Started in 1992, the Saskatoon Regional Economic Development Authority (SREDA) Inc. was one of the first independent economic development agencies to be started in Canada. Today, it is one of the most successful. SREDA works with the City of Saskatoon, the Province of Saskatchewan, the surrounding communities and more than 200 private sector investors to build and grow the region’s economy.
Economic growth in the Saskatoon region is at its full potential through SREDA’s dedication to superior economic development.
SREDA has three main goals:
- To retain, and expand local business in targeted sectors.
- To attract new investment in focus areas.
- To ensure the Saskatoon Region is the place to live, work, invest and prosper.
Saskatchewan is a commodity-rich province and this is no exception when it comes to mining. Saskatchewan is the world’s largest producer of potash with global leaders such as PotashCorp, Mosaic and BHP Billiton undertaking significant mine developments and expansions totalling billions of dollars. Our province is blessed with other natural resources, including the world’s largest kimberlite diamond field; Canada’s richest Greenstone belt with a wealth of base, rare earth, and precious metals.
Extensive oil, gas and alternative energy sources are amply found in Saskatchewan. With the assistance and research of groups like the Canadian Light Source, the National Research Council and Saskatchewan Research Council new technologies are being applied.
Newly discovered coal deposits and extensive oil and gas reserves, as well as applications in alternative energies, are paving the way to future success.
The Saskatoon Region is the centre for agricultural biotechnology with the majority of firms clustered around the University of Saskatchewan and Innovation Place Clustering occurs here due to the proximity to highly skilled researchers and world class research facilities such as the Canadian Light Source Synchrotron, NRC-PBI, Saskatchewan Research Council, POS Pilot Plant and the Vaccine and Infectious Diseases Organization (VIDO) to name a few. In addition to biotechnology, the Western College of Veterinary Medicine is one of the leading veterinary facilities in Canada. Research and development capabilities of the Saskatoon Region, coupled with the competitive advantages of Saskatoon versus other North American cities, make Saskatoon an ideal location for a biotechnology or life sciences firm.
The Saskatoon Region contains a host of manufacturing firms that possess strong industry capabilities in fabrication, machining, electronics and instrumentation, and innovation. Our manufacturing firms supply specialized goods and services to key sectors in Canada and around the world. Food, Chemical, Fabricated Metal and Machinery Manufacturing have been the long-standing pillars of the manufacturing industry in the Saskatoon Region. They remain so due to the continued research, development and innovation that our firms employ to create new products, create better efficiencies and improve productivity. Our manufacturing firms are highly adaptable problem solvers who are able to customize their manufactured goods to meet industry needs.
The Saskatoon Region is known internationally as one of Canada’s “Hub Cities”. From its central location, the Saskatoon Region has excellent highway, air, and rail transportation links to markets throughout North America. Our transportation and logistics firms are highly skilled and innovative when it comes to moving goods in any type of conditions. Our region is uniquely positioned as a central location in North America, featuring two intermodal facilities, excellent infrastructure, competitive business costs and a strong presence of skilled transportation firms. The John G. Diefenbaker International Airport connects Saskatoon to all major centres in North America, including direct flights to major gateway cities such as Denver and Chicago.
SREDA uses a focussed approach to maximize its overall effectiveness in the Saskatoon Region. We focus on high impact initiatives that contribute to long-term economic growth. SREDA is focused on building the sectors above and also works in the following complimentary additional sectors, including:
- Accommodation and Hospitality
- Retail Trade
- Real Estate Development
- Professional, Scientific and Technical Services