Saskatoon economy sees growth in 2004 and expects trend to continue in 2005.

The Saskatoon Regional Economic Development Authority (SREDA) Inc. is celebrating the growth of the Saskatoon region over the past year. In 2004, local industrial companies invested over $18.5 million into their businesses and 19 expansion projects were completed. The SREDA Industry Development program also completed more than 250 local business visits in 2004 and identified a total of 27 industry expansion projects.

In the area of investment attraction, it has been an exceptional year with a record number of companies visiting Saskatoon. SREDA assisted in successfully attracting GC Teleservices from Houston, Texas, and Prairie Pride Natural Foods Ltd., who will locate their head office in Saskatoon. Both Prairie Pride and GC Teleservices combined will create 750 new jobs in the Saskatoon region.

SREDA has also participated in four successful investment attraction missions in 2004, updated all international marketing materials and has created a new world-class Web site. This has been an encouraging end to SREDA's current five-year plan. A new three-year strategic plan is underway, with finalization expected in March 2005. Saskatoon is expected to be among the five fastest-growing economies in 2005 and SREDA looks forward to the trend continuing.