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December 2010 Prairie Economic Fundamentals

Ally

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Fraser Institute ranks Saskatchewan as the second best province to invest in

OTTAWA — Alberta has the friendliest investment climate among Canadian provinces, while Ontario continues to struggle, according to a report released Thursday from the Fraser Institute.

The report lauded Alberta for its low taxes on companies and people, careful spending at the provincial-government level and lack of red tape.

"With Canada`s lowest corporate and personal income taxes, most flexible labour market, smallest government and relatively low level of red tape, Alberta continues to offer an investment climate that is the most attractive nationwide," said Charles Lammam, senior policy analyst with the Fraser Institute.

Ontario, however, was criticized for having high corporate taxes and a lack of fiscal prudence in its provincial government. After being given the top ranking in this survey in the early part of the last decade, it now stands at fifth.

Filling in the spots between Alberta and Ontario were Saskatchewan in second place, British Columbia third and New Brunswick fourth.

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Ally

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Winnipeg Waterfront Apartments planned

The first new apartment project for the Waterfront Drive area could begin to take shape as early as next summer.

A pair of local developers -- businessman James Buhler and Mark Penner, president of Green Seed Development Corp. -- wants to build a $5-million to $6-million, 35-to-40-unit apartment complex on two neighbouring pieces of land behind Green Seed`s You Cube condominium development, located on Waterfront between Heaton and Macdonald Avenues.

The developers have struck a deal to buy the two properties, but the sale is contingent on the city agreeing to let them close off a back lane that separates them. They also want to close the section of Macdonald between Waterfront and the Disraeli Freeway because they plan to have their development fronting onto Waterfront.

A hearing is scheduled for today before the city`s standing policy committee on downtown development. If the committee grants the requests, the matter would then go to the executive policy committee and city council for consideration.

Buhler, a senior executive with Wallace & Wallace Fences Ltd., said if the lane and street closings are approved, the deal to buy the two pieces of land will close on March 31.

But it`ll likely be mid- to late-summer before construction can get underway, he said, with the goal of having the complex ready for occupancy in spring 2012. It will be at least three storeys high, he said.

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Ally

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Minister says no per head payment to help flooded Saskatchewan cattle producers

REGINA - The Saskatchewan government will not make per head payments to help cattle producers cope with the impact of devastating floods.

Agriculture Minister Bob Bjornerud (BEHN`-rod) says the province has already put up money by offering producers financial aid to transport feed or to reseed land damaged by excess moisture.

Bjornerud says he doesn`t know what kind of help the federal government may have for producers.

He says he doesn`t think it`s too much to ask for federal Agriculture Minister Gerry Ritz to help ranchers, especially those in northeast Saskatchewan.

A year of record rainfall left many pens or fields waterlogged and many producers struggled to feed their cattle.

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Moose Jaw vacancy rates up, still low





Take a quick glance at the numbers and it looks like Moose Jaw is making progress. But try telling that to people looking for a decent, affordable place to rent.





The vacancy rate, according to the Canada Mortgage and Housing Corporation, is 1.4 per cent. That's low, but it's up from 0.8 per cent last year and 0.6 per cent the year before.





Don Mitchell, Vice-Chair of Moose Jaw's Housing Advisory Committee, insists the situation won't improve if developers continue to serve the high-end market.





"There's a serious squeeze for people at lower income levels because there's such a shortage that even badly managed apartments can extract a fairly high rental."





For what it's worth, the average rent in our city is up over 14 per cent. But, on average, it's still lower than Regina, Saskatoon, Prince Albert, Lloydminster and Estevan.





There is pressure on government and developers to fill the gap, but things like fires, demolition and condo-conversions are eliminating the few affordable units that exist.





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Ally

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Clear skies ahead for Manitoba




After lagging behind the national growth rate in 2010, the Manitoba economy is expected to fare better against the Canadian average in 2011.




Early forecasts say manufacturing exports are going to pick up across the country and they should do the same here as well. Richard van den Broek, president of Dynamic Machine Corp., says he thinks that's the case, which is why he just bought a precision tool and die company to add to his company's arsenal.




The sleeping giants at Great-West Life and IGM Financial will benefit from a more stabilized financial marketplace, but European minefields will rein in the raging bulls to some extent.




With the end of the recession a full year behind us now, a new Jory Capital/Winnipeg Free Press poll of 1,001 Manitobans conducted by Probe Research shows a nice spike in the number of Manitobans who believe they will be better off next year. At 38 per cent, it's a full 10 per cent more than was the case in December 2008. Here's to wishful thinking.



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