Minister Vandal announces investments in business growth, innovation and workforce training in Saskatchewan Français
Over $7.6 million through PrairiesCan to support economic development initiatives in Saskatchewan
SASKATOON, SK, May 25, 2023 /CNW/ - Saskatchewan has a strong, growing economy with global leadership in agriculture and food processing, digital innovation, advanced manufacturing, and resource development. With its abundance of natural resources, vibrant research and innovation ecosystems, and top-notch education and training institutions, Saskatchewan has ample opportunities to continue that economic growth in a way that leaves no one behind.
Today, the Honourable Dan Vandal, Minister for PrairiesCan, announced a federal investment of over $7,600,000 to help five Saskatchewan businesses access the resources needed to scale-up and bring innovative products and services to new markets. As well, this funding will support the training of highly skilled workers through the Saskatchewan Indian Institute of Technology's Aircraft Maintenance Engineering Preparation Program and Indigenous Practical Nursing Program.
These investments will help ensure that Saskatchewan businesses thrive as strong contributors to the Prairie economy, and that the province achieves its potential with a highly skilled and trained workforce.
"Saskatchewan is a great place to grow your business with so many new opportunities in food and ingredient processing, technology and advanced manufacturing. Adding to the strengths of the province's natural resources and agricultural sectors, they are helping to diversify the economy and ensure a prosperous, sustainable future for Saskatchewan workers. Our government is continuing to work with industry leaders and educational institutions to ensure that businesses here have the support they need to succeed, and the skilled workers to get them there."
–The Honourable Dan Vandal, Minister for PrairiesCan
"SIIT continues to expand and innovate to meet the needs of Saskatchewan's growing Indigenous communities and provincial economy. These strategic investments contribute to the labour demand solutions desperately needed in the Healthcare and Aerospace sectors while driving economic reconciliation."
–Riel Bellegarde, President and CEO, Saskatchewan Indian Institute of Technologies
"We are thrilled to have been selected for the BSP program, as Saskatoon has an impressive talent pool of skilled people, and this will allow us to continue to invest in this vibrant city."
–Jack Laninga, Executive Vice President of Superior Cabinets
"Algarithm was created 6 years ago with the mission to make plant based omega3s easy, enjoyable and ecofriendly for everyone! The PrairiesCan Business Scale Up Program (BSP) funding announced today will enable Algarithm to accelerate that mission, acquiring key capital assets and hiring important new team members that allow us to expand our reach into key new category and geographical markets."
–Ben Kelly, President, Algarithm Ingredients Inc.
- Since 2012, Saskatchewan's annual revenue from value-added agriculture has almost doubled from $3.5 billion to an estimated $6.8 billion in 2020-21.
- More than 300 food processing and beverage companies in Saskatchewan produce a wide range of cereal, meat, dairy and bakery products, as well as food ingredients.
- PrairiesCan has invested over $209M in 292 digital tech projects since 2018, targeted at growing the sector across the Prairies, including $23M in 36 digital tech projects in Saskatchewan.
- Saskatchewan companies design and produce world-class advanced manufacturing solutions. The sector is a key employer of graduates from universities and technical schools.
- A young, fast-growing Indigenous population offers Saskatchewan employers a competitive advantage when attracting and retaining skilled workers and when pursuing partnerships for sustainable, inclusive growth.
These investments in the Saskatchewan economy support business growth and innovation in advanced manufacturing, food ingredient processing and digital industries and specialized training in the aerospace and healthcare sectors.
Business Scale-up and Productivity (BSP) – Investment of $5,918,635
Through the BSP program, the Government of Canada supports high-growth businesses seeking to improve productivity, scale-up and commercialize technology. BSP offers interest-free, repayable funding to incorporated high-growth businesses that have been operating in the Prairie provinces for a minimum of two years. Four Saskatchewan BSP recipients receiving funding through PrairiesCan were announced today:
- Superior Millwork Ltd. ($3,640,000)
Install new technologies at a second production facility in Saskatoon, which will result in additional manufacturing capacity and allow Superior to increase their market share in Canada and pursue new markets.
- Algarithm Ingredients Inc. ($1,298,635)
Purchase equipment and improve business systems to expand into the infant formula market. Algarithm uses their proprietary processes to produce plant-based, ocean-friendly Omega-3 ingredients derived from micro-algae.
- Cadence Final Document Services Ltd. ($580,000)
Increase market reach by hiring sales and customer experience staff to focus on customer relationship-building and onboarding new customers — primarily funeral homes, hospices and financial institutions. Cadence is a digital service company that uses an online platform and team of Certified Executor Advisors to provide personalized guidance in the estate management process.
- SalonScale Technology Inc. ($400,000)
Expand staff complement to grow digital marketing initiatives and sales of salon software. SalonScale's proprietary platform technology provides hair salons supply management solutions to mitigate the effects of rising inflation and enhance profitability.
Aerospace Regional Recovery Initiative (ARRI) – Investment of $1,000,000
Through the ARRI, the Government of Canada supports small and medium-sized enterprises (SMEs) in the Canadian aerospace sector to green their operations and adopt environmentally sustainable practices; improve their productivity; and strengthen commercialization while furthering integration into regional and global supply chains. The ARRI has a $250 million national budget over three years. It is open to SMEs and not-for-profit organizations providing services to SMEs, including municipalities, post-secondary institutions, provinces and Indigenous organizations. One Saskatchewan ARRI recipient receiving funding through PrairiesCan was announced today:
- Saskatchewan Indian Institute of Technologies (SIIT) ($1,000,000)
Support the development and delivery of an Aircraft Maintenance Engineering (AME) Preparation Program to remove barriers and create pathways toward licensing for Indigenous people and women entering the aerospace industry. SIIT will also renovate classrooms at the Saskatoon Aviation Learning Centre to accommodate an increase in the number of seats in the current AME-M (mechanical) program and build capacity to introduce an AME-E (avionics) program in Saskatchewan.
Community Economic Development and Diversification (CEDD) – Investment of $371,000
The CEDD program supports economic development initiatives that contribute to the economic growth and diversification of communities across the Prairie provinces. Through this program, PrairiesCan enables communities to leverage their capacity and strengths to respond to economic development opportunities and adjust to changing and challenging economic circumstances. Today, PrairiesCan announced the following CEDD-funded project.
- Saskatchewan Indian Institute of Technologies (SIIT) ($371,000)
Build a mobile lab for the Indigenous Practical Nursing Program which will allow SIIT to deliver the program to rural and remote Saskatchewan First Nations.
Jobs and Growth Fund (JGF) – Investment of $322,160
JGF provides funding to businesses and organizations to help create jobs and position local economies for long-term growth. The Fund, delivered by Canada's regional development agencies, provides $700 million nationally over three years. Today, one JGF project funded through PrairiesCan was announced:
- Rivercity Innovations Ltd. ($322,160)
Expand markets and improve cold-chain monitoring system for food safety and compliance. Rivercity Innovations, a developer of cold-chain monitoring technologies, provides clients with hardware and software solutions. The company's technology automates grocery cooler monitoring, reduces staff time required to collect data, reduces food spoilage and automates compliance.
- Prairies Economic Development Canada
- Business Scale-up and Productivity (BSP) in the Prairie provinces
- Aerospace Regional Recovery Initiative (ARRI) in the Prairie provinces
- Community Economic Development and Diversification (CEDD) in the Prairie provinces
- Jobs and Growth Fund (JGF) in the Prairie provinces
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SOURCE Prairies Economic Development Canada
Kyle Allen, Press Secretary and Communications Advisor, Office of the Minister of Northern Affairs and Minister responsible for PrairiesCan and CanNor, [email protected]; Craig Henry, Communications Manager, Prairies Economic Development Canada, [email protected]
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