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For Release
July 7, 2006
$150,000 Investment Made in Business Centre to Support up to 30 Local Businesses
The Saskatoon Urban Development Agreement (UDA) between the Government of Canada, the Government of Saskatchewan and the City of Saskatoon will invest $150,000 to assist with the pre-launch phase and the first year of operations of a business support centre in Saskatoon.
The Honourable Carol Skelton, Minister of National Revenue and Minister of Western Economic Diversification, the Honourable Harry Van Mulligen, Minister of Government Relations, and Saskatoon Mayor Donald Atchison announced the investment today. The facility will support new and growing enterprises under one roof, offering a wide range of programs, advisory services and shared equipment in a professional working environment. Up to 30 businesses can be accommodated at the facility.
“It’s important that entrepreneurs have access to a full range of business services,” said Minister Skelton. “Canada’s new government is committed to increasing long-term prosperity by increasing our productivity. Centres such as this one will help Saskatoon entrepreneurs build successful and productive business ventures.”
“The provincial government is committed to helping municipalities achieve and maintain a positive business climate and enhanced competitiveness,” Minister Van Mulligen said. “Business success provides employment opportunities, diversifies the local economy and enhances the quality of life for all residents.”
“The new facility will sustain the City’s reputation as the most business friendly municipality in the country,” Mayor Atchison said. “At the same time, the new economic activity will support our goal to revitalize our core neighbourhoods.”
The business support centre will be operated and administered by Saskatoon Ideas Inc., a registered membership non-profit corporation. The corporation is governed by a board of directors composed of business people from the Saskatoon community, as well as representatives from key business sector associations.
The five-year Saskatoon UDA will invest $10 million to revitalize the city’s older neighbourhoods, encourage participation in artistic, recreational and cultural activities, and promote a positive business environment. Funding will be available over a five-year period, with $5 million from the Government of Canada, delivered by Western Economic Diversification Canada; $2.5 million from the Province of Saskatchewan, delivered by Saskatchewan Government Relations; and $2.5 million from the City of Saskatoon.
For additional information, contact:
|
Heather Waldern-Hinds Fiona MacLeod | Gladys Wasylenchuk, Chris Dekker |
WD Toll-Free Number:
1 888 338-WEST (9378) |
Backgrounder
Business Support Centre (Saskatoon Ideas Inc.)
The mixed-use business support center will be located in the City of Saskatoon’s former Electrical Building at 414 Avenue B South, in River Landing Phase II. The facility will provide business incubation space, common business support and advisory services under one roof. It is expected to be completed this winter (2006).
The Saskatoon Urban Development Agreement (UDA) is providing one-time funding of $150,000 to go toward the facility’s operating costs, thereby improving its ability to become self-sustaining. Funds will be applied to pre-launch activities, first year operations, business development, tenant/client recruitment and marketing.
The facility will be operated and administered by Saskatoon Ideas Inc., a registered membership corporation incorporated under The Non Profit Corporation Act, 1995. Saskatoon Ideas Inc. is governed by a board of directors composed of Saskatoon business people with expertise in financial, manufacturing, accounting and law. Representatives from key business sector associations are also represented, including the Saskatoon Chamber of Commerce, North Saskatoon Business Association, Saskatoon Combined Business Groups, and Riversdale Business Improvement District.
The purpose of this project is to create economic and social development, particularly in the core neighbourhoods of Saskatoon, and provide an opportunity for various business development service organizations and associations to coordinate and provide priority services to new businesses.
Saskatoon Urban Development Agreement (UDA)
The goals of the Saskatoon UDA are to identify and address common priorities and build on policies, strategies, programs and delivery mechanisms currently provided by all three levels of government to achieve common social and economic objectives in the City of Saskatoon.
Funding of $10 million will be available over a five-year period: $5 million from the Government of Canada, delivered by Western Economic Diversification Canada; $2.5 million from the Province of Saskatchewan, delivered by Saskatchewan Government Relations; and $2.5 million from the City of Saskatoon.
A management committee administers and manages the Saskatoon UDA and reviews project proposals. Representatives from the governments of Canada and Saskatchewan and the City of Saskatoon serve on the committee. Eligible project recipients must be legal entities.