REGINA RESEARCH PARK BOOSTS PROVINCE'S ECONOMY

The tenants of the Regina Research Park (RRP), one of Saskatchewan's two research parks, contributed $152 million to the economy of Regina and $194 million to the provincial economy in 2002. This was an increase of over $53 million from 2001, according to an independent study by Insightrix, part of the Innovation Consulting Group, a Saskatoon-based research firm.

The Regina Research Park was also directly responsible for approximately 830 positions in the park, and another 1100 jobs in Regina and the province are indirectly attributable to the RRP.

"The Regina Research Park is a great example of how Saskatchewan can compete with the world, particularly in the advanced technology sector," Minister Responsible for Saskatchewan Opportunities Corporation (SOCO) Eric Cline said. "We all benefit from the jobs created and the money added to our economy."

The purchase of goods and services, number of employees, and staff salaries were some of the measures used by the researchers from Insightrix to determine the economic impact of the park's activities, based upon a model developed at the University of Saskatchewan.

"The Regina Research Park has seen significant growth in the past year and this study confirms that the tenants' impact is growing," President and Chief Executive Officer of SOCO Doug Tastad said. "In addition, over half of the tenants said they plan to expand in the near future, which shows tremendous confidence in the future of Regina's and Saskatchewan's technology based economy."

The Regina Research Park has developed knowledge clusters in fields such as information technology, environmental science and petroleum technology. The Park provides specialized infrastructure, including state-of-the-art facilities and support services, to help move important discoveries from the lab into the marketplace.

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For More Information, Contact:

Austin Beggs Innovation Place Saskatoon Phone: (306)933-7464

Ken Loeppky Regina Research Park Regina Phone: (306)787-5706