Yorkton Investment Profile

INVESTMENT
P
R
O
F
I
L
E
MAYOR’S MESSAGE
Welcome to Yorkton, the third largest trading area in
Saskatchewan and a vibrant economic centre of the
east-central Saskatchewan region. Yorkton covers
a trading area of 1,400 square miles serving more
than 150,000 people.
Mayor Bob Maloney
37 Third Avenue North
Box 400
Yorkton, SK
S3N 2W3
[email protected]
2
tel 306.786.1700
fax 306.786.6880
www.yorkton.ca
Our growing and diversified economy provides
endless opportunities for new businesses and
investment. The recent investment of $400 million
in two canola crushing plants strengthens our agriresource based economy. The potential expansion
in the potash mining sector within this region
will contribute significantly to the growth of our
community.
We offer a good business climate for growth and
investment with moderate property taxes, incentives
for new and expanding businesses, competitive
lease rates and land prices. Our business
environment is as progressive as it is diverse, with
companies in manufacturing, agriculture & food
processing, construction, information and culture,
plus a wide range of retail services forming the
foundation of Yorkton’s economy.
A strong mixed demography, well educated and
skilled workforce, healthy employment rate, and
stable commercial, industrial and residential sectors
are factors supporting our community’s viability and
attractiveness for investment.
Yorkton’s excellent level of educational, healthcare
and leisure services, expanding housing sector,
competitive business environment, and readily
available amenities are just a few of the reasons why
Yorkton is one of the best places to live, visit, work,
and invest.
Yorkton was featured as one of Alberta Venture
Magazine’s Best Communities for Business in the
category of “Community on the Rise” for 2012. The
pace of economic growth in the past few years and
the excellent potential for future growth, particularly
in the resource sector, made it possible to receive
this distinction.
Our City Council, talented & professional staff
and the Committees of Council are dedicated to
fostering a strong infrastructure for sustainable
economic growth.
We invite you to build your dreams here, a
community of endless opportunities.
Mosaic Potash mine. Esterhazy, SK.
YORKTON
WHERE WE ARE IN SASKATCHEWAN
WHY INVEST IN SASKATCHEWAN?
•
•
•
•
•
•
•
SASKATOON
•
YORKTON
•
REGINA
•
YORKTON.ca
The number of people working in Saskatchewan increased by nearly 20,000 in the first nine months of 2013.
Unemployment in Saskatoon and Regina in February 2014 was the lowest in Canada. Saskatchewan
had the lowest seasonally adjusted unemployment rate (3.9%) of all of Canada in December 2013.
The Saskatchewan labour market continues to grow, hitting record levels for the month of February 2014.
There were 573,300 people employed in the province in May, up 12,400 from last year.
Average weekly earnings in the province were $953.92 in January of 2014, the third highest among the
provinces, according to Statistics Canada. Nationally, the average earnings were $924.77.
Saskatoon and Regina are forecast to continue strong economic growth in 2014, at 3.2% and 3.5%,
compared to Edmonton and Calgary at 3.4% and 3.7%.
The provincial government projected economic growth to be 3.6% in December 2013, an increase
of 1% from the 2013-2014 budget. A record crop, higher employment in the province, higher-thanprojected personal income, and higher corporate income, all indicate more business investment.
Saskatchewan residents will save an estimated $6.5 million in 2014 with the continued indexation of the
provincial income tax system.
One of the priorities of the provincial government’s Plan for Growth is to keep taxes competitive.
Indexing the income tax system helps Saskatchewan accomplish that priority. By the end of 2014, a
family of four with $50,000 income will have saved about $15,000 through various tax reductions by the
provincial government.
A family of four with $50,000 annual income has now seen their provincial income tax cut by more than
90 per cent since 2007 - from about $2,300 in income tax to less than $200 in income tax in 2014 - a
savings of more than $2,100 a year.
Individual taxpayers now pay no Saskatchewan income tax on their first $18,650 of income while a
family of four pays no Saskatchewan income tax on their first $48,320 of income - the highest tax-free
income threshold for a family of four in Canada
3
WHY INVEST IN YORKTON?
BUSINESS ACTIVITIES
The answer is simple: natural resources &
a cooperative business environment.
Yorkton has a diversified economic base with
more than 1,200 businesses employing over
9,000 workers. Manufacturing, agriculture & food
processing, construction, information & cultural
industries, professional, scientific & technical
services, retail trade, educational, healthcare, &
administrative sectors are the current strengths of
Yorkton’s economy.
Saskatchewan has 50% of the world’s potash,
while the next largest producer is Russia with 22%.
World grain consumption is expected to increase
dramatically to feed a global population anticipated
to be 9.3 billion by 2050. Yorkton is in the middle of
the largest and richest potash field in east-central
Saskatchewan.
Yorkton also offers financial incentives for industrial
and residential development:
• A ten per cent rebate of the power levy paid by
heavy industry;
• A five-year phase in of property taxes for
industrial development;
• A five-year 100% tax exemption to developers
for building multi-family rental units.
Yorkton’s development charges are competitive
with similar sized communities in Saskatchewan.
Residential
Commercial
or Industrial
($ / hectare)
($ / hectare)
WEYBURN
$271,715.00
$263,734.00
ESTEVAN
$232,279.00
$263,734.27
MARTENSVILLE
$103,740.00
$51,870.00
PRINCE ALBERT
$98,372.00
$98,372.00
YORKTON
$88,390.00
$170,319.00
SWIFT CURRENT
$45,000.00
$45,000.00
Community
Yorkton offers flexible payment options for
development charges.
Contact the Economic Development Office for
more information: (306) 786-1747
4
Yorkton is also a centre for food processing, with
two canola oil crushing plants plus oat, flax and
meat processing. These three industries alone have
over 500 employees.
ECONOMIC SECTORS
AGRICULTURE & FOOD PROCESSING
Yorkton is rich in agricultural resources and is
becoming a food processing centre for east-central
Saskatchewan. The two canola oil crushing plants,
oat & flax seed processing plants, and a meat
processing plant represent significant investment in
this area. Both canola oil crushing plants expanded
in 2013. Richardson International increased
processing capacity at its plant by 25 per cent, from
2,400 tonnes of canola per day to 3,000 tonnes
per day. This new expansion means the Yorkton
plant has the capacity to process over one million
tonnes of canola per year compared to its former
840,000 tonnes annual capacity. The Louis Dreyfus
Commodities’ (LDC) plant is also processing over
one million tonnes of canola annually. LDC invested
over $2 million in a rail car wash facility, rail scale
and material storage warehouse for its rolling stock
in 2013.
MANUFACTURING
Yorkton has over 20 manufacturing businesses.
Morris Industries, Leon’s Manufacturing Company,
and Ram Industries produce equipment in the
agriculture sector and are major exporters, along with
the food processing companies. Our manufacturers
export their products throughout Canada, the U.S.,
South Africa, Australia and some European countries.
Some of the major products include; agricultural
equipment, hydraulic and pneumatic cylinders, rocksolid material handling equipment including dozer
blades, front end loaders, and land scrapers.
SERVICES SECTOR
Over 1,000 Yorkton businesses not only support
the primary, food processing, manufacturing and
construction sectors, but also keep the community
viable. Yorkton has offices of all major financial
institutions, 11 hotels/motels with over 850 rooms,
numerous restaurants, retailers, wholesalers, and
trucking and warehousing companies. It is the
head office for the Sunrise Health Region which
provides health services to the entire east-central
Saskatchewan region.
Serviced Employment (Commercial /
Industrial) Land Inventory (acres)
YELLOW-HEAD SUBDIVISION
5.34 ACRES
ROUNDHOUSE SUBDIVISION
18.04 ACRES
GLADSTONE INDUSTRIAL PARK
10.37 ACRES
(2 LOTS)
(5 LOTS)
(4 LOTS)
MAJOR NON-RESIDENTIAL DEVELOPMENT
Harvard Developments Inc. constructed a twelve
acre commercial site in 2012 called York Station in
northeast Yorkton. This project developed 100,000
SF of retail space, three restaurants and a 74-suite
Days Inn hotel. The tenants in York Station include
Dollarama, Browns Socialhouse, Bulk Barn, Tutti
Fruitti, Taco Time, Pita Pit, SaskTel, Mr Mikes, A&W
and Days Inn. Future phases of York Station include
up to 61,065 SF of commercial floor space.
Two dealerships, Royal Honda and Royal Ford, are
located at the intersection of Smith Street East and
Dracup Avenue North. The investment in these
dealerships is over $12 million and both feature
state of the art body repair shops and show rooms.
Three new hotels add 257 rooms to the existing
600 hotel/motel room inventory. They include the
74-suite Days Inn, the 80-suite Home Inn & Suites
and the 103-suite Holiday Inn Express. Total
investment in these hotels is over $20 million.
The city completed the first phase of a 40-acre
commercial subdivision in 2014 by the Tourism
Centre on Hwy #9. Five highway commercial lots
were created as a result of the city’s $6.2 million
investment in this commercial subdivision.
Quance Developments Ltd. is working on a 50
acre highway-commercial development adjacent
to Hwy #10 east. This site is oriented to big-box
development and should be ready for tenants by
the end of 2014.
The city continues to plan for industrial expansion on its lands located adjacent to Grain Millers Drive. Engineering
studies were completed in 2013 and further work will be undertaken in 2014 on this area. Several private
developers are at their planning stages for the development of additional industrial lots in Yorkton.
YORKTON.ca
5
“YORKTON IS THE THIRD LARGEST TRADING AREA IN SASKATCHEWAN AND
THE VIBRANT ECONOMIC CENTRE OF EAST-CENTRAL SASKATCHEWAN”
YORKTON MAYOR – BOB MALONEY
YORKTON’S RETAIL MARKET
Yorkton is the regional economic hub of east-central
Saskatchewan. The trading area is the third largest
in the province serving more than 150,000 people
in Saskatchewan and west-central Manitoba. The
city has a strong role as a centre for the retail and
wholesale trade, health and government services,
and a variety of commercial services. One major
shopping mall, several strip malls, five retail box
stores (Wal-Mart, Canadian Tire, Superstore,
Staples, The Brick) and numerous independent
retail stores in Yorkton serve this region with retail
sales at $595m.
Historic & Projected Retail Sales
YEAR
RETAIL SALES
YEAR
RETAIL SALES
2002
$213,610,000
2012
$567,474,625
2006
$371,740,000
2014
$595,230,106
2009
$486,870,000
2017
$613,533,186
6
(PROJECTED)
(PROJECTED)
Estimated Retail Inventory: 690,000 SF
2013 Vacancy Rate: 5.47%
2014 Retail Sales: $595 Million
Average Lease Rate:
Retail & office lease rate in the East End of the city is $18-$20 / SF.
Downtown office & retail space is $9-$10 / SF
New Retailers (2013): Dollarama, Pita Pit, Bulk Barn, A&W, Tutti Frutti Frozen
Yogurt, Taco Time, Subway & Pet Value.
Businesses slated to open in 2014: Sport Chek, Atmosphere, Browns
Socialhouse.
Trading Area Population: 150,000+
BUILDING PERMITS
Construction Values by Sector (2008 - 2013)
Current residential, commercial and
industrial development translates into
building permit values not seen before in
Yorkton. Building permits have increased
dramatically in industrial, commercial
and residential sectors over the past five
years, from $7 million in 2006 to $74
million in 2012. More than $280 million
worth of building permits were issued
over the past five years.
SINGLE FAMILY RESIDENTIAL MULTI-FAMILY RESIDENTIAL
YORKTON.ca
TOTAL
2008
$12,662,150
$2,125,000
$24,594,968
$25,056,204
$64,438,322
2009
$11,544,460
$1,607,000
$29,726,550
$3,538,620
$46,416,630
2010
$7,211,075
$6,458,915
$6,673,500
$1,800,100
$22,143,590
2011
$8,991,103
$8,972,999
$11,318,715
$2,600,000
$31,882,817
2012
$12,508,415
$10,567,000
$49,415,535
$2,214,000
$74,704,950
2013
$13,989,630
$7,040,000
$17,835,881
$1,850,000
$40,715,511
TOTAL
$66,906,833
$36,770,914
$139,565,149
$37,058,924
$280,301,820
60
COMMERCIAL BUILDING PERMIT ACTIVITY ($ THOUSANDS)
30
50
25
40
20
30
15
20
10
10
5
0
INDUSTRIAL
COMMERCIAL / INSTITUTIONAL
2008
2009
2010
2011
2012 2013
0
INDUSTRIAL BUILDING PERMIT ACTIVITY ($ THOUSANDS)
2008
2009
2010
2011
7
2012 2013
Regional Labour Force (2013)
Labour Force (2013)
MALE
FEMALE
IN THE LABOUR FORCE
4,630
4,396
PARTICIPATION RATE
72.4%
60.7%
EMPLOYED
4,328
4,267
UNEMPLOYED
302
129
UNEMPLOYMENT RATE
6.5%
2.9%
NOT IN LABOUR FORCE
1,767
2,839
YORKTON’S LABOUR MARKET
IMMIGRATION
The city’s labour market area covers approximately
32,600 square kms (12,587 square miles), 5.1% of
Saskatchewan’s total area. A regional labour force of
41,500 is available within this area. This represents
about 6% of Saskatchewan’s total population.
Over 400 international immigrants have moved
to Yorkton over the past three years. Yorkton is
also experiencing an increase in migrants from
other Canadian provinces. The increase in the
number of international immigrants is diversifying
the demography and cultural base of the city.
Apart from being a resource for local and regional
businesses which are facing labour shortages,
the international immigrants have created an
opportunity for diversification in food businesses.
Recruitment and training of workers is a primary
goal of the community, with strong regional and
provincial recruitment strategies underway to
attract skilled labour from across Canada and the
United States. In addition, planned expansion of
the Regional Trades and Technology Centre and
curriculum at Parkland College will allow us to
meet the needs of new and existing specialized
jobs in the community and the region. We are also
recruiting professional, trained immigrants through
the Saskatchewan Immigrant Nominee Program,
and are working with First Nations groups to train
aboriginals to bridge labour market gaps.
62,900
POPULATION (15 & OLDER)
41,500
LABOUR FORCE
66.0%
PARTICIPATION RATE
39,700
EMPLOYED
1,800
UNEMPLOYED
4.3%
UNEMPLOYMENT RATE
8
COMPANY PROFILE
“Given Yorkton’s unique
location, which not only has
a local population of 20,000
but also over 150,000 people
from surrounding towns who
travel to shop in Yorkton...
we had no doubt in our mind
that LOVE East Indian Cuisine
would be successful.”
– Inder Sharma, Co-Owner
LOVE East Indian Cuisine is just one of many additions to the hospitality sector of Yorkton’s economy.
Residents of Yorkton and area now have more choices for ethnic foods, and may see some additional
ethnic food restaurants in Yorkton due to our diversifying population. BK’s Group Holding’s investment in
the existing 5,600 SF restaurant facility retained 10 jobs and will be adding five more jobs by Summer 2014.
“What matters most for any business to invest in any city are: the city’s current economic development and
growth plans; the past 5-7 years growth pattern and history; and the City’s proactive and pro business
policies. All these factors were there for us to make the easy decision to invest in the people and the City of
Yorkton. Glad we did.” – Bijendra Sharma, Co-Owner
YORKTON.ca
9
6/16/2014
Google Maps
Traffic, Terrain, Directions
YORKTON
WHERE WE ARE IN CANADA
YORKTON
WHERE WE ARE IN SASKATCHEWAN
SASKATOON
YORKTON
REGINA
Map data ©2014 Google
STRATEGIC LOCATION
Yorkton is located close to rich agricultural and
mineral resources, and whether you access us by
train, auto or plane, we have you covered! We have
a great network of highways and railways along with
our regional airport. All of these provide excellent
opportunities to move your product from Yorkton to
global destinations.
Yorkton’s strategic location on Hwy #16 between
Winnipeg and Saskatoon allows it to play a key role
in the distribution of goods and services either within
the western provinces or to the United States. Both
CN Rail and CP Rail have major transportation links
to Yorkton and service the canola crushing plants
and other industries in this region.
We are located within a trade corridor that connects
Mexico, the mid-western states with the Port of
Churchill in Manitoba and other areas of Western
Canada. Yorkton has actively participated in the
Ports-to-Plains Northern Working Group Strategic
Plan to enhance this trade corridor and the
numerous markets that exist within it.
10
https://www.google.ca/maps/@51.1866913,-102.9254163,7z
50 km
COMPANY PROFILE
“Certainly, apart from the proximity
to canola growth in one of the
most robust areas of production
in the country, strong road and
rail infrastructure to promote
movement to and from the facility
in Yorkton was one of the primary
reasons of our relocation.”
– Darryl Flunder, Manager Procurement
The $400m investment in two canola crushing plants (Louis Dreyfus Commodities and Richardson International)
in 2009 brought 150+ direct jobs to the community. Both plants have since expanded their operations.
In 2009, Louis Dreyfus Commodities (LDC) started its operation with an annual capacity of 850,000 metric
tonnes and brought in 75 new jobs. The plant is now crushing some one million metric tonnes (mt) of canola
annually (540,000 mt of meal and 420,000 mt of oil). Recently, LDC has invested over $2m in a rail car wash
plus storage bins to increase shipping & storage capacity. The rail car wash facility will be operational in 2014
with a washing capacity of 514 cars annually.
“A very accommodating relationship with the City of Yorkton to work through issues, various permitting and
other requirements. It was a pleasure to work with such a talented group of people.” – Brian Conn, Vice
President, Canadian Oil Seeds
YORKTON.ca
11
OUR COMPETITIVE POSITION
BUSINESS CLIMATE
Yorkton’s ability to attract new business investment is
important in achieving the City’s vision of “becoming
a growing, dynamic, regional centre, Where Good
Things Happen”. New and expanding businesses
are becoming stakeholders in our community,
providing job opportunities and generating tax
revenue, which contribute to Yorkton’s excellent
quality of life.
Yorkton has been featured as one of Alberta Venture
Magazine’s Best Communities for Business in the
category of “Community on the Rise” for 2012. The
pace of economic growth in the past few years and
the excellent potential for future growth, particularly
in the resource sector, made it possible to receive
this distinction.
Our location, business climate, and moderate
property taxes and land prices are some of the
competitive advantages Yorkton has to attract new
investment.
12
A strong mixed demography, well educated and
skilled workforce, healthy employment rate, and
stable commercial, industrial and residential sectors
are factors supporting our community’s viability and
attractiveness for investment.
A report by the Saskatchewan East Enterprise
Region indicated 67% of businesses in the resource
sector surveyed in this region plan to expand in the
next few years. In that same study, 60% of those
businesses indicated their sales are increasing while
over $3.8 billion is expected to be invested either in
expansion or renovations in these businesses in the
next few years.
COMPANY PROFILE
“After Red Deer, Yorkton is where
the economy is growing with the
faster pace. Yorkton is one of
the best places to do business
in Western Canada.”
– Terry Ortynsky, Dealer Principal
After 25 years in business, the rapid growth in Yorkton led Royal Auto Group to make an additional investment
of $12m in two new car dealerships, Royal Honda (new dealership) and Royal Ford (expansion). Both car
dealerships recently opened for business at the corner of Smith Street East and Dracup Avenue North. The
56,500 SF dealership facilities accounted for 85 direct jobs in the community.
“Yorkton is our home, but the strong economic growth, moderate property taxes and increase in consumer’s
demand for our products within our huge trading area were some of the reasons for expanding our business
in the city.” – Terry Ortynsky, Dealer Principal
YORKTON.ca
13
DID YOU KNOW...
•
Yorkton is home to North America’s longest running film festival? The Yorkton Film
Festival began in 1947.
•
Parkland College offers post secondary opportunities including both university and
technical skills programs? The college begins the first phase of a new trades and
technology training centre in 2014 with the first class expected in the fall of 2015.
•
Yorkton has flourishing arts and cultural opportunities for children and adults
alike? These range from coffee shop open mic nights to a presentation of the
Royal Winnipeg Ballet, participation in numerous festivals, organized concerts,
casual indoor and outdoor performances, classes and programs.
COME SEE WHY YORKTON HAS SO MUCH TO OFFER!
14
COMPANY PROFILE
“With the Yorkton economy
thriving and the community
being so tight knit, it was
the obvious choice when
it came to building the
perfect place to socialize.”
– Michael Truong, General Manager
“At Browns Socialhouse, we value ourselves as a neighbourhood organization and constantly seek ways to
connect with the community. Since 2004 Browns has grown to over 27 locations, expanding all over Canada
and to parts of the United States.”
We’re Yorkton’s neighbourhood Socialhouse, dedicated to the art of presenting exceptional cuisine in our own
stylish and unique setting. We like to think we simplify the dining experience, integrating fresh food and cheerful
service in a relaxed environment.
Our customers tell us that Browns makes them feel comfortable, relaxed and at home. This is no coincidence,
because it’s the foundation of the term “Socialhouse”. For us Browns is more than a restaurant, it is a place
to be welcomed, remembered and indulged, with a standard for service and food that will leave you feeling
exceptional and satisfied, every time. Restaurant. Bar. Socialize. Come on by, we’ve got something for everyone.
YORKTON.ca
15
FUTURE DEVELOPMENT AT THE YORKTON REGIONAL AIRPORT (YRA)
Freight transportation will be an important function
of the Yorkton Regional Airport over the next twentyfive years. With Yorkton expected to grow to 36,000
people by 2038, the airport’s strategic location will
allow it to serve as a distribution centre to remote
locations in Saskatchewan and Manitoba.
Situated within the Ports to Plains Corridor, our
strategic location allows us world-class global
logistics to international and domestic transportation
companies. Our geographic position will allow the
YRA to offer a cost-effective solution to any logistical
issue.
With connections, east, west, south and north, the
Yorkton Regional Airport will diversify its operations
over the next 25 years and provide services to
shippers looking for air freight service either within
or outside of Saskatchewan.
The YRA will become an economic driver to the
region through its business-park and linkages to
major transportation networks throughout Western
Canada and the United States.
Located two miles north of Yorkton, the YRA offers a
strategic intermodal transportation hub expected to
be expanded over the next 25 years. This hub will
offer easy access to the Canadian National Railway
links throughout Canada and the United States as
well as the Canadian Pacific Railway.
16
COMPANY PROFILE
“Yorkton’s strong economy,
huge trading area, and interest
from larger businesses to
expand operations in Yorkton
are some of the reasons for the
rapid growth of our business in
the last five years.”
– Jason Hrywkiw, Co-Owner
Family run, community minded, trusted since 1983
R.H. Electric Ltd was started in 1983 by Randy Hrywkiw and is now in its 30th year of business. Randy’s sons
Jason, Brock and Colin are continuing R.H. Electric’s reputation as being a trusted and professional service
provider committed to safety.
The company has experienced rapid growth over the past five years that has led to the creation of 24 new
jobs in the community. RH Electric operates from a 5,000 SF outlet and employs 30 skilled workers.
“Our business has experienced more growth in the last five years than all 30 previous years combined. We
are excited to be a part of all the new development that is happening here. I don’t think we would have been
able to experience this amount of growth anywhere but Yorkton.” – Randy Hrywkiw, Founder, R.H. Electric Ltd.
YORKTON.ca
17
MODERATE TAXES
Yorkton offers a great business environment
for growth and investment with moderate
property taxes, incentives for new and
expanding businesses, competitive lease
rates and land prices. Our business
environment is as progressive as it is
diverse with companies in manufacturing,
food processing, construction, information
and culture, plus a wide range of retail &
health services forming the foundation of
Yorkton’s economy.
City
Total Property Tax
Melville
Swift Current
Moose Jaw
Melfort
Yorkton
North Battleford
Humbolt
Meadow Lake
Weyburn
Estevan
Prince Albert
Regina
Saskatoon
Martensville
* Including School Property Tax
18
2013 Taxes on $100,000 Taxable
Assessment Commercial Property
2013 Taxes Based On Average Single Family
Residential Property Value In Each City*
$1,691.03
$1,700.17
$1,791.28
$1,906.55
$1,935.05
$1,939.92
$1,982,59
$2,134.79
$2,173.87
$2,399.84
$2,519.02
$2,735.61
$2,819.62
$2,846.47
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
City
Saskatoon
Weyburn
Regina
Swift Current
Estevan
Martensville
Moose Jaw
Melville
Humbolt
North Battleford
Meadow Lake
Yorkton
Melfort
Prince Albert
Total Property Tax
$1,712.05
$1,880.85
$2,068.64
$2,137.52
$2,251.90
$2,231.91
$2,348.04
$2,447.68
$2,553.00
$2,720.23
$2,898.58
$2,928.00
$2,932.64
$4,258.02
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
Future development at Parkland College in Yorkton.
INITIATIVES FOR 2014
A number of initiatives are planned in 2014 to make
Yorkton the best place to do business. These
initiatives include:
CREATING AN ECONOMIC DEVELOPMENT
PLAN
The 2014 – 2016 Strategic Economic Development
Plan for the City of Yorkton will outline the ways
through which the City will organize its available
resources to manage current and future economic
growth. The Yorkton Economic Development
Committee and the Economic Development
Department will set the economic priorities for the
next three years to pave way for new investment
and economic prosperity in the City. The Plan will be
finalized in June 2014.
REVAMPING THE ENTERPRISE ZONE
INCENTIVE PROGRAM
The Enterprise Zone Incentive Program (EZIP) was
introduced in 2005 to establish an Enterprise Zone
YORKTON.ca
LABOUR MARKET DEVELOPMENT
to provide development and property improvement
incentives. The City wanted to promote economic
growth and enhanced development opportunities
within the designated Enterprise Zone. The objective
was to revitalize and beautify the Enterprise Zone
by removing blight, expanding the tax base, and
increasing the economic vitality of the Downtown
and West Broadway Corridor.
Now, in consultation with the key stakeholders, the
City is working on preparing a city-wide incentive
program for:
a) Heritage Preservation
b) Brownfield Remediation
c) Business Creation and Expansion
Recent economic growth has led to a labour market
shortage in the Yorkton area. The city took the initiative
to participate in the National Job Fair & Training Expo in
Toronto, Ontario, on April 2nd & 3rd, 2014, to showcase
employment opportunities in this region. Apart from
working to attract employees at the national and
international level through the trade show and other
martketing initiatives, the City will also be working with
First Nations for the long-term solution to the labour
shortage in Yorkton and area. All key stakeholders
will be consulted to develop a long range labour
market strategy by the end of 2014.
The new program is intended to promote citywide development and improvement opportunities
through incentives for property owners, developers
and businesses.
Photos courtesy of: City of Yorkton and Peter Baran
19
Scan this QR Code to
view this document
on your mobile or
tablet device.
YORKTON.ca
37 Third Avenue North, Box 400
Yorkton, SK S3N 2W3
306.786.1700 fax 306.786.6880