FINAL REPORT ON ECONOMIC STRATEGY RELEASED

The final report on Saskatchewan's economic development strategy has just been issued, and shows four years of solid progress on meeting most of the strategy's targets.

Industry and Resources Minister Eric Cline today released Partnership for Prosperity: Final Progress Report. The document summarizes activity around the targets of Partnership for Prosperity, the province's 2001 strategy for building the economy through increased diversification, a more competitive business climate, and a greater emphasis on innovation and technology.

"Partnership for Prosperity has proven to be a solid plan for our economic future," Cline said. "During its life, we saw our economy rebound after two tough years in 2001 and 2002, and we are well positioned for future success as a result of the targets we set.

"This report fulfils our ongoing commitment to accountability and reporting progress under the strategy. We are now moving forward and bringing in a new plan – one that builds on the successes of this strategy and what we heard at the recent Centennial Summit."

Cline said three of the strategy's targets were exceeded: reduction in personal income taxes, increase in personal disposable income, and increase in Internet connectivity.

The target on positive attitudes is close to being achieved, and one for increased Aboriginal employment is on track. Significant progress was recorded in targets for competitiveness, research and development, and highways infrastructure.

Among the targets where progress was not as strong as projected were sales of agri-value products, due to a weaker American economy, and five-year job creation, due primarily to a loss of agricultural jobs, especially in 2001. Cline noted that the province has set employment records for the past two years, and has seen an increase of more than 27,000 non-agriculture jobs over the past five years.

"Our economy is showing great momentum, with one of the strongest GDP growth rates in the country last year, record capital investment forecast for this year, strong oil and gas well drilling, and mineral exploration that's unprecedented in our history," Cline said. "Leading forecasters are predicting Saskatchewan will be one of the nation's growth leaders in 2005, all of which augurs well for the province in its second century of opportunity."

Cline said the new action plan on the economy will be unveiled in the fall. It will take into account the views and ideas of many business, industry and community organizations and leaders, including participants in the Summit.

Partnership for Prosperity: Final Progress Report is available online at www.saskprosperity.sk.ca. Limited printed copies are available through Industry and Resources' Marketing Branch at (306) 787-4765.

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For More Information, Contact:

Bob Ellis Industry and Resources Regina Phone: (306) 787-1691