Saskatchewan Economic Fundamentals

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Sale of oil upgrader contributes to profits

Saskatchewan`s Crown corporation sector posted a profit of $696 million in 2007, an increase of $255 million from the previous year due largely to the sale of the province`s share in a Regina heavy oil upgrader.

Crown Investments Corporation, the holding company for the province`s commercial Crown corporations, paid a $200-million dividend to the province`s general revenue fund in 2007 based on its earnings, according to the CIC annual report tabled Wednesday. A further $365-million special dividend -- made possible by the sale of the NewGrade upgrader -- will go to provincial coffers this year, also based on the 2007 results.

http://www.canada.com/reginaleaderpost/new...a7-67283ec1daa9

 

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Grass fire threatens Riverside homeowners

Wednesday`s rain clouds notwithstanding, conditions around Saskatoon are ripe for spring wildfires.

That much was obvious on Tuesday, when firefighters found themselves battling two grass fires at opposite ends of the city.

Country living turned scary for homeowners in Riverside Estates, about 10 kilometres south of Saskatoon, when a resident working in her yard accidentally ignited dry grass and brush within Pony Trail Road.

http://www.canada.com/saskatoonstarphoenix...e3-1420d4ee44a9

 

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Police warn public of television scam

Saskatoon police are warning people of a scam involving the sale of plasma televisions.

http://www.canada.com/saskatoonstarphoenix...00-3841923d731a

 

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House price jump similar throughout city: survey

There`s no doubt house prices have been on the rise in Saskatoon during the past year, and a new report shows just how much the increases have been in individual city neighbourhoods.

According to a 2008 Spring National House Price Survey conducted by Century 21, the price for a typical split-level home in Avalon rose by 49 per cent to $379,000 from last spring. Prices for spit-level homes in Arbor Creek rose by 37 per cent to $409,900 and by 37 per cent to $350,000 in Silverwood Heights during the same time period, the report shows.

http://www.canada.com/saskatoonstarphoenix...1d-e1f1988e2eb3

 

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Labour shortage impacting non-profits

Regina businesses aren`t alone in their frustration with the current labour shortage.

Charitable organizations like the Saskatchewan Institute on Community Living (SICL) and the Canadian Diabetes Association are struggling with a shortage of truck drivers in the city.

"I would say in the last two or three years our capacity to hire and keep drivers has been significantly impacted by the labour shortage in Saskatchewan," said Faith Bodnar, executive director of the SICL.

http://www.canada.com/reginaleaderpost/new...65-c82b4141c9f5

 

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Sask. people earning more

The median yearly earnings for Saskatchewan workers employed on a full-time basis in 2005 was 6.4 per cent more than it was five years earlier, according to a Statistics Canada analysis of 2006 Census data released on Thursday.

The annual earnings rose from $33,785 to $35,948 in 2005. For working families the median earnings rose by 6.5 per cent from $56,340 to $59,998.

http://www.canada.com/reginaleaderpost/new...3a-199a47c60864

 

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McMorris to push for more infrastructure

SASKATOON -- Health Minister Don McMorris says he`ll push hard in the coming years for the government to dedicate hundreds of millions of dollars to tackle more than a billion dollars of repairs and upgrades needed at Saskatchewan health facilities.

"I will be lobbying hard, knowing and touring as much as I have in the first five months of my ministry," McMorris said Thursday.

http://www.canada.com/reginaleaderpost/new...3d-d16358c2034a

 

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Regina must plan ahead for traffic grid

The first thing I thought of as the car came to a slow stop, and then a long wait, was, "Have we arrived in the future already? Is this the gridlock that we will be confronted with on a daily basis when those tens of thousands of Calgarians come home to the promised land?"

Traffic on Arcola was not flowing. It wasn`t doing anything, except waiting for the vehicles in front to start moving so the dozens stuck behind them could get going home.

http://www.canada.com/reginaleaderpost/new...3e-505b679fd93a

 

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Increase in freight rates has farmers fuming

Farm leaders are unhappy about proposed increases in grain transportation rates and demanding a review of those increases.

Terry Boehm, a Saskatchewan grain farmer and vice-president of the National Farmers` Union, is among a group of representatives of several major farm organizations that have joined forces in issuing a news release expressing concerns about the situation.

http://www.canada.com/reginaleaderpost/new...8e-f7f7b0ea3195

 

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High oil prices here to stay: FirstEnergy Capital

CALGARY -- Hundred-dollar oil is here to stay -- at least for the next year or two, a leading commodities analyst said Thursday.

"We`ve been somewhat reluctant to jump on the bandwagon of $100 oil, so far," FirstEnergy Capital analyst Martin King said.

"Can crude oil prices go higher? Simply put: Yes."

http://www.canada.com/reginaleaderpost/new...a6-8f6cac107e49

 

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Saskatoon alluring in Ontario

Psychologists need not e-mail me with their explanations or interpretations, but whenever I dream about the workplace or a specific neighbourhood, the dream is never set in Saskatoon, but in my hometown of Portage la Prairie. Whenever I wanted to torture my kids, I used to tell them we were going to sell out in Saskatoon and move back to Portage. As an economic move, it wouldn`t be a bad idea if a person was about to retire. According to the latest MoneySense magazine survey of cities ranked on a livability scale, Portage has the fourth most affordable housing in Canada with an average price around $99,000. Of course, affordable housing isn`t everything.

http://www.canada.com/saskatoonstarphoenix...e2df145&p=1

 

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Old hospital demolition underway

Eleven years after closing, the Holy Family Hospital is being dismantled.

"It just started yesterday," president of Riverside Retirement Gail Mazurak said on Thursday. "I was surprised how much was done in one day.

"We`re glad to see it finally on track."

Silverado Demolition and Excavating, based in Saskatoon, has been contracted to dismantle the building. Manager Al Sarich anticipated demolition efforts will conclude in three or four months and the site will then be ready for reconstruction.

http://www.paherald.sk.ca/index.cfm?sid=131478&sc=4

 

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Census says income remained flat in area

Information from the 2006 Statistics Canada census revealed incomes of Prince Albert residents have stayed more or less the same since the census in 2001.

The information was released Thursday. Information in each census is based on income levels from the year prior.

The census found family incomes in Prince Albert had increased to a median of $55,924 in 2005 from $55,660 in 2000 - an increase of 0.5 per cent.

http://www.paherald.sk.ca/index.cfm?sid=131476&sc=4

 

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U of S spending to boost enrolment

SASKATOON -- The University of Saskatchewan is taking steps to try and prevent an unusual deficit -- of students.

The institution`s $336-million operating budget, approved by the board of governors Friday, includes a 10-per-cent increase ($500,000) for its student recruitment and retention efforts.

http://www.canada.com/reginaleaderpost/new...b8-35a9568bfdb6

 

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Permits still build up

More signs of a construction boom in Regina are evident in the latest building permit report from the city that shows activity is ahead of last year`s record-breaking pace.

The report, for the month of April, indicates 245 permits for construction valued at $19.2 million were issued, which was up from April of 2007 when 133 permits for construction valued at $14.7 million were issued.

http://www.canada.com/reginaleaderpost/new...b7-2c9a0b6ca8d5

 

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Investors provide millions to grow Avrio Ventures

Avrio Ventures, which was established by the venture capital division of Farm Credit Canada, is expanding with help from two new major investors.

Rick Hoffman, vice-president of finance and venture capital with Farm Credit Canada (FCC), said the new investment in Avrio Ventures should help address "a critical need for venture capital in the agriculture, life sciences area.``

http://www.canada.com/reginaleaderpost/new...c3-966193f04b8c

 

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In the neighbourhood of $200K

The tiny bungalow in Confederation Park is an extreme fixer-upper.

Worn-out siding and eavestroughs. Wallpaper older than the new owners. Shag carpet in every bedroom. The yard, the fence, the basement all need an overhaul.

"Pretty much just a dumpy little house, but it can be brought back," said Mikaila Segi, who bought the house last week with her fiance.

http://www.canada.com/saskatoonstarphoenix...e1-284147136666

 

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Province ponders tax change

REGINA -- The Saskatchewan Party government may consider raising the amount of tax-free income in the future after leaving it untouched in its first budget, said Finance Minister Rod Gantefoer this week.

Raising the basic personal exemption -- which sits at $8,778 -- used to be a major plank of the Sask. Party Opposition as a way to provide significant help to low-income people.

http://www.canada.com/saskatoonstarphoenix...64-b100928bcb75

 

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West economy hot, East not

OTTAWA -- Canada`s East-West economic divide has widened, presenting challenges for the industrial heartland and for national policy-makers, while the divide within the West itself is starting to narrow, enhancing the economic and political outlook for the entire region, according to separate analyses of the country`s rapidly changing economic landscape.

The duality of Canada`s economy, with a booming resource sector centered in Western Canada and a sluggish manufacturing sector in Central Canada, is a reflection of the global economy, said Stephen Poloz, chief economist Export Development Canada, the federal trade promotion agency.

http://www.canada.com/saskatoonstarphoenix...0a-9a2dada99966

 

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City encounters problems with owners of downtown properties

Moose Jaw`s Multiplex Steering Committee learned Thursday that property acquisition could be a significant roadblock to locating the proposed facility downtown.
The report presented to the committee shows that Century 21 Conexus Realty hired by the city were only able to acquire signed options to purchase six of the 14 private properties within the boundaries of the proposed downtown site.

http://www.mjtimes.sk.ca/index.cfm?sid=131491&sc=3