonstrate entrepreneurial excellence and can be nominated in one of four award categories:

Startup Award – For entrepreneurs operating a business for less than 3 years.

Growth Award – For entrepreneurs that can demonstrate business growth.

U39 Award – For entrepreneurs between 18-39 years old.

Connect Award – For entrepreneurs operating a business for over 5 years.

“Immigration is a key component to the Saskatoon region’s diverse and sustainable economy,” said Alex Fallon, President and CEO of SREDA. “NEYA is an opportunity for businesses, organizations and individuals to come together and celebrate the successes of newcomer entrepreneurs in the Saskatoon region.

Nominations are now being accepted. The deadline for nominations is April 29, 2016. Award nomination forms and sponsorship information can be found at: squareonesask.ca/NEYA.

Learn More

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About SREDA
The Saskatoon Regional Economic Development Authority (SREDA) helps grow the local economy by providing programs and services in the areas of business attraction, retention and expansion; entrepreneurship support; regional planning; and marketing the Saskatoon region. For more information, visit SREDA.com.

About Square One
Saskatchewan’s Business Resource Centre assists Saskatchewan entrepreneurs in preparing for the first steps of starting or growing their business. Services include customized market research, business registration assistance, pathfinding, seminars and sample business plans. Square One is managed by SREDA, is a member of the Canada Business Network and is funded by Western Economic Diversification Canada. For more information, visit squareonesask.ca.

For more information, please contact:
Erin Lawson, Marketing and Communications Manager, SREDA
P: (306) 664-0708 E: elawson@sreda.com

 Top 10 Highlights
1. SREDA Introduces 2016 Board of Directors > page 1
2. Local Technology Company Expands in Saskatoon > page 2
3. Q1 Economic Update Released > page 3
4. What’s Next?: Adjusting to Steady Growth > page 4
5. SREDA Visits UK on Trade and Investment Mission > page 4
6. International Technology Companies Visit Saskatoon > page 5
7. Finalists Announced for the Newcomer Entrepreneur of the Year Awards > page 6
8. Saskatoon Regional Municipalities Clean Energy and Economic Development Forum > page 7
9. Saskatoon Ranked Second in Cost Competitive Cities for Business > page 7
10. SREDA Unveils Redesigned Website > page 7

SASKATOON, SASKATCHEWAN – The Saskatoon Regional Economic Development Authority (SREDA) honoured businesses and individuals at the first annual Newcomer Entrepreneur of the Year Awards (NEYA), which was celebrated in Saskatoon on June 6 at TCU Place.

“Last night’s gala was a celebration of newcomer entrepreneurs who have demonstrated the drive and determination it takes to be a successful business owner in the Saskatoon Region,” said Alex Fallon, President and CEO of SREDA. “Their stories are unique and inspiring, and reflect their desire to contribute to our community. We are delighted they have chosen to live in the Saskatoon Region, to build a future here and to build companies that generate employment opportunities for local residents. We are a strong community and a stronger economy because of their contribution.”

The 2016 NEYA winners are:

Startup – Colors of India, Sneha Chakraborty
Sneha Chakraborty moved to Saskatoon from India. Her passion to add to the growing diversity of Saskatoon, led her to utilize her entrepreneur skills and take her chances on opening Colors of India on Ave B. Her hard work, passion and growing customer demand for ethnic wares and clothing led to a bigger location within a year on 2nd Avenue. Today, the store is flourishing with her imports coming from vendors in India. She is a source of employment to newcomers struggling to start their careers.

Sneha supports fair trade vendors in India and adds to the local colour of Saskatoon not only with the vibrant colours of India in her boutique, but with her personality that knows no bounds when it comes to supporting the community in which she is involved.

Growth – Baydo Development Corp, Yufeng Wang
Yufeng Wang is the President and CEO of Baydo Development Corporation. Yufeng was born in China and received a scholarship to attend the University of Saskatchewan to complete his Ph. D. Yufeng started Baydo Development Corp. in 2010, and since its inception Baydo has invested over $100M in commercial, residential, multi-family and single family real estate projects in Saskatoon.

U39 – Odd Couple, Andy Yuen
Odd Couple is a locally owned, family operated Asian restaurant located in Riversdale, Saskatoon. Andy Yuen started the business in May 2014. Andy was able to identify and create a market niche in Saskatoon to become the premium Asian restaurant of choice. Odd Couple offers modern Asian flavors, local beers/great wine and Asian inspired cocktails in a sophisticated, modern, upbeat yet friendly and elegant setting. Andy incorporates local products/produce including various products from Riversdale Asian grocery stores. Odd Couple employs more than 20 employees, including 9 newcomers. Since opening, the restaurant has exceeded expectations, with 2016 sales increasing more than 30% over last year.

Connect – Manila Cleaning Services, Florentino and Myrna Aranda
Florentino and Myrna Aranda immigrated to Canada in 1977 from the Philippines. In April 2007, they started Manila Cleaning Services Ltd., a commercial and industrial cleaning company. Opening this business gave Florentino ad Myrna an opportunity to help new immigrants and pay them a wage that allows them to have a better life in Canada. 

From 2007 – 2009 the business grew from 5-12 janitorial contracts and from 7-16 employees by early 2009. Now Manila Cleaning Services has over 80 employees working full-time and part-time. Some of the company’s major contracts include: SaskTel and Co-op Grocery Stores, Home Centers and Gas Bars in Saskatoon, North Battleford, Martensville and Warman.

Due to the overwhelming stories that were received, SREDA decided to create a special award called the NEYA Spirit Award. This award was presented to the business that best embodies the spirit of a newcomer entrepreneur. The 2016 NEYA Spirit Award was awarded to Wajid and Maysoon Toma of First Impressions Hair Designs. Wajid and Maysoon’s journey to the Saskatoon Region had both challenges and joys as they searched for a better life in Canada.

NEYA Spirit – First Impressions Hair Design, Wajid and Maysoon Toma
Maysoon and Wajid Toma immigrated to Canada from Iraq in search for a better life. They overcame many obstacles in their journey to Canada. Once their arrived in Canada, they were energized by the possibilities of a new start. Maysoon and Wajid worked tirelessly to learn English and towards their goal of owning a hair salon.

In June 2009, five years after arriving in Canada without money, knowledge of English and an understanding of the Canadian culture, Wajid and Maysoon opened First Impressions Hair Design. This business has grown in every way. There are more services offered, more employees, regular improvements to facilities, and an increasing cliental. First Impressions Hair Design is a family business. You can feel the warmth and love in this establishment. Wajid and Maysoon’s four children were raised in the family business, and, gradually, the children are following in their parents’ footsteps.

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For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0708 E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – Canadian Business and PROFIT have ranked Saskatoon #3 on the 2016 ranking of Canada’s Best Places for Business. Saskatoon was also ranked #4 on their list of Canada’s Most Lucrative Markets for Business.

The Saskatoon Regional Economic Development Authority (SREDA) submitted the data used to determine the ranking.

“The Saskatoon Region’s mix of economic diversity, low business costs and high quality of life make it a leader when it comes to places with advantageous business environments,” said Alex Fallon, President and CEO of SREDA. “Canadian Business and PROFIT’s ranking validates what we already know, the Saskatoon Region continues to be a first-rate location for entrepreneurs and executives to start, expand or relocate their business.”

The 2016 Canada’s Best Places for Business ranking factors in more than 20 indicators of cost, market trends and business friendliness collected from various sources and participating municipalities. The Most Lucrative Markets for Business is a ranking of municipalities based on population factors including size, growth rate, household income and education levels. Saskatoon’s increasing population growth, value of building permits and low lease and tax rates scored positively in the determination of these rankings.

“Our province is attractive to businesses and families for many reasons from low taxes to cost of living and lifestyle,” said Economy Minister Bill Boyd. “Congratulations to Saskatoon for being ranked so highly compared to so many other jurisdictions across the country for being a great place to invest and do business.”

View Complete List

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About Canadian Business
Founded in 1928, Canadian Business is the longest-serving and best-selling business publication in the country. With a cross-platform readership of nearly 1 million, it is the country’s premier media brand for executives and senior business leaders. It fuels the success of Canada’s business elite with a focus on the things that matter most: leadership, innovation, business strategy and management tactics.

About PROFIT and PROFITguide.com
PROFIT: Your Guide to Business Success is Canada’s preeminent media brand dedicated to the management of small and mid-sized businesses. For 34 years, Canadian entrepreneurs across a vast array of economic sectors have remained loyal to PROFIT because it’s a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at PROFITguide.com.

For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – The Saskatoon Regional Economic Development Authority (SREDA) is pleased to announce a brand new event: the STIC Awards (science, technology, innovation and collaboration). This annual event will showcase the people, projects and products that contribute to the Saskatoon Region’s world-class science and technology cluster. The finalists will be honoured at the STIC Awards Presentation on October 20, 2016 in Saskatoon, SK.

“The Saskatoon Region has some of the world’s most accomplished science and technology innovations. These innovations add value to the local economy by creating jobs, wealth and knowledge, and positioning the Saskatoon Region as a global competitor,” said Alex Fallon, President and CEO of SREDA. “The STIC Awards will shine a light on the outstanding people in our science and technology cluster and showcase the pioneering projects and products happening right here in the Saskatoon Region.”

The STIC Awards is proudly presented by Innovation Saskatchewan.

“The Government of Saskatchewan is committed to supporting innovation and the commercialization of new technologies that add to the strength and diversification of the provincial economy,” said Wes Jickling, CEO of Innovation Saskatchewan. “Innovation Saskatchewan is proud to be the presenting sponsor of the STIC Awards. These awards will help showcase the world-class sciences and technology sector in the Saskatoon Region.”

Applications are now being accepted for the following award categories:

Project Award – This award recognizes a project that has the potential to contribute significantly to its sector.

Product Award – This award recognizes an innovative product or service that has significantly impacted its sector.

Ambassador Award – This award recognizes an inspiring individual that has made extensive contributions to the Saskatoon Region, by promoting sciences, technology and/or innovation.

Team Award – This award recognizes a passionate, knowledgeable and collaborative team that has made unique contributions to their sector.

The application submission deadline is September 27, 2016.

More Info

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For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

 Top 10 Highlights
1. Saskatoon Third Best City for Business > page 1
2. Q2 Economic Update Released > page 2
3. First Annual NEYA Celebrated > page 3
4. Applications Now Open for STIC Awards > page 4
5. SREDA Introduces New Economic Commentary > page 5
6. SREDA Supports Aboriginal Entrepreneurs Through SOAR Program > page 5
7. SAEP Report Released > page 6
8. P4G Regional Plan Project Update > page 6
9. Confidence in the Saskatoon Region Economy > page 7
10. Saskatoon Mayoral Forum 2016 > page 7

SREDA, The Chamber and NSBA have partnered to present an all-candidates forum for the upcoming Saskatoon Mayoral Election. Find out how each candidate would serve the local economy and business community should he or she become the next Mayor of Saskatoon.

Date:  September 28, 2016
Time:  3:30 p.m. – 5:00 p.m.
Location: Prairieland Park – Hall B

Moderator: Vic Dubois, General Manager – Saskatoon Media Group

Can’t make it to the forum? Watch the forum LIVE through Shaw TV or listen to it on 98COOLFM!

The Saskatoon Region economy is one of the most diversified economies in the country. The backbone of this diverse economy is an army of small businesses.

Earlier this year, SREDA released an insights piece on the impact small businesses have on the local economy. According to the Statistics Canada Business Register, 99.8% of all Saskatchewan businesses fall in the small or medium category, while only 0.2% (87 businesses) are classified as large.

“With entrepreneurship on the rise and a new generation of Saskatchewan entrepreneurs launching new companies, there is no doubt small businesses will continue to have a significant impact on the local economy,” said Alex Fallon, President and CEO of SREDA.

“The increase for entrepreneurial support has been steadily increasing at Square One. This past quarter alone we saw a 25 percent increase in requests compared to 2015,” said DonnaLyn Thorsteinson, Senior Director at Square One.

To celebrate Small Business Week, SREDA’s Square One program will be hosting free seminars on a variety of business topics all week.

“The response to our Small Business Week seminars was overwhelming. We sold out earlier this month and added more seminars to fill the demand,” said Thorsteinson.

For more information on Square One, visit: squareonesask.ca

View SME Insights

Saskatoon Region Q3 2016 Economic Dashboard Maintains C Grade

SASKATOON, SASKATCHEWAN – Today, the Saskatoon Regional Economic Development Authority (SREDA) released its Quarter 3 2016 Economic Update Report and Dashboard for the Saskatoon Region. The report rates the status of the local economy with a C grade, maintaining the Quarter 2 2016 rating.

“The Saskatoon Region economy continued to demonstrate strength and resilience over the previous quarter. Despite the ongoing weakness in commodity prices, several key economic indicators pointed to stability and, in some cases, modest growth compared to Q2,” said Alex Fallon, President and CEO of SREDA. “Given recent improvements in local economic data, SREDA remains cautiously optimistic on the near-term economic outlook and is maintaining its “C” rating for the Saskatoon Region economy.”

The report summarizes seventeen key economic indicators related to GDP, employment, housing, retail, business licenses and more. Also included is sector news and input from local business groups and industry experts.

“The local economy has benefited from significant infrastructure investment, higher provincial wholesale trade and manufacturing shipments and continued strong population growth,” added Fallon.

“The growth driving components of our business mix have changed significantly over the past nine months. Overall employment is essentially flat year on year and population growth continues. These facts offer stability for our economic prospects. While some components of the business community are experiencing growth, other portions of Saskatoon’s business base are experiencing lower activity levels,” said Kent Smith-Windsor, Executive Director of the Greater Saskatoon Chamber of Commerce.

“Although there has been some business contractions and employee reductions in the marketplace, the majority of Saskatoon businesses have withstood the lower activity and volume relatively unscathed. With oil prices becoming consistently stronger and companies ramping up production, there is cautious optimism that the trough is now behind us,” said Keith Moen, Executive Director of the North Saskatoon Business Association.

“Inventory levels of existing housing stock are slowly being reduced, currently sitting at 13% above the five year average. This is due to above average sales in August and a reduction in the number of additional units to the MLS system. Recent Federal changes affecting buyers qualifying for high ratio mortgages will likely impact sales in the weeks ahead,” said Jason Yochim, CEO of the Saskatoon Region Association of Realtors.

“A soft July was followed by enhanced performance in the later part of Q3. Air passenger numbers remained close to record levels. Total tourism volume was slightly off 2015 numbers. Recent Statistics Canada Data received in August confirmed tourism expenditures of $541 million annually,” said Todd Brandt, CEO of Tourism Saskatoon.

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View Dashboard

For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – The Saskatoon Regional Economic Development Authority (SREDA) honoured businesses and individuals at the first annual Science, Technology, Innovation and Collaboration (STIC) Awards, which was celebrated in Saskatoon on November 16 at Louis Loft.

“Last night’s awards presentation was a celebration of the outstanding people in our science and technology cluster and the pioneering projects and products being created right here in the Saskatoon Region,” said Alex Fallon, President and CEO of SREDA. “These innovations add value to the local economy by creating jobs, wealth and knowledge, and positioning the Saskatoon Region as a global competitor. The caliber of the 2016 STIC finalists and winners clearly demonstrates the Saskatoon Region is a hub for science and technology innovations.”

The 2016 STIC Award winners are:

PROJECT AWARD – Development of a vaccine for Porcine Epidemic Diarrhea virus
Vaccine and Infectious Disease Organization – International Vaccine Centre (VIDO-InterVac)
University of Saskatchewan

In less than a year, University of Saskatchewan scientists have developed and tested a prototype vaccine that could protect the North American swine industry from a virus that has killed more than eight million pigs and costs more than $400 million in lost income since 2013.

PRODUCT AWARD – Variation Designer
Solido Design Automation

Solido’s software enables the creation of electronic chips with optimal performance (to improve chip speed), power (to improve battery life), area (to reduce chip size) and yield (to reduce chip manufacturing cost). Solido’s software is faster, more accurate, and more scalable than its competitors based in USA, Germany and China.

TEAM AWARD – Natural Resource Technology Program
Saskatchewan Polytechnic

Saskatchewan Polytechnic’s Natural Resource Technology (NRT) Program has been training fish and wildlife technicians, foresters and conservation officers since the early 1960’s. The success of this program, is due to a willingness among faculty to embrace new technologies while never losing sight of the organic field experience that is integral to resource stewardship.

STIC AMBASSADOR AWARD – Dale Lemke
Mr. Lemke has an extensive career in the science and technology sectors and has spent countless hours volunteering his time to help young entrepreneurs and new companies start and succeed in Saskatoon. Mr. Lemke’s career began in the Aviation Department of UND where he wrote computer programs to analyze radar weather data to determine the results of cloud seeding programs in the prevention of hailstorms. Since then he has started and helped create numerous companies and organizations in the science and technology sectors, including multiple Computerland stores, Display Systems International (DSI), Terminal Systems International, SAINT, Saskatchewan Capital Network and the Saskatchewan Advanced Technology Association. Today, Mr. Lemke spends most of his time mentoring young entrepreneurs in Saskatoon. He participates on numerous boards and is involved in mentorship programs such as the Entrepreneur in Residence program at the University of Saskatchewan, the Summer Youth Internship Program (SYIP) and the Raj Manek Mentorship Program. On top of this, Dale and DSI provide free start-up incubator space and services to support and mentor young entrepreneurs in the development of their business.

The finalists and winners were chosen by the STIC Selection Committee. This committee consisted of local industry, government and academia stakeholders.

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Finalist Videos

For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

2016 was a year of adjustment for the Saskatoon Region economy. Coming off several years of extraordinary growth, we saw some challenges in the energy sector, reduced commodity prices and a slowdown in the construction industry. However, overall the Saskatoon Region economy continued to demonstrate strength and resilience throughout the year, with several economic indicators pointing to stability, and in some cases, modest growth.

When compared to key national economic indicators, the Saskatoon Region economy is faring well, especially in terms of population growth and labour market indicators. In fact, the Saskatoon Region outperforms the national average on population growth, labour force growth, participation rate, employment rate and unemployment rate. This comparison shows the Saskatoon Region continues to be a first-rate location to live, work and prosper.

In 2016 SREDA generated an economic impact of $48.5 million and an ROI of 25:1.The SREDA team successfully executed many new initiatives to strengthen and grow the Saskatoon Region economy. A highlight for the year was being awarded the Economic Developers Association of Canada (EDAC) President’s Cup for our efforts in marketing the Saskatoon Region.

As we venture into 2017, SREDA looks forward to a period of more moderate growth, but growth nonetheless. The diversity of our local economy will provide stability and create new opportunities for growth. SREDA is forecasting GDP growth of 2% for 2017 and we expect to continue to see increases in both population and employment. SREDA’s focus for 2017 will continue to be strengthening and growing the local economy by attracting new businesses, helping local companies grow, supporting entrepreneurship, marketing the Saskatoon Region, providing economic analysis and leading regional economic development and planning.

I hope we all continue to remember that regardless of the ups and downs of the economy we are lucky to live and work in an amazing city with a truly diversified economy, strong entrepreneurial spirit and bright outlook for the future.

Alex Fallon
President and CEO, SREDA

SASKATOON, SASKATCHEWAN – Four international technology companies have traveled to Saskatoon to showcase their mining technologies as part of SREDA’s second annual Mining Technology Explore Program (EXPLORE) supported by the Saskatchewan Ministry of the Economy. EXPLORE provides an opportunity for technology start-ups from around the world to compete to travel to Saskatoon to showcase their technology and seek business opportunities in the Saskatoon Region.

“The goal of EXPLORE is to bring companies with innovative technologies to the Saskatoon Region that add value to our local industries,” said Alex Fallon, President and CEO of SREDA. “The response to this year’s program was tremendous with 18 companies from six countries applying to be a part of the program. This interest from global technology companies speaks volumes about the strength and long-term potential of the Saskatoon Region economy and the growing interest in our local technology sector.”

The four winning companies selected for the 2017 EXPLORE program are: 6^th Wave Innovations (USA), RockMass (Ontario), Vayeron (Australia) and Yoy Simulators (Chile). These companies will be in Saskatoon from April 3-5 to attend the Saskatchewan Mining Supply Chain Forum, network with industry leaders and showcase their technologies.

“We are thrilled to be chosen as one of SREDA’s 2017 EXPLORE program winners. We are eager to learn more about opportunities in the Saskatchewan mining industry and investing in the Saskatoon Region,” said Ruth Tapia G., Commercial Manager, Yoy Simulators.

The applicants were reviewed by the EXPLORE Selection Committee. This committee consists of representatives from Saskatchewan organizations: International Minerals Innovation Institute, Innovation Saskatchewan, Saskatchewan Ministry of the Economy, Saskatchewan Polytechnic, Saskatchewan Industrial and Mining Suppliers Association, University of Saskatchewan and Westcap Mgt. Ltd.

“The selection committee was once again impressed by the quality and scope of this year’s EXPLORE applicants. This program is a great opportunity to globally showcase the Saskatoon Region and our local mining industry,” said Christopher Bowman, Portfolio Manager, Innovation Enterprise, University of Saskatchewan.

The success of EXPLORE, now in its second year, has lead SREDA to expand with the launch of HARVEST, an agriculture focused program. Applications will open April 10 and selected companies will be in Saskatoon July 18-20 to participate in Ag in Motion.

“EXPLORE and HARVEST are examples of how SREDA globally promotes the Saskatoon Region to support business attraction and investment to the Region,” said Fallon.

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Watch Facebook Live Video

For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – The Saskatoon Regional Economic Development Authority’s entrepreneurship program Square One honoured businesses and individuals at the second annual Newcomer Entrepreneur of the Year Awards (NEYA), which was celebrated in Saskatoon on June 6 at The Sheraton Cavalier.

“Last night’s gala was a celebration of newcomer entrepreneurs who have demonstrated the drive and determination it takes to be a successful business owner in Saskatchewan,” said Alex Fallon, President and CEO of SREDA. “Their stories are unique and inspiring, and reflect their desire to contribute to our community. We are delighted they have chosen to live in Saskatchewan, to build a future here and to build companies that generate employment opportunities for local residents. We are a strong community and a stronger economy because of their contribution.”

The 2017 NEYA winners are:

Start-Up – Press’d Sandwich Stonebridge, Smitaben Patel
Smitaben moved to Canada from India in January 2010 and opened Press’d Sandwich in Stonebridge April 2016. Press’d is a sandwich store franchise offering healthy sandwiches for walk-in, take-out and catering. The store specializes in providing customers with a fresh healthy alternative to typical fried fast-food.

Growth – S&E Trusted Online Directories Inc., Sara Wheelwright
Sara moved to Canada from the United Kingdom in April 2006 and launched TrustedSaskatoon.com in 2011, TrustedRegina.com in 2012 and Trusted Marketing Services in 2014. The Trusted Online Directories are online directories that list and promote locally owned Saskatchewan companies that are run with integrity. Trusted Marketing Services is a full service marketing agency offering everything from social media management, website design, video creation, SEO and full creative services.

U39 – Complete Technologies, Andrey Olinov
Andrey moved to Canada from Moscow in 2009 and started Complete Technologies in 2011. Complete Technologies is an outsourced IT department that allows businesses to spend more time on other areas of their business. Complete Technologies uses the latest technology and industry leading tools to successfully maintain and improve their IT service with world-class customer service.

Connect – Kavia Auto Body Inc., Raj Kavia
Raj moved to Canada in 1983 and his father started Kavia Auto Body in 1986. Kavia Auto Body is a reputable auto collision repair facility that is SGI elite approved. They also offer auto glass replacement, paint less dent repair and have a fully transferable nationwide warranty. Kavia Auto Body uses modern tools from laser frame measuring equipment to resistance welding.

Employer – Memories Dining & Bar, Thomas Siarkos
Memories Dining & Bar is a full-service fine dining restaurant in Regina, Saskatchewan. Over the years, Memories Dining & Bar has sponsored and hired many newcomers to Canada from several countries around the world. The staff are treated like family, with many being with the restaurant from the beginning.

At the end of the evening, SREDA announced a special award called the NEYA Spirit Award. This award was presented to a business that best embodies the spirit of a newcomer entrepreneur. The 2017 NEYA Spirit Award was awarded to Vincent Lu of Ground Yoga. Since moving to Saskatoon Vincent has built a business around giving back to the community through his passion, yoga.

NEYA Spirit – Ground Yoga, Vincent Lu
Vincent moved to Canada from Taiwan in October 2010 and opened Ground Yoga in July 2011. Ground Yoga is a yoga studio in the Broadway District of Saskatoon. It’s an all-inclusive, welcoming space that is family owned and managed. Ground Yoga has 42 classes, 24 teachers, and utilizes an ‘Energy Exchange’ program for our 20 desk and cleaning staff. The schedule reflects a diverse range of classes for all ages and abilities.

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For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724 E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – Today, The Local Kitchen in partnership with SREDA’s entrepreneurship program, Square One, launched a new entrepreneurship competition called The Next Great Food Business. The Saskatoon based competition targets both aspiring entrepreneurial Chefs and Chefs currently operating a food business and are ready to commercialize their product or increase their sales.

“Saskatoon is known for our innovative culinary ideas. We are excited to give a platform to new and amazing food businesses to further showcase our local talent,” said Julie Gryba, Co-founder of The Local Kitchen.

Five finalists will be chosen to battle it out for the ultimate title of Saskatoon’s Next Great Food Business. The finalists will participate in a series of business workshops followed by a cook-off where the winner of The Next Great Food Business will be chosen by a panel of professional Chefs and restaurant owners. The winner will receive a full year’s membership at The Local Kitchen, 25 free kitchen hours and bragging rights in the local food community.

“We are thrilled to partner with The Local Kitchen on this first ever food business competition in Saskatoon,” said DonnaLyn Thorsteinson, Program and Operations Director at SREDA. “Our Square One program focuses on helping Saskatchewan entrepreneurs start and grow their business through providing resources and access to local business experts. This competition is a platform for the next up-and-coming food entrepreneurs to showcase their food product while learning the fundamentals of running a successful business.”

Applications for the competition are now being accepted. Application deadline is August 1 and finalists will be announced on August 18.

For more information, and to apply for The Next Great Food Business, visit: thelocalkitchenyxe.com.

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About The Local Food Kitchen
The Local Kitchen is a food business incubator located in Riversdale, where food businesses can rent commercial kitchen time as well as receive ongoing business support. For more information, visit: thelocalkitchenyxe.com. 

About Square One
The Saskatoon Regional Economic Development Authority’s entrepreneurship program, Square One, assists entrepreneurs with the first steps in starting or growing their business in Saskatchewan. For more information, visit: squareonesask.ca.

For more information on The Local Kitchen, please contact:
Julie Gryba
Co-founder
P: (306) 203-9451   E: julie@thelocalkitchenyxe.com

For more information on SREDA/Square One, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – Four international technology companies have traveled to Saskatoon to showcase their agriculture innovations as part of SREDA’s first annual Agriculture Technology Harvest Program (HARVEST). HARVEST is a competition for agriculture technology companies to travel to Saskatoon and bring agriculture advancements from all corners of the globe to Saskatchewan farmers.

“Saskatchewan is known for its strong agriculture roots so the tremendous response to our first-ever HARVEST program was not surprising. We received 27 applications from companies in 12 countries applying to be a part of the program,” said Alex Fallon, President and CEO of SREDA. “This interest from global technology companies speaks volumes about Saskatchewan’s agriculture sector and Saskatoon as a hub for ag-technology and innovation.”

The four winning companies will be in Saskatoon from July 17-20 to attend and exhibit at Ag in Motion, network with industry leaders and showcase their technologies.

2017 HARVEST Winners
Beef Improvement Opportunities (BIO) is an Ontario based company presenting BioTrack, a data capture technology which provides insights for farmers, including pedigree, movements, health, scoring, etc. of beef, sheep, goats, and bison. A key feature of BioTrack is that it can be used on all smart phones and maintains usability outside of cell range. http://www.biooffood.com/

PBD Biotech Ltd. is a U.K. based company with proven technology for diagnosis of bacterial infections in animals. PBD Biotech’s technology enables the rapid detection and characterization of mycobacterial infections such as bovine tuberculosis in animals. The technology has applications in terms of disease control, herd movement, food safety, and epidemiology. http://www.pbdbio.com/

PlantArcBio Ltd. is an Israeli based company with a unique IP protected gene discovery platform. Currently discovered genes can improve drought tolerance and yield in main crops, such as Canola. Plant Arc Bio aims to bring productivity and performance to crops for the advancement of Global Food Security. www.plantarcbio.com

Simpson Biotech Co. Ltd. is a Taiwanese based company presenting innovative technology in the production of dietary supplements by fermentation and biotransformation. Their technology includes innovations in bacteria detection systems, fermentation of medicinal fungus, and the development and production of recombinant proteins and industrial enzymes. http://www.simpsonbiotech.com/?lang=2

“We are thrilled to be chosen as one of SREDA’s 2017 HARVEST program winners. We are looking forward to bringing our technology to Saskatchewan farmers, connecting with potential partners in the Saskatchewan agriculture industry and learning more about investing in the Saskatoon Region,” said Dror Shalitin, Founder and CEO of PlantArcBio Ltd.

The applicants were reviewed by the HARVEST Selection Committee. This committee consists of representatives from Saskatchewan organizations: Ag in Motion, Ag-West Bio, Farm Credit Canada, Innovation Saskatchewan, Morris Industries, Saskatchewan Ministry of Agriculture, Saskatchewan Ministry of the Economy and Westcap Mgt. Ltd.

“The selection committee was very impressed by the quality and scope of this year’s HARVEST applicants. The four winners each have innovative technologies that may benefit the Saskatchewan agriculture industry,” said Brad Bly, Director of Commercialization at Ag-West Bio.

HARVEST is an extension to SREDA’s EXPLORE program, held this past April, geared towards mining technologies. SREDA plans to continue these types of programs to globally promote the Saskatoon Region and support business attraction and investment to the Region.

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View Facebook Live Video

For more information and to arrange an interview, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – Today, the Saskatoon Regional Economic Development Authority (SREDA) released its Quarter 2 2017 Economic Dashboard for the Saskatoon Region. Recent economic indicators have shown signs of stability and modest growth in the local economy.

“Stabilized consumer and business confidence define the past quarter, demonstrated by consistent year-to-date increases in provincial wholesale trade, new car sales, and retail sales. While Saskatoon Region growth continues to be moderate, some ongoing uncertainty in the housing and construction sectors limited greater improvements. Key indicators display signs of economic security, with GDP exhibiting a higher growth rate than in Q1,” said Alex Fallon, President and CEO of SREDA.

SREDA rates the status of the local economy with a C+ grade, maintaining the Quarter 1 2017 rating.

“Overall, recovery has evolved into stability in Q2, and we expect the Saskatoon Region economy to gain continued balance throughout the remainder of 2017,” said Fallon.

The dashboard includes recent economic indicators related to GDP, employment, housing, retail, business licenses and more. Quarter 2 highlights include positive results for GDP, new business licenses, retail sales and wholesale trade. On the downside, the Saskatoon Region’s unemployment rate sits at 8.2% compared to the national average of 6.5%.

“Economic indicators show that growth, investment and optimism have superseded an underlying theme of concern among business in the region during the commodity down cycle. Saskatchewan merchandise exports, year over year from May 2016 to May 2017 were up $2.6B. Employment is up by 4,600 year over year in June, and new car sales are up 15% year to date from last year as well. Perhaps most importantly, investor confidence in the region continues with the announcement of a $50-million Class A office space development for the expansion of the World Trade Center network into Saskatoon,” said Keith Moen, Executive Director, North Saskatoon Business Association.

“The Chamber’s recent “Health Vision 20/20 Conference” demonstrated a lot of business growth in the innovation and the technology sectors in Saskatoon.  The commitment from the provincial government to fostering innovation indicates that these sectors continue to play an important role in the city’s economy. We are looking forward to supporting continued growth and new business startups in these sectors in the near future,” said Darla Lindbjerg, President and CEO, The Greater Saskatoon Chamber of Commerce.

“Rather than taking reports of housing starts being up or down overall at face value, it’s important to look at the differences between dwelling types to properly understand the current landscape. We continue to see increases in the permits pulled for single family homes, and those increases should be reflected in new housing starts in the coming months. We can also see an important change in the quantity of renovation permits being pulled in Saskatoon, with an increase year over year of 43% in Saskatoon as of the end of May 2017.  Homeowners are still very much investing in their homes; the future challenge as a region will be how to maintain housing affordability,” said Chris Guerette, CEO, Saskatoon & Region Home Builders’ Association.

“We now have three consecutive quarters within the industrial and office sectors to illustrate vacancy rates have either stabilized or decreased. Retail vacancy as of Q2 2017 sits at only 3% and demand remains strong. Repurposing of the Saskatoon Police Station to office use, commencement of the River Landing project and the announcement that construction will begin on World Trade Centre this fall illustrates confidence that the Saskatoon office market has turned the corner. Although the sale of industrial and residential townhouse land remains anemic, there is a healthy demand for investment in other sectors of commercial real estate from both owner occupants and investors,” said Barry Stuart, Managing Partner Senior Sales Associate, ICR.

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Q2 2017 Economic Dashboard

For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – The leading economic development publication, Site Selection Magazine, has recognized the Saskatoon Regional Economic Development Authority (SREDA) as one of Canada’s best locations. This select group is made up of the country’s top-performing economic development agencies.

“To be included in Site Selection Magazine’s list of top economic development groups in Canada is a huge honour and testament to the quality of work performed by the SREDA team. This recognition validates the impact of the strategies and results we have delivered to further strengthen and grow the Saskatoon Region economy,” said Alex Fallon, President and CEO of SREDA. “We are fortunate to work on behalf of a great community like the Saskatoon Region.”

The criteria established by Site Selection Magazine includes project data, regional partnership, proactive and innovative programming, quality data and marketing and resources. In recent months SREDA has successfully delivered many innovative economic development programs including the Newcomer Entrepreneur of the Year Awards, a celebration of entrepreneurs who have demonstrated the drive and determination it takes to be a successful business owner in the Saskatoon Region; our Agriculture Technology HARVEST program, a business attraction program where technology companies competed to travel to Saskatoon to showcase their technology; our Regional Business Showcase Series, a tour throughout the Saskatoon Region for people to learn and experience business, investment and partnership opportunities in the Region and many other initiatives.

“As a member of the SREDA Board of Directors, I would like to congratulate SREDA on being recognized as one of the top economic development groups in Canada,” said Mayor Charlie Clark. “As our local economy has changed, SREDA is playing an increasingly valuable role in helping position us to succeed into the future.”

“Three years ago SREDA set the bold goal of transforming the organization into the best economic development agency in Canada. Today, with the release of Site Selection Magazine’s list of top Canadian economic development groups, I am proud to say we have accomplished this goal,” added Fallon. “Looking ahead SREDA will continue to build on this momentum by remaining committed to delivering economic development initiatives that further strengthen and grow the Saskatoon Region economy, with a few unexpected twists along the way.”

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For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com

SASKATOON, SASKATCHEWAN – Today, the Saskatoon Regional Economic Development Authority (SREDA) released a report that estimates the size of Saskatoon’s growing technology sector. The report also highlights key areas for how growth in the sector can be better supported. Often overshadowed by our local economy’s focus on natural resources, the technology sector contributes value to the Saskatoon Region through high-paying jobs and economic diversification.

The report was created to develop an understanding of the local technology sector and determine its impact on the economy. In addition, the report incorporates feedback from industry stakeholders to establish three specific recommendations on how to grow the sector further.

“With each passing year, technology becomes a bigger part of our world and having a robust technology sector is increasingly important as we become a more knowledge-based economy,” said Alex Fallon, President and CEO of SREDA. “It makes sense for Saskatoon to capitalize on this growth. Expanding our technology sector provides an opportunity to attract talented professionals to the Saskatoon Region, create highly-skilled jobs, and better diversify our economy.”

“Supporting and empowering Saskatoon’s emerging technology sector is an important part of diversifying our opportunities for success in a changing global economy,” said Charlie Clark, Mayor of Saskatoon. “Technology is a huge and growing part of our lives, and as this report indicates Saskatoon has many of the key components to grow this sector and ensure that Saskatoon’s other economic drivers can benefit from technological innovation.”

While interpretations of what firms fit within the technology sector vary, the report estimates that there are over 65 technology businesses currently operating in Saskatoon. Roughly 8,000 professionals are employed within Saskatoon’s technology sector. The report also estimates that the technology industry accounts for roughly 2.5 percent of all Saskatchewan businesses, and 1.3 percent of provincial employment.

Based on research and industry stakeholder consultations, the report concludes that the development of a robust technology sector within Saskatchewan is dependent on improvements in talent acquisition, capital funding, and scale-up support. Each of these three areas is canvassed in the report, which also includes a call to action on how to grow Saskatoon’s technology sector into a keystone industry.

“Given the recent international success of local technology companies such as Noodlecake Studios and Skip the Dishes, it is apparent that Saskatoon has the ability to support world-class technology businesses”, said Emmett Ruff, co-author of the report. In SREDA’s view, expanding talent networks, funding programs, and scale-up support can help Saskatoon become a top region for the establishment of even more industry-leading technology startups.

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View Report

For more information, please contact:
Erin Lawson
Director, Marketing and Communications
P: (306) 664-0724   E: elawson@sreda.com