Private businesses are coming together in Regina in the hopes of attracting new businesses and growing the city long-term.
Ten companies, plus the city itself, are investing a total of $750,000 over three years into Economic Development Regina (EDR). They include Mosaic, Phoenix Group, Greystone Managed Investments and Regina & Region Home Builders’ Association.
The money will be used towards things like advertising and promotion. The Regina Advantage will also be launched this fall.
The multi-year program will highlight the Queen City as the best place in Canada to invest, live and learn.
“Governments don’t create economic development, the private sector does. They create the jobs, they create the environment for investment,” said Mayor Michael Fougere.
Not only will EDR work to bring in new companies, it’ll also work to retain and grow ones already set up in the city.
“The mood’s changing. We’re doing well here and success breeds more success,” EDR chair Murad Al-Katib said. “There’s an entrepreneurial ecosystem here in Regina. We want to create this to be a place where entrepreneurs can flourish.”
Fougere said he expects more companies to invest as well, saying several other businesses have expressed interest beyond the companies announced Friday.