Regional Economic Development

Regional economic development is a continuing process in which employment and income are increased in an area of the province. A variety of core functions and services are required to support development: co-ordination; organizational development and planning; education and training; information; research and development; promotion and marketing; and local project and initiative management assistance. Regional Economic Development Authorities (REDA) provide some or all of these necessary functions. They were created as part of the NDP government's “Partnership for Renewal” economic strategy in 1992. They have since become the prevalent government-sponsored regional organization, with 28 REDAs located throughout Saskatchewan. The mandate of a REDA is to improve a region's economic growth and diversification through co-operation and collaboration with its residents. This grassroots process encourages residents and communities to organize, plan, and achieve sustainable economic development by creating wealth and employment and by attracting new investment. A key component of regional economic development is to target sectors with the greatest potential for growth, and then to develop a long-term strategic plan. Typically, development takes between five to seven years to occur.

Holden Stoffel

Further Reading

Phillips, P.W.B. 1998. “Whither Saskatchewan? A Look at Economic Policies 1975-2000,” Canadian Business Economics 6: 36-49; Stabler, J.C. and M.R. Olfert. 2002. Saskatchewan's Communities in the 21st Century: From Places to Regions. Regina: Canadian Plains Research Center.