Regina, SK – Due to increasing demands by Saskatchewan’s technology sector, Regina’s Innovation Place is going to be expanded with the addition of a new building.
The three-storey, 6,596 sq m building will cost approximately $17.3 million and will complement the existing structure, which will undergo extensive renovations. The building will be ready for occupancy by the fall of 2008.
“Our current facilities in Regina are full,” says Douglas Tastad, president and CEO of Saskatchewan Opportunities Corporation. “This building will help meet the needs of existing clients wanting to expand, as well as facilitate the growing demand among new clients wanting to take advantage of the unique business environment and collaborative opportunities that our research parks provide.”
The new facility will be built to LEED (Leadership in Energy and Environmental Design) standards set out by the Green Building Council of Canada. By using sustainable design principles, it will minimize environmental impact and provide an environmentally friendly working environment.
Innovation Place Regina tenants currently provide work for more than 1,000 employees and annually generate $269 million in direct and indirect economic impact to the province of Saskatchewan. Upon completion of the new structure, an additional 270 employees will be added to the park, and the economic impact will exceed $315 million annually.