Government of Canada Strengthens Foreign Direct Investment Opportunities in Saskatoon Region

SASKATOON, SASKATCHEWAN--(Marketwired - May 11, 2016) - Western Economic Diversification Canada

Today, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada, announced funding of $121,025 to help attract more foreign direct investment (FDI) opportunities to the Saskatoon region.

Saskatoon Regional Economic Development Authority (SREDA) will use the investment from Western Economic Diversification Canada (WD) to hire in-market consultants to organize six missions to the United States and China, as well as the regions in Asia and the United Kingdom. FDI will help new businesses and existing small- and medium-sized companies grow.

Quick Facts

• SREDA's international missions will focus on attracting investors and businesses in priority economic sectors such as manufacturing, mining and energy, and biotechnology.
• It is expected that, by the end of the project, SREDA will have attracted $25 million of FDI.

Quotes

"We are pleased to partner with organizations such as SREDA to develop programs to help Canadian businesses to increase trade and international partnerships, and grow their businesses, along with the Canadian economy."

• The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada

"This project will help increase international awareness of some key Saskatchewan economic sectors in priority markets. We are helping maintain and grow our businesses in the global marketplace."

• The Honourable Ralph Goodale, Minister of Public Safety and Emergency Preparedness

"This funding allows SREDA to strengthen our efforts around attracting global companies and investments into the Region. FDI is key to growing the local economy and creating new jobs, so we're pleased with the support of the Government of Canada to help showcase the Saskatoon region on the global stage"

• Alex Fallon, President and Chief Executive Officer, SREDA

Additional Links

• Saskatoon Regional Economic Development Authority

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