SREDA Recap - Spring 2016

1 SREDA INTRODUCES 2016

BOARD OF DIRECTORS

On April 21 at SREDA’s Annual General Meeting, the organization introduced its 2016 Board of Directors.

Wanda Hunchak will continue to serve as Board Chair of SREDA. Wanda is Vice-President of Westcap Mgt. Ltd. and has served on the SREDA Board of Directors since 2012. In addition, Jonathan Huntington will serve as Vice-Chair of the Board of Directors. Jonathan is the Manager of Communications and Community Investment at Cameco Corporation and has served on the SREDA Board of Directors since 2013.

Newly elected to the board is Kendal Netmaker, award winning entrepreneur and motivational speaker. Kendal is an Aboriginal entrepreneur who grew up in Sweetgrass First Nation, Saskatchewan. He is the founder of the popular clothing brand, Neechie Gear, a lifestyle apparel brand that empowers youth through sports. After completing two degrees from the University of Saskatchewan, Kendal grew the brand from a small one-bedroom apartment to two Neechie Gear stores in Saskatchewan, numerous retail outlets in North America and an online store. Kendal dedicates his time to growing his company and motivating young professionals across Canada and internationally.

“On behalf of SREDA, I am pleased to welcome Kendal Netmaker to the SREDA Board of Directors. We believe Kendal’s entrepreneurship expertise and strong community leadership will be a defi nite asset to the Board,” said Wanda Hunchak, Board Chair of SREDA.

Re-elected directors to serve a two-year term are: Wanda Hunchak, Westcap Mgt. Ltd.; and Dion Protzak, Saskatoon Metal Manufacturing. (continued on page 2)

2 LOCAL TECHNOLOGY COMPANY EXPANDS IN SASKATOONCreating 300 new jobs for the Saskatoon Region

The Saskatoon Region continues to be a place for businesses to thrive and expand. Josh Simair, President and CEO of SkipTheDishes, a local online food-ordering and delivery company, made an announcement that SkipTheDishes will be expanding its Saskatoon operations in 2016.

SREDA was pleased to play a role in assisting SkipTheDishes with their expansion plans in Saskatoon.

“SREDA congratulates SkipTheDishes on their planned expansion in Saskatoon,” said Alex Fallon, President and CEO of SREDA. “The Saskatoon Region is constantly growing, evolving and transforming. The SkipTheDishes

expansion is a great example of the many technology companies that are succeeding in the Saskatoon Region, and clearly demonstrates what we already knew – technology companies can succeed on the prairies.”

It is expected the expansion will create 300 new jobs for the

Saskatoon Region over the next three years and will have a huge economic impact on the local region.

“Supporting the expansion of businesses like SkipTheDishes is an example of how SREDA helps local companies grow, ultimately creating new jobs and helping to grow the Region’s economy,” said Fallon.

SREDA looks forward to SkipTheDishes, and other technology companies, continuing to grow in the Saskatoon Region.

For more information on SREDA’s business development incentives, visit: SREDA.com/why-saskatoon/business-incentives

(SREDA Introduces 2016 Board of Directors continued)

Existing directors serving the second of their two-year term are: Rod Delahey, The Marketing Den; Greg Fowler, University of Saskatchewan; Jonathan Huntington, Cameco Corporation; Rob Lamb, Canadian Light Source; Kelly Thompson, Federated Co-operatives Ltd. and Josh Walchuk, ICR Commercial Real Estate.

Offi cials appointed to the 2016 board are: Don Atchison, Mayor of Saskatoon; Troy Davies, Ward 4 City Councilor; Randy Donauer, Ward 5 City Councilor; Judy Harwood, Reeve, RM of Corman Park; and Sheryl Spence, Mayor of Warman.

“SREDA’s Board of Directors represent the local community, industry and region and bring signifi cant experience and expertise to our organization,” said Alex Fallon, President and CEO of SREDA. “We are fortunate to have them give their time, knowledge and leadership as we continue to help grow the local economy and create economic prosperity in the Saskatoon Region.”

To view SREDA’s 2015 Annual Report, visit: SREDA.com/about-sreda/annual-reports

3 Q1 ECONOMIC UPDATE RELEASEDLocal economy receives C grade

Q1 2016SASKATOON REGION ECONOMIC DASHBOARD

GROSS DOMESTIC PRODUCT

EMPLOYMENT

0.2% Change from Q4 2015

Alex Fallon, President & CEO, SREDA

“SREDA’s forecast for the Saskatoon Region’s economy

continues to be one of moderate and steady growth, with

GDP growth expected to be in the 1.5% to 2% range this year.

The results from the Saskatoon Region Economic Confidence

Index indicate that many business leaders share this

confidence in our economic outlook, particularly in regards

to the mid to long-term”

$17.2 BGROSS DOMESTIC PRODUCT

308,500CMA POPULATION


6.3%UNEMPLOYMENT RATE

“Saskatoon's ongoing population growth will continue to drive retail and wholesale sales in Saskatoon. This growth adds stability to Saskatoon's economy as other sectors adjust to a slower global growth story." - Kent Smith-Windsor, Executive Director


255,600WORKING AGE POPULATION


66%EMPLOYMENT RATE

-1.7% Change from Q4 2015

“Immigration to Saskatoon has made our labour force younger. Now the challenge is creating an economic climate for them to settle roots." - Dr. Joel Bruneau, Department of Economics

HOUSING

90.6MBUILDING PERMITS (YTD)

-53.4% Change from Q1 2015-36.8% Change from Q1 2015

366HOUSING STARTS (YTD)

$344,408AVERAGE HOME PRICE


961EXISTING HOME SALES (YTD)


“The housing market remains optimistic as existing inventory is being absorbed by the spring home buyers as well as a

decline in new product being introduced to the market. Prices remain fairly stable and with a great selection coupled

with low interest rates, it is an ideal time for first time buyers to enter the market or move up buyers to upgrade.” -

Jason Yochim, Chief Executive Officer

“CFOR THE SASKATOON REGION

“SREDA’S ECONOMIC RATING

180,067LABOUR FORCE


70.4%PARTICIPATION RATE


On May 2, 2016, SREDA released its Q1 2016 Economic Update Report and Dashboard for the Saskatoon Region. The report rates the status of the local economy with a C grade, down from the B- rating in Q4 2015.

“Although the economic rating for this quarter is down from the previous quarter, we continue to anticipate moderate to steady growth throughout the remainder of the year. SREDA forecasts GDP growth to be in the 1.5% to 2% range this year,” said Alex Fallon, President and CEO of SREDA.

The report summarizes key economic indicators, along with sector analysis and input from local business groups and industry experts.

“Saskatoon’s ongoing population growth will continue to drive retail and wholesale sales in Saskatoon. This growth adds stability to Saskatoon’s economy as other sectors adjust to a slower global growth story,” said Kent Smith-Windsor, Executive Director of the Greater Saskatoon Chamber of Commerce.

“The start of quarter two brings about an uptick of seasonal activity. Agriculture’s perennial optimism is at its highest point, while other sectors are more cautiously optimistic. Economic growth, though still positive, will likely not be as robust as we’ve seen,” said Keith Moen, Executive Director of the North Saskatoon Business Association.

“Thanks to the diversifi cation and competitiveness of communities like Saskatoon, our province is arguably less aff ected by the overall economic slowdown than elsewhere. What sets Saskatchewan apart from many other jurisdictions is that we have business and investment opportunities globally recognized as being among the world’s best. The result is that we are already prepared for when markets recover,” said Honourable Bill Boyd, Minister of the Economy.

Along with the report, SREDA released the results of the Saskatoon Region Economic Confi dence Index Survey. Participants of the survey provided information on their perception of the current and future state of the local economy. Of the survey participants, 75 percent indicated they expect steady or signifi cant growth for the Saskatoon Region.

“The results from the Saskatoon Region Economic Confi dence Index Survey indicate that local business leaders have a similar perspective to our economic outlook, particularly in regards to the mid to long-term,” said Fallon.

To view the full Q1 Economic Update, visit: SREDA.com/economic-overview/economic-indicators

5 SREDA VISITS UK ON TRADE AND INVESTMENT MISSIONStrengthening ties with Canada’s third largest export destination

On February 28, SREDA travelled to the UK on a Trade and Investment Mission. The purpose of this mission was to create a stronger partnership between the UK and Saskatchewan and to further cooperation on the province’s key sectors including mining, energy and agriculture.

During the week-long mission, Alex Fallon, President and CEO of SREDA and Anna Tavares, Business Attraction Specialist visited fi ve cities – London, Exeter, Penryn, Barnsley and Doncaster – and met with local businesses, industry associations, science parks and others interested in learning about opportunities in the Saskatoon Region.

“Saskatchewan has strong economic ties with the UK. A number of UK based companies have successfully started businesses in Saskatchewan, including BHP Billiton, Allan Auld and Rio Tinto,” said Fallon.

While in the UK, SREDA also promoted its Mining Technology EXPLORE Program, an initiative that targets international companies with technologies that are applicable to the mining industry. SREDA met with Petrolab/iMin, a company that analyzes the content of rocks, minerals, ores, aggregates and concrete from all over the world. Petrolab/iMin applied for the EXPLORE program and in the end were chosen as one of the four EXPLORE winners. They travelled to Saskatoon, met with various local businesses and attended the Saskatchewan Mining Chain Forum.

Another goal of the Trade and Investment Mission was to market the

4 WHAT’S NEXT?: ADJUSTING TO STEADY GROWTHBusiness leaders give outlook for the local economy

On April 26, local business leaders converged at the 2016 Saskatoon Region Economic Outlook Forum hosted by SREDA and supported by the Greater Saskatoon Chamber of Commerce.

The forum provided information to assist the local business community in understanding the current economic trends aff ecting key sectors in Saskatchewan.

Four local industry leaders provided their outlook on the economy: Ken Seitz, President and CEO, Canpotex Limited; Murad Al-Katib, President and CEO, AGT Food and Ingredients Inc.; Tim Gabruch, Vice-President Marketing, Cameco Corporation; and Mark Cooper, President and CEO, Saskatchewan Construction Association.

“This year’s forum had a powerful line-up of local industry leaders that provided attendees with an outlook on the future of the Regional economy,” said Alex Fallon, President and CEO of SREDA. “The speakers addressed the opportunities and challenges created by the recent changes in the global economy and how it impacts Saskatchewan.”

The forum featured topics and discussion around the theme ‘What’s Next?: Adjusting to Steady Growth.’ Speakers presented their outlook for key sectors and commodities that drive the Region’s economy and impact the local supply chain. Attendees learned how key sectors are adjusting to the current economic conditions and maintaining long-term strategies for growth.

To view SREDA’s list of upcoming events, visit: SREDA.com/events

6INTERNATIONAL TECHNOLOGY COMPANIES

VISIT SASKATOON

Exploring partnership opportunities with the local mining industry

Earlier this year, SREDA launched a new business attraction program called the Mining Technology Explore Program (EXPLORE).

Through this program SREDA provided support to selected international companies with technologies applicable to the local mining industry.

“EXPLORE was developed to connect international technology solutions to the Saskatchewan mining industry. The response to the program was tremendous with 23 companies from seven countries applying,” said Alex Fallon, President and CEO of SREDA. “This program is one example of how SREDA globally promotes the Saskatoon Region to support business attraction and investment to the region.”

This year four companies were selected for the EXPLORE program: IVD Mining (Chile), Petrolab/iMin (United Kingdom/Australia), Winspect (Austria) and FREDsense Technologies (Alberta). These companies were in Saskatoon April 12-13 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 the winners of SREDA’s EXPLORE program. We enjoyed making connections in Saskatoon, learning

more about the Saskatchewan mining industry and seeking out potential partnership opportunities,” said Fernando Muniz-Simas, Founder of IVD Mining.

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

“The selection committee was extremely impressed by the quality and scope of this year’s EXPLORE applicants. SREDA’s EXPLORE program gives access to innovative technologies that may not currently be available to the Saskatchewan mining industry. This program is a wonderful opportunity to globally showcase Saskatoon, local mining industries and the winning applicants,” said Joni Brisbin, Director of the Centre for Minerals Innovation at Saskatchewan Polytechnic.

SREDA plans to continue this type of program in the future and develop similar initiatives for other key sectors of the Saskatoon Region economy.“The goal of these programs is to bring companies with innovative technologies to the Saskatoon Region that add value to local industries,” said Wanda Hunchak, Board Chair of SREDA.

For more information on SREDA’s business attraction programs, visit: SREDA.com/why-saskatoon/business-attraction-programs

Saskatoon Region. To do this, SREDA thought out-of-the box and decided to bring some Saskatoon Berry jam and try to convince one of the most well known restaurants in the UK to try the product.

“We brought a big jar of Saskatoon Berry jam and doled out samples to the Chefs at Gordon Ramsay’s Union Street Cafe in London, “ said Fallon.

“Immediately after the fi rst taste, Chef Davide Degiovanni said he’d never tasted anything like the Saskatoon Berry before, and initially he couldn’t say for sure if they could include the jam on the menu. A couple of more samples and a Chef’s meeting later, the berry jam made the cut.”

7 FINALISTS ANNOUNCED FOR THE NEWCOMER

ENTREPRENEUR OF THE YEAR AWARDS

Earlier this year, SREDA launched a brand new event called the Newcomer Entrepreneur of the Year Awards (NEYA).

This event showcases small business owners who have journeyed through immigrating to Canada and have successfully launched and grown their business in the Saskatoon Region.

The fi nalists and award recipients will be honoured at the fi rst annual NEYA Gala on June 6 at TCU Place in Saskatoon.

“Through our Square One program, we have seen an increase in the amount of newcomer entrepreneurs in the Saskatoon Region. These entrepreneurs endure numerous obstacles when starting a business, and we are proud to off er awards that highlight these eff orts,” said Alex Fallon, President and CEO of SREDA.

“The newcomer entrepreneurs that are being honoured at the NEYA Gala have demonstrated the drive and determination it takes to be a successful business owner, in addition to overcoming challenges that often come with being a newcomer. They represent a diverse group of individuals from across the globe with businesses in a variety of sectors – from property development to retail, from technology to hospitality. This evening is an opportunity for

the community to come together to celebrate these entrepreneurs and their impact on the local economy.”

The evening will start at 5:30 p.m. with a cocktail reception featuring tapas-style ethnic food stations, followed by cultural performances and the award presentations at 6:15 p.m. Special guests addressing the importance of newcomer entrepreneurs in the Saskatoon Region include Her Honour the Honourable Vaughn Solomon Schofi eld, Lieutenant Governor of Saskatchewan and His Worship Don Atchison, Mayor of Saskatoon. Tickets for the NEYA Gala are available for $50 and can be purchased at TCUtickets.ca, by phone at 306-975-7799 or in person at TCU Place.

NEYA Gala tickets can be purchased online at: TCUtickets.ca. by phone 306-975-7799 or in person at TCU Place.

Start-UpEntrepreneurs operating a business for less than 3 years.

Colors of IndiaSneha Chakraborty

Dara Children’s StoreWeidong Miao

Hishow Audio Inc.Feifang Wang

Scully Custom CarpentryMartin Scully

Underground TrendsNoy Phonsavath

GrowthEntrepreneurs that demonstrate business growth.

Baydo Development Corp.Yufeng Wang

BiktrixRoshan Thomas

Complete TechnologiesAndrey Olinov

M & A HomesMichael Ma

U39Entrepreneurs between 18-39 years old.

Tina’s Professional TailoringRobel Firay

Odd CoupleAndy Yuen

Zhang Bros. Development Corp.Minjie Zhang

ConnectEntrepreneurs operating a business for over 5 years.

First Impressions Hair DesignsWajid and Maysoon Toma

Manila Cleaning ServicesFlorentino and Myrna Aranda

2016 NEYA FINALISTS

8 SASKATOON REGIONAL MUNICIPALITIES CLEAN ENERGY

AND ECONOMIC DEVELOPMENT FORUM 2016

On May 10, regional municipalities, First Nations and City representatives gathered at the Saskatoon Region Municipalities Clean Energy and Economic Development Forum.

The full-day forum was hosted by SREDA with support from CIMA+ and the City of Saskatoon. The forum provided insight into how these groups can utilize clean energy initiatives in their own backyard.

“With the Saskatchewan Government’s renewable energy targets, there is a signifi cant and pressing window for Saskatoon Region companies to consider the business opportunities that will arise from the need for clean energy. At the same time, regional municipalities need to consider how they can support the integration of clean energy projects into their Region,” said Alex Fallon, President and CEO of SREDA.

Topics and discussion were centered around how to incorporate clean energy projects in Saskatoon Region municipalities. Presentations from various industry groups included SaskPower, the First Nations Power Authority, CIMA+, Town of Okotoks, Saskatoon Solar Co-op and more.

To view SREDA’s list of upcoming events, visit: SREDA.com/events

9SASKATOON RANKED SECOND IN COST COMPETITIVE

CITIES FOR BUSINESSESKPMG’s 2016 Competitive Alternatives Report

The Saskatoon Region has been ranked second among Midwest US/Canada West cities for business cost competiveness according to KPMG’s 2016 Competitive Alternatives Report.

The regional comparison includes four cities from Western Canada and 23 cities from the US Midwest. According to KPMG, Saskatoon’s index is 85.9 which means the cost of doing business in Saskatoon is 14.1 percent lower than the US and signifi cantly lower than the 23 Midwest US cities.

“The Saskatoon Region is a front-

runner when it comes to places with advantageous business environments,” said Alex Fallon, President and CEO of SREDA. “KPMG’s latest Competitive Alternatives Report confi rms that the Saskatoon Region continues to be a fi rst-rate location to launch, expand and succeed in business.”

The KPMG report measures international business costs based on the combined impact of 26 key cost items in eight categories: labour, facility, transportation, utility, capital, income taxes, taxes other than income and incentives. The report compares four major sector operations: Digital

Service, Research & Development Services, Corporate Services and Manufacturing.

Nationally, Canada maintains the second place rank among 10 other countries, with business costs 14.6 percent below the US. When compared to 2014, Canada gained a competitive advantage over the US due to the signifi cant strengthening of the US dollar.

To view the full KPMG 2016 Competitive Alternatives Report, visit: competitivealternatives.com/highlights/default.aspx

10 SREDA UNVEILS REDESIGNED WEBSITEImproved design enhances user experience

On May 9, SREDA launched a redesign of their website SREDA.com. Along with a more contemporary design, changes have been made to enhance the navigation so users fi nd the information they need faster.

Highlights of the new website include a homepage feature showcasing SREDA’s six pillars, an improved

‘News’ section with social sharing capability and a Partner/Member section recognizing their contribution to SREDA.

The most signifi cant changes are the addition of a ‘Regional Statistics’ section with data on each member municipality and an ‘Economic Overview’ section featuring recent statistics and reports on the local economy.

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 or call (306) 664-0720.

Documents

SREDA Recap - Spring 2016