Regina, SK – An economic impact study on the value of Saskatchewan’s research parks shows that Innovation Place in Saskatoon and the Regina Research Park contributed half a billion dollars to the province’s economy in 2004.
The survey, conducted and analyzed by Insightrix of Saskatoon, used information such as the purchase of local goods and services and staff salaries to determine the economic impact of the parks’ activities, based upon an economic model developed at the University of Saskatchewan.
Organizations at the Regina Research Park contributed $163 million to the economy of the city of Regina and $238 million to the provincial economy. The park was also responsible for 1,980 jobs in the province.
The tenants of Innovation Place contributed $184 million to the economy of Saskatoon and $262 million to the provincial economy in 2004. About 3,700 FTE jobs in the city and 4,200 jobs in the province are attributable to the presence of Innovation Place.