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Economic News Economic News -- February 22, 2008Estevan RegionEstevan Sunrise Community Futures is offering a series of business workshops in March. Topics include Successful Employee Recruitment, GST and Your Business, Small Business Taxes, Am I Ready for Self-Employment?, and Planning for Business Success. (Estevan Mercury, February 13, 2008) Montmartre Bet'r Bait, a home based family business, is launching their non-toxic mouse trap bait. The product was developed and manufactured on the farm. Norman and Loretta Englot and Kevin and Lydia Shiplack are the partners in this venture. Their website is: http://www.betrbait.com/Home.html (The Whitewood Herald, February 18, 2008) Southeast Saskatchewan The Southeast Community Settlement Committee (SCSC) has received federal funding from Citizenship and Immigration Canada for their program. The SCSC was established to assist new immigrants and their families settle in our communities. Various services include diversity and sensitivity training, hosting a resource library, cultural events, and a mentorship program. (Estevan Mercury, February 13, 2008) North Battleford RegionCut Knife Maidstone Meadow Lake North Battleford The City is undertaking a $3.6 million project to expand the city's water well treatment plant to double its current size. A portion of the funding will come through the Municipal Rural Infrastructure Fund. (Powerflyers Daily News Online, February 20, 2008) Wilkie Prince Albert RegionCarrot River Hudson Bay Melfort The Melfort and District Chamber of Commerce had its annual general meeting and elected Grant Schutte as president to take over from outgoing president Jim Thiessen. The directors are Clint Mason, Kevin Gemmell, Kay Grinde, Ron Bowditch, Donna Fouillard, Corrie Fischl, and Garth Bradley. Vice president is Shawn Russin and treasurer is Ken Hookway. (The Melfort Journal, February 13, 2008). Nipawin Tisdale Regina RegionLumsden Regina Regina's total housing starts were down 22% in January 2008 over the same period last year due to a sharp drop in multi-family housing construction. Total housing starts for the month were 75, compared with 96 for January 2007. Single family starts were up 54% to 60 units, compared with 39 units in January 2007. (Regina Leader-Post, February 9, 2008) According to the housing price index released by Statistics Canada, Regina house prices increased by 26% in 2007, the second highest increase among all Canadian cities. (Regina Leader-Post, February 12, 2008) The Regina & District Chamber of Commerce and the Canadian Youth Business Foundation are teaming up to help young entrepreneurs not only start their own businesses, but keep them running. A new partnership was announced that will see chamber members take a more active role in fostering entrepreneurship in the community. (Regina Leader-Post, February 13, 2008) Adam Hicks has been named the 2008 Saskatchewan Student Entrepreneur Champion. Hicks successfully created Adam Hicks Painting Enterprises two years ago. In the summer of 2007, Hicks' company painted 106 houses while employing anywhere from 15 to 22 painters at a time. The award was presented by CIBC and Advancing Canadian Entrepreneurship (ACE). (Regina Leader-Post, February 14, 2008) According to the Colliers McClocklin's annual commercial real estate review forecast, it is expected that a new office building will be built in downtown Regina within 24 months, given the continued low vacancy rate and steady demand for space. Regina's office lease rates are now comparable to those in larger cities, like Halifax and Montreal, but still well below rates in Toronto and Calgary. On the industrial side of the market, Regina boasts relatively low vacancy rates. While current industrial lease rates are around $4 per sq. ft. in Regina, new space is leasing for upwards of $10 per sq. ft., comparable to rates in Calgary. (Regina Leader-Post, February 14, 2008) The Government of Saskatchewan's job-search Web site, SaskJobs.ca, experienced a sharp rise in site visits over January 2008. The amount of hits in January was 350,686, which represents a 54% increase over visits in December, and a sharp increase over the 12 month average of 274,186. (Regina Leader-Post, February 14, 2008) Fellinger's Red Meat Wagon has moved out of the Fulton Drug building. Kurt and Diana Fellinger purchased the building at 3524 13th Avenue and re-opened their business at the beginning of February. (Regina Leader-Post, February 15, 2008) Regina-based jewellery designer, Rachel Mielke will show her jewellery collection, Hillberg & Berk at this year's 2008 Oscars gifting lounge. The 80th Annual Academy Awards have invited Hillberg & Berk to gift products to the event's presenters, nominees, and other A-List celebrities. The gifting lounge will be situated atop The Beverly Hills Hotel in Los Angeles, where the Saskatchewan native will be a feature jewellery designer. (News Release, Lotus Leaf Communication, February 20, 2008 and Regina Leader-Post, February 21, 2008)) The City of Regina's executive committee unanimously approved a municipal services and compatibility agreement for the city to enter into with Cowessess First Nation. The same agreement is concurrently being recommended to the First Nation council for approval. The proposed area to be used for commercial development includes four lots in the 1200 block of Albert Street between 6th and 7th Avenues. (Regina Leader-Post, February 21, 2008) Big Dog 92.7 hit the airwaves on February 20th. The FM Radio Station is located at 4303 Albert Street. (Regina Leader-Post, February 21, 2008) Richardson Watrous Dunham Services Inc. will soon be moving into their new 1,200 sq. ft. office building along Highway 365. (The Watrous Manitou, February 11, 2008) White City Saskatoon RegionClavet Langham Rosthern Saskatoon Higher prices for drywall, concrete, and land development gave Saskatoon's new house market the distinction of being the inflation leader in the country at the end of 2007, says Statistics Canada. Saskatoon led the country with a new house in December costing 45.1% more than the same new house would have cost in December 2006. (Saskatoon Star Phoenix, February 12, 2008) The home-building industry held its annual Bridges Awards gala on February 9th. Award winners included Ehrenburg Homes, North Ridge Development Corp., and North Prairie Developments Ltd. (Saskatoon Star Phoenix, February 12, 2008) Two Saskatoon companies, West Wind Aviation Limited Partnership and Great Western Brewing Company Ltd., were named as two of Canada's 50 Best Managed Companies. The award honours excellence in Canadian-owned and managed companies with revenues of more than $10 million. According to the Best Managed program, the 2007 winners enjoyed the highest profit revenues since the award's creation in 1993, with combined sales of $8.5 billion and average sales growth of 31%. (Saskatoon Star Phoenix, February 13, 2008) The University of Saskatchewan is in line for almost $15 million in federal money to fast-track the development of life saving vaccines. The university's Vaccine and Infectious Disease Organization (VIDO) is taking the lead in setting up a new national non-profit research corporation called the Pan-Provincial Vaccine Enterprise (PREVENT) designed to bridge the gap that exists between the country's university laboratories and the commercial development of vaccines. (Saskatoon Star Phoenix, February 15, 2008) The Bessborough Hotel is officially under new ownership and is expected to have more than $1 million in upgrades done this year, said the head of the investment company that bought the historic property. The British Columbia Investment Corporation, a pension fund financing the retirement benefits of B.C. health-care workers, firefighters, and teachers, took ownership February 1st. (Saskatoon Star Phoenix, February 21, 2008) The Saskatchewan Teachers' Federation is hosting Showcase 2008, a conference featuring hundreds of professional development sessions for teachers and administrators. The massive gathering of educators takes place approximately every eight years and is being held in conjunction with the federation's 75th anniversary. Approximately 7,500 delegates will be in attendance. (Saskatoon Star Phoenix, February 21, 2008) Cameco Corporation has entered into a joint-venture agreement with Australian uranium mining company Paladin Energy Ltd. to explore for the mineral in Australia's Northern Territory. The Saskatoon-based company learned that Cameco and Paladin's exploration proposal was accepted by the country's government - beating out 34 other applications. The search for U308 will centre around two deposit sites. Both were once active mines which shut down in the 1970s due to the low price of uranium. The companies plan to spend a total of $4.65 million to $5.58 million during the next two years. (Saskatoon Star Phoenix, February 21, 2008) Within one year, the old A.L. Cole pumphouse could be one of the most prominent features of River Landing. Taking advantage of its vista of the South Saskatchewan River and prime location along the pedestrian path, the city wants to see the building transformed into a unique attraction with rooftop viewing platforms. Work will begin in spring with the clean-up and removal of hazardous materials, replacing the roof and installing guardrails, blasting clean the brickwork, installing windows, and connecting utilities for sewer, water, heat and electricity. The work is expected to be complete by fall 2008. (Saskatoon Star Phoenix, February 21, 2008) New Businesses: Once Upon a Child, Owners: Cory and Lorie Ann Henderson; Modern Koncrete, Owner: Jason Pacik; Reflexology by Jessica, Owner: Jessica Morelli; Something Blue: A Bridal Boutique, Owner: Rebecca Hunter; SGO Designer Glass, Owner: Janet Silzer. (Saskatoon Star Phoenix, February 9 & 16, 2008) Thode Wakaw Warman Whitecap Dakota First Nation Swift Current RegionEston Fox Valley Kindersley Downtown merchants are making headway in improving their profile among shoppers. Diane Kehrer, Association Chairperson of the Downtown Kindersley Association, came up with an idea a year ago to put color-coded maps in public areas for the purpose of informing visitors what downtown Kindersley has to offer. Having large maps in public areas will help visitors whether they're staying with family, participating in sports tournaments, or just passing through. (The Clarion, February 13, 2008) Warehouse One The Jean Store opened officially in Kindersley Mall on February 21st. The Clarion, February 13, 2008) Close's Family Foods, established here in August, 1999, won the business of the year K-Bex award, during the Kindersley Chamber of Commerce annual meeting. Edge Realty finished as the runner up. Spectacolor earned the honour for friendly and personable service in both photography and computer sales and service, including explaining cutting-edge technology involved. Scotia Bank won the award for community involvement. Arbour Ridge Inn and Suites won the award for property appearance, recognized for a third time due to the care taken with its appearance inside and out. (The Clarion, February 20, 2008) Rosetown A parcel northwest of Rosetown drew the highest bid for property in the Kindersley Kerrobert region during Saskatchewan's latest sale of oil and gas rights. Maverick Land Consultants spent $1.7 million for the lease parcel in the Dodsland Viking sand (oil) pool, 32 km from Rosetown. (The Clarion, February 20, 2008) Shaunavon Southwest It's the biggest month for land sales in our province's history. Among the big sellers was an exploration license for 2,900 hectares in the Shaunavon area. That sale alone generated $30.7 million. The Swift Current area was the second highest in sales bringing in $47 million. (http://www.swiftcurrentonline.com/, February 19, 2008) A cross-section of businesses across Southwest Saskatchewan has been selected to participate in a survey developed to identify challenges that small and large businesses may be facing. The focus of the survey is to assist the region in targeting some of the constraints to business growth, while at the same time to begin efforts to measure and benchmark the region's economy. (Gull Lake Advance, February 20, 2008) Swift Current Swift Current continues to grow with the expansion of existing businesses. Director of Business Development, Marty Salberg says City Council approved two applications for tax concessions for expanding businesses in the city. One of those businesses is The Brick and the other is building a new structure on the North Service Road West. (www.swiftcurrentonline.com, February 15, 2008) Swift Current will see as many as 400 new residents in the next couple of years. City Council has approved the subdivision of lots in what will be called the Saskatchewan Valley area. Trevor Feicht, Manager of Engineering and Planning Services, says they will be getting the lots ready for expansion in the northeast area, by the hospital. Feicht adds that this year the city will be doing some grading of the lots, in hopes that they will be ready for servicing in 2009. (www.swiftcurrentonline.com, February 20, 2008) Century 21 held a red carpet premier last Wednesday to celebrate the opening of their new location in the Plaza Shopping Centre. (The Southwest Booster, February 21, 2008) Good things come in small packages - and small towns - according to this year's Rural Women's Day Conference. Close to 90 people took part in the event, which was immediately popular when it was introduced six years ago, said organizer Keleah Herron. Herron, General Manager of Southwest Regional Economic Development Authority (REDA), said the conference usually has a business focus, but this year was more about engaging communities to make change. (Prairie Post, February 22, 2008) Yorkton RegionKipling Langbank Langenburg Jenny and Matthew Li, along with other family members, have purchased Langenburg's chinese restaurant. The Golden Bowl Restaurant will be open for business on March 1, 2008. (The Four-Town Journal, Langenburg/Churchbridge, February 20, 2008) Melville Micheal Halyk, South Parkland REDA General Manager, announced that Tyalta Industries, plan to expand their Alberta-based company to Melville this spring. They will offer a complete line of highly portable screening and crushing equipment, conveyors, and compost recycling equipment, and oilfield reclamation equipment. (The Melville Advance, February 13, 2008) A lack of interest from potential shareholders to invest in an ethanol plant near Melville has ground the Blue Sky BioEnergy, $40 million project, to a halt. Blue Sky directors initially hoped to raise $10 million in cash, however, was only able to collect $100,000. (The Melville Advance, February 20, 2008) Moosomin Saltcoats Yorkton Lyle and Brenda Walsh have sold their two radio stations, GX94 and Fox FM to Regina-based Harvard Broadcasting. The two stations will continue to employ 46 staff, including Lyle Walsh, who will remain the stations' General Manager. Completion of the acquisition is subject to the approval of the Canadian Radio Television and Telecommunications Commission, which could take three to six months. (Regina Leader-Post, February 12, 2008) Uptown Realty of Calgary has purchased a parcel of nearly 400 acres with plans to establish Yorkton Aviation Business Park. The land will have three areas, a commercial area adjacent to Highway 9, an area for light industrial near the railway track, and a country residential area along the river, with approximately 40 lots to be developed. Permits and land usage regulations are proceeding, with the initial work hoping to begin in spring. (Yorkton This Week, February 13, 2008) The Good Spirit REDA developed a Yorkton Business Survey in order to gauge the business situation in the community. The survey was contracted out, with the guideline being that a cross- section of business types were included. The results of the survey have now been released, indicating the businesses in the city are looking ahead at the possibility of growth in 2008. Forty-six per cent of those surveyed indicated their plans to either increase their workforce, or expand their company. (Yorkton This Week, February 13, 2008) The Canadian Curling Association has announced that Yorkton has been awarded the 2009 Canada Cup. The event will take place on March 18 - 22, 2009 at the Farrell Agencies Arena. The Canada Cup features 10 men's and 10 women's teams from across the country competing for a total purse of $150,000. (Regina Leader-Post, February 19, 2008) Yorkton hosted their annual Snowarama on February 16th with the 254 riders raising just under $100,000, but with some local snowmobile club donations, the amount will reach the $100,000 mark. (Yorkton This Week, February 20, 2008) SaskatchewanOn February 5th nine finalists from across Saskatchewan were announced in 2008's Venture Forward Business Plan Competition. Venture Forward, a business plan competition for young entrepreneurs is organized by Global Infobrokers Inc. of Saskatoon. The challenge sets up the winner with $25,000 (courtesy of Cameco Corp.) once his or her business is ready to open, and provides business mentorship for all finalists. The second place winner receives $15,000 (courtesy of PIC Investment Group), the third place winner receives $10,000 (courtesy of TRX RV) and the fourth place winner receives $5,000 (courtesy of Affinity Credit Union). Winners will be chosen on May 21st. (Saskatoon Star Phoenix, February 6, 2008) Premier Brad Wall announced that a two-day round-table conference in May will help form a new policy to ensure Saskatchewan First Nations and Métis people become true partners in Saskatchewan's economy and future. The new policy will protect the rights and interests of First Nations and Métis people and result in increased economic development opportunities that will benefit all Saskatchewan residents. (Eagle Feather News, February 2008) Small communities in Saskatchewan will learn about resources to attract and keep immigrants in their communities at the Newcomer Settlement in Smaller Centres: Gateway to Success conference taking place in Moose Jaw from February 12 - 14th. (Regina Leader-Post, February 12, 2008) Seven Saskatchewan First Nations have entered into agreements with a company owned by the Edmonton-based Ghermezian family for the development of oil, gas and uranium resources. Triple Five Energy, a division of the Ghermezian's Triple Five Worldwide Organization, plans significant exploration and development of what it calls Saskatchewan's largest uranium discovery located on the English River First Nation's (ERFN) territorial lands in northern Saskatchewan. (Saskatoon Star Phoenix, February 14, 2008) February's sale of oil and natural gas drilling rights in the province has broken the record for single-sale revenues, bringing in a whopping $197 million in bonus bids, more than double the previous record of $85 million set in 1994. The majority of the bonus bids were in the Weyburn-Estevan area, which attracted $132 million, or two-thirds, of the February land sale revenues. The Bakken play, a deeper, light oil formation in the Williston Basin, generated most of the bonus bids in the southeast, according to Saskatchewan Energy and Resources. (Saskatoon Star Phoenix, February 15, 2008) According to the latest economic forecast from BMO Financial Group, Saskatchewan will be Canada's economic growth leader in 2008, overtaking the traditional front runner, Alberta. The province is expected to see gross domestic product (GDP) growth of 3% this year. (Regina Leader-Post, February 16, 2008) Manufacturing and new vehicle sales are up in Saskatchewan. Statistics Canada reported that from November to December 2007, manufacturing sales in the province rose by 1.4% to $943 million from $931 million. In December, 4,077 new vehicles were sold in Saskatchewan, an increase of 6.6%. (Saskatoon Star Phoenix, February 19, 2008) Wholesale trade in Saskatchewan increased by 14.2% last year - the biggest increase among the provinces - largely due to the strength of the agriculture and construction sectors, according to numbers compiled by Statistics Canada. (Regina Leader-Post, February 20, 2008) |
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