Working Together: Investment Attraction The first theme of ‘working together’ is investment attraction. The following outlines the Government of Saskatchewan’s goals for growth and how collaboration can play a key role in attracting the investment to reach those goals.
Investment Attraction Saskatchewan’s Growth Plan envisions significant economic growth over the next decade with a goal of increasing new private sector capital investment to $16 billion annually. Adding value to the products we produce and export around the world through new business and investment growth is one of a number of key focus areas. The Growth Plan for 2030 includes increasing the value of exports by 50%; growing the number of international markets for Saskatchewan exports; and increasing Saskatchewan agri-food exports to $20 billion. The benefit of business growth and investment contributes not only to a strong provincial economy but also to strong communities and the high quality of life for all Saskatchewan residents. To achieve these goals, Saskatchewan must be primed and ready for new investment opportunities. Opportunities are plentiful here and it is an exciting time in Saskatchewan. According to Paul Martin, Chair of Martin Charlton Communications, Saskatchewan is entering a “commodity super cycle” driven by the four Fs - food, fuel, fertilizer and forestry. The Crown sector plays an important role in creating a competitive business climate for industries to prosper. To provide comprehensive service and support to customers, an Investment Attraction Team with representation from Crown corporations and Ministry of Trade and Export Development was established in the spring of 2021. The team works as one team to share information, discuss and assess opportunities, and remove barriers for companies looking to invest and grow in the province. A streamlined response from government to potential investors built on a positive, collaborative working relationship will ultimately make Saskatchewan more competitive and a more attractive place to invest. To further enhance the effectiveness of the team, a number of additional ministries were added to the team in November of 2021, with an additional Officials Working Group established in 2022. The Investment Attraction Team and Officials Working Group now provide a comprehensive government resource for potential investors that provides direct access and comprehensive information for informed and efficient decision-making for all parties. This is exactly what investors have been asking for.
The Investment Attraction Team has contributed to the recently announced agriculture value-add projects in the Regina area, including Cargill, Viterra, Red Leaf and Federated Cooperative Ltd (FCL)/AGT. These, along with other recent announcements or intentions, would incrementally increase the canola crush capacity in Saskatchewan by more than 5 million metric tonnes.
Bo Hallborg, who works in merchandising for Viterra, spoke at the 2022 Canada’s Farm Show in Regina. He indicated that Canada could move from crushing half of our canola production to roughly 90 per cent. Saskatchewan currently processes approximately 40 - 45% of our canola crop and in 2020 produced 54.5% of Canadian canola production. This is a significant change and very exciting for the canola industry and producers in Saskatchewan. Combined, the companies the committee has been working with plan to invest in excess of $3.6 billion in Saskatchewan in the coming years and will create nearly 4,500 construction jobs and more than 500 permanent jobs in the Regina area. The economic spinoff to the region will be in excess of $5 billion. The Investment Attraction Team plays an important role in continuing to collaborate and involve government entities as needed to support projects, expedite decision- making, coordinate activities and communications, take advantage of opportunities and resolve customer issues and challenges.
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