INVESTMENT ATTRACTION MISSION TO EUROPE HOLDS PROMISE

A successful week-long, three-country investment attraction mission to northern Europe has generated significant interest and considerable promise for future economic developments in Saskatchewan.

Enterprise and Innovation Minister Lyle Stewart met with leading government and business representatives in Ireland, Norway and Denmark during the trip which took place August 23-30. Overall, the mission consisted of 26 meetings and events in four cities over the course of five days, resulting in approximately seven potential investment prospects and another seven potential research partnerships and collaborations. Extensive follow-up is already underway based on these key initial meetings and introductions.

"Our mission generated discussion on a potential return of more than $200 million to Saskatchewan in future biotech investment, as well as building on a relationship with Yara International on its $1.6 billion takeover of SaskFerco," Stewart said. "This is what happens when we make the effort to meet face-to-face with people around the world, forge new relationships with them, and tell them about the people, businesses and opportunities that exist here and now in Saskatchewan."

The trip included accompanying a Saskatchewan delegation to Cork, Ireland for the Agricultural Biotechnology International Conference (ABIC) which will be held in Saskatoon in 2010. Other significant items on the agenda were very positive and productive meetings with ambassadors in Ireland and Denmark, and successful groundwork with respect to agriculture-related biotechnology, carbon sequestration research, fertilizer investment and alternative energy. Valuable exchanges of information and ideas also took place regarding the future development of Enterprise Saskatchewan and Innovation Saskatchewan, the province's new economic development agencies modelled after similar Irish organizations such as Enterprise Ireland and Forfás.

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For more information, contact:

Jamie Shanks
Enterprise and Innovation
Regina
Phone: 306-787-1691
Email: jamie.shanks@gov.sk.ca