Report from the Legislature October 4, 2018

Oct 4, 2018

Saskatchewan’s motto: Multis e gentibus vires: from many peoples, strength is as true today as it has been at any time in our province’s history.

Saskatchewan’s population continues to grow, reaching 1,162,062 people as of July 1, 2018, according to the latest figures from Statistics Canada. This is an increase of 3,226 people in the past quarter and 11,280 people in the past year.

Saskatchewan’s population has grown for more than 49 consecutive quarters with newcomers to Saskatchewan adding to the strength of our province through their contributions to our communities and our growing provincial economy.

The province’s growing technology sector will receive an additional boost through Innovation Saskatchewan’s new tax incentive program.

The Saskatchewan Technology Startup Incentive is a non-refundable 45 per cent tax credit for individual, corporate, or venture capital corporations investing in eligible startup businesses on a first-come-first-serve-basis.

This pilot program is designed to encourage investment in early-stage technology startups. Technology startups within the program will not only bring new products and services to market, but they will also create jobs within Saskatchewan.

The technology sector is flourishing here, and our government is committed to helping entrepreneurs and startup companies thrive. This is an excellent way to attract investment to this growing sector and Innovation Saskatchewan is excited to see the investor interest and economic growth that will be generated.

Applications to the program are now being accepted. Technology startups and interested investors can find program information and apply online at innovationsask.ca

The Government of Saskatchewan is also accepting applications for the Saskatchewan Value-Added Agriculture Incentive. Aimed at improving investment attraction and retention outcomes in the value-added agriculture sector, this incentive offers a non-refundable, non-transferable 15 per cent tax credit on capital costs for newly-constructed or expanded value-added agriculture facilities.

There is an increasing global demand for food, fertilizer and fuel, and Saskatchewan is well-positioned to be a global export leader in those sectors. This initiative supports rural growth, provides outlets for locally-produced crops, and creates more opportunities to attract entrepreneurial talent and foreign investment.

To learn more and apply, visit www.saskatchewan.ca

On a recent trade mission to China, a Saskatchewan delegation met with current and potential investors in our value-added agriculture sector to encourage investment and thank them for investments that have been made.

The trade mission included meetings with Chinese government entities that focused on identifying opportunities to advance mutual interests in sustainable mineral and agricultural development, and environmental protection.

A number of key steps were made in sharing Saskatchewan’s technical innovation, including supporting the signing of an MOU between the CCS Knowledge Centre and the China Petroleum University to advance our shared interest in using CCS for enhanced oil recovery.

Saskatchewan made important connections with government and industry leaders to communicate that we have the food, fuel, and fertilizer that China needs.