To understand the benefits and risks to the economy, over 40 opportunities for business development in Agri-Value, Mining, Green Energy and Tourism were sorted by high, medium and low probabilities of success. This table shows the opportunities in order by year of in-service.
Regional growth, as facilitated by a concerted economic development program to implement some or all of the recommended projects, is shown here in three development scenarios.
The economic model chart below shows:
- The low growth scenario sees $38M (15%) of the decommissioning and closure loss recouped by 2060
- The medium growth scenario sees a higher bounce back of $88M from 2029 or 35% of the initial loss. This scenario includes all aspects of the low-growth scenario as well as the delivery of enhanced speciality agriculture initiatives
- In the best growth scenario, regional GDP advances by $143M from 2029, recovering 57% of the initial loss. This scenario includes all aspects of low-growth and medium-growth projections and shows an economic “bump” in 2030 that includes the Power Plant decommission estimate, seed plant, pulse plant and processing for humic substances
Project Roadmap by Sector
By establishing a regional vision, South Saskatchewan Ready eliminates competition among member communities because the social and economic value of all of the projects combined outweighs any individual projects.
As the saying goes, a rising tide (or, in this case, a vertical greenhouse) lifts all boats!
Bringing It All Together
Are You Ready?
Achieving a dream this big may be daunting. The study does not select projects, write business cases or secure funding. As leaders, we all have a part to play. Local officials, regional economic development experts, local development offices, regional administrators and local entrepreneurs with the drive and dedication to deliver on these projects.
While the projects have been ranked according to economic impact, it is important that a regional effort establish the correct mix of projects and next steps. A cohesive regional plan is needed, not just tasks and schedules for individual projects.
The South Saskatchewan Ready region is well positioned to grow using well-defined economic development planning processes. An iterative and ongoing effort is required to bring together the three significant components for project success: People, Schedule and Investment.