Saskatchewan Economic Fundamentals

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Land sales swell provincial coffers

REGINA -- Just a few weeks into the new fiscal year, the Saskatchewan Party government is already raking in more cash than it projected in the provincial budget.

The province`s record haul of $265 million from its oil and natural gas land sales in April -- the first of the 2008-09 budget year -- is $73.5 million more than the province budgeted for the entire year. It followed a record land sale in February, which bodes well for the five other such sales planned for this budget year.

http://www.canada.com/saskatoonstarphoenix...1a-67fd7cadf79c

 

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Council votes to curtail condo conversions

After more than five hours of discussion and heated debate, a majority of city council voted Monday night to change civic policy so the conversion of apartment buildings into condominiums will not be allowed while the city-wide vacancy rate remains below 1.5 per cent.

Coun. Myles Heidt, whose west-side ward is home to a large number of run-down apartment blocks, shook his head in disapproval after the vote was carried at council`s executive committee meeting. Heidt had argued in favour of continued conversions, referring to them as "the refurbishing of derelict housing."

http://www.canada.com/saskatoonstarphoenix...ba-e6d4f246209c

 

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Economic forecaster gives city second look

There are signs at construction projects all over Saskatoon that announce contractors are hiring right on site -- and the latest Statistics Canada figures on non-residential construction help explain why.

The agency reported Monday Saskatoon had the second-best quarterly improvement in the value of non-residential construction among Canadian cities, trailing only Hamilton.

http://www.canada.com/saskatoonstarphoenix...6e-7195166a8048

 

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Potash producers see record stock prices

Potash Corp. of Saskatchewan shares closed at a record $185.53 on the Toronto Stock Exchange Monday, continuing a run that has seen the company`s stock price increase steadily during the last two weeks.

Saskatoon-based PotashCorp rose $2.66, or 1.5 per cent, on Monday after reaching $188.02 earlier in the day.

The new high for PotashCorp, as well as records for Agrium Inc. and Mosaic Co., came after Russian producer OAO Uralkali said potash prices may surpass $1,000 a metric ton this year.

http://www.canada.com/saskatoonstarphoenix...54-1691bfa33a52

 

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Selling Regina in Edmonton

The City of Regina will be putting its best foot forward at a showcase in Edmonton on April 23.

The city is partnering with the business community to present the second "Think Regina" event in Alberta.

"Boy oh boy do we have job opportunities ... and now it is time for us to tell this story to Edmonton," said Mayor Pat Fiacco.

http://www.canada.com/reginaleaderpost/new...0b-b3c982b149be

 

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Regina to grow 3.5 per cent

Regina is expected to post economic growth of 3.5 per cent in 2008, according to the latest forecast from the Conference Board of Canada.

While the projected economic growth is less than the four per cent the city posted last year, it`s still very strong growth, said Larry Hiles, president and CEO of the Regina Region Economic Development Authority (RREDA).

http://www.canada.com/reginaleaderpost/new...46-4c62ea34b7fe

 

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Developer plans new four-storey building downtown

One of the gravel parking lots in downtown Saskatoon will soon disappear, with a new office building rising on the site of the former Extra Foods store on Third Avenue.

The 50,000-square-foot office building, to be built and owned by North Prairie Developments Ltd., will be the first new office space constructed in the downtown since 1993 when T&T Properties completed a six-storey building on Third Avenue North now occupied by the Canada Revenue Agency.

http://www.canada.com/saskatoonstarphoenix...94-76bff1158eb1

 

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River Landing project faces flood of rising costs

Soaring construction costs have changed benchmarks for the completion of River Landing.

According to Meewasin Valley Authority and the city, the inflation of costs since the planning for the river`s side development have caused them to re-evaluate the finishing dates on some of the construction, as well as the projected budgets.

http://www.canada.com/saskatoonstarphoenix...ed-ec4a101cd2bd

 

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Airport`s main runway to be repaired

Residents of Saskatoon`s Silverwood Heights, River Heights and Lawson Heights neighbourhoods will have a seasonal air traffic reprieve this summer while the airport`s main runway is repaired.

People living directly south of the airport, however, especially on Avenues C through G, can expect to see -- and hear -- more airplanes from May to September as flight traffic is diverted to the airport`s secondary runway.

http://www.canada.com/saskatoonstarphoenix...bc-38364de9220f

 

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Tax hike on hold

Regina City Council`s final decision on a property tax increase for residents has been put on hold pending possible funding from the provincial government.

At its special budget meeting on Tuesday evening, council heard from delegations regarding the budget and approved the operating, capital, and water and sewer utility budgets.

http://www.canada.com/reginaleaderpost/new...a6-4a4830adcb72

 

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City council chooses to continue its five-year plan

The City of Regina is continuing with a five-year program to equalize property taxes between single-family and multiple-family properties.

At Tuesday`s special budget meeting, city council did not accept an administration recommendation to discontinue the program -- designed to equalize mill rate factors -- in its third year. Mill rate factors are a tool used to redistribute the amount of taxes paid by each property class or subclass, but it does not affect the total amount of taxes collected annually by the city.

http://www.canada.com/reginaleaderpost/new...dc-f00991b332ae

 

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Residents lose school-closure fight

MAPLE CREEK -- Two schools in southwest Saskatchewan remain slated for closure in June after Chinook School Division board members did not rescind motions of closures.

Residents of Climax and Richmound felt they had a shot at keeping their schools open when board members representing them asked their counterparts to rescind earlier motions to close the two schools. However, on Monday their hopes were dashed when neither motion received a majority of support at the board`s monthly meeting.

http://www.canada.com/reginaleaderpost/new...ed-a78ae2c0561f

 

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Cities wait for more cash

With the provincial government dangling more money in front of municipal leaders, the finalization of civic budgets are being put on hold.

Premier Brad Wall surprised the legislature -- and municipal politicians -- on Tuesday when he said money from windfall Crown land sale revenues would likely be used to provide extra cash beyond the seven-per-cent increase in municipal revenue-sharing in the just-released provincial budget.

http://www.canada.com/reginaleaderpost/new...bc-c87e47a6f1ce

 

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Revitalization plan creates enthusiasm

Regina residents were wowed by the draft plan for a revitalized downtown that would be pedestrian friendly, green, culturally and socially vibrant and a place where people can live, work and play.

"It is unbelievably fantastic. It looks like there is money to be made. There is a city to be made civilized. It`s beautiful and if it doesn`t happen it would be a crime against the citizens of Regina,`` said Stephen Whitworth, who lives and works downtown.

http://www.canada.com/reginaleaderpost/new...38-8406ac3eff20

 

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Increase shown in shipment of Sask. manufactured goods

Saskatchewan manufacturers sold $953 million worth of goods in February, a gain of 0.8 per cent over the previous month, according to a Statistics Canada report released Wednesday.

Manufacturing sales in Saskatchewan were also up 9.4 per cent from February 2007, when $871 million worth of manufactured goods were sold.

http://www.canada.com/reginaleaderpost/new...d1-d91d3418aac3

 

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Business ideas helping health-care field

Although patients may be more complex than widgets, the Saskatoon Health Region is using efficiency tools championed by major manufacturers to run the medical lab at St. Paul`s Hospital more smoothly.

The Lean manufacturing approach, as embraced by automaker Toyota, is a philosophy of eliminating waste, such as waiting times, work that needs to be re-done, or the failure to use employees` time and talents to the full extent.

http://www.canada.com/saskatoonstarphoenix...4a-0460999cc54e

 

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Spectacular growth straining city: official

Rather than cut programs and services, city council`s budget committee chose to boost the City of Saskatoon`s operating revenues Wednesday night in an effort to reduce an ominous 8.3 per cent proposed property tax hike to 6.9 per cent.

If the provincial government carries through on its last-minute pledge to increase its revenue-sharing by a further seven per cent -- which equates to an estimated $1.2 million, the hike will be further reduced to about 5.7 per cent.

http://www.canada.com/saskatoonstarphoenix...cb-b53d31d71469

 

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P.A. council halts condo conversions

PRINCE ALBERT -- The City of Prince Albert has declared a moratorium on condo conversions pending a report.

On Monday, council heard an application for two apartment buildings to be converted into condominiums. The buildings in question are located at 633 and 655 28th St. West.

"A resident who cannot afford the condo, must move. But to where?" asked Dixie Larocque. She addressed council in opposition to the conversion as a resident of the building.

http://www.canada.com/saskatoonstarphoenix...4a-0c847cd46bd2

 

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U.K. eyes trade links with Saskatoon companies

People in Toronto may know Saskatchewan for wheat, potash and uranium, but the staff who gather business intelligence at the British Consulate-General in that city know this province has a lot more to offer.

A delegation led by Nicholas Armour, the consul general and director of U.K. trade and investment for Canada, was in Saskatoon Wednesday and Thursday where it met with knowledge-based companies at Innovation Place as well as the Saskatchewan Trade and Export Partnership and Mayor Don Atchison.

http://www.canada.com/saskatoonstarphoenix...5b-0573a0f146f3

 

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Chinese deal underlines tight potash market

TORONTO -- A staggering rise in potash contract pricing has highlighted the tightness of the market and reinforced the idea that fertilizer may be the most sustainable part of the commodity boom.

After delaying a decision for several months, China agreed to pay $576 US a tonne for potash this year from Canadian marketing company Canpotex Ltd. It represents a $400 increase over 2007 levels and sets the stage for what experts contend are even higher prices down the road.

http://www.canada.com/saskatoonstarphoenix...b4-1595caf03278