The Saskatchewan Research Council’s (SRC) latest economic impact assessment shows it has contributed more than $15.5 billion in combined economic and employment impacts in Saskatchewan since it began assessing such in 2003 – including a combined impact of $887 million in this latest fiscal year.
SRC’s 2023-2024 economic impact assessment show SRC’s impact on the provincial economy in the fiscal year was $785 million. SRC also assisted in creating or maintaining more than 1,682 jobs in Saskatchewan in 2023-2024, a contribution valued at an additional $102 million.
These impact numbers were also accompanied by annual revenue of $83 million generated by SRC in 2023-2024.
In 2023-2024, SRC had a mandate effectiveness of 38, which means that for every dollar the province invested in SRC, SRC’s work contributed at least a 38-times return to the growth of the Saskatchewan economy.
“The Saskatchewan Research Council is dedicated to growing and strengthening Saskatchewan’s economy through research, development, and demonstration through the transfer of innovative technical solutions, applications and services,” Minister Responsible for SRC Warren Kaeding said. “SRC’s work is making an incredible impact on the province’s economic growth and is creating thousands of jobs for people across Saskatchewan.”
“At SRC, we are dedicated to strengthening Saskatchewan’s economy with quality private sector jobs and a secure environment,” SRC President and CEO Mike Crabtree said. “This is why our economic impact assessment is so important, as it truly demonstrates the value we can generate from the province’s investment in us.”
With 77 years of research, development and demonstration experience, SRC is Canada’s second largest research and technology organization with 1,400 clients in 22 countries around the world.
SOURCE Saskatchewan Research Council
