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INVESTMENT P R O F I L E

Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

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Page 1: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

INVESTMENT P R O F I L E

Page 2: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

MAYOR’S MESSAGEWelcome to Yorkton, the third largest trading area in Saskatchewan and a vibrant economic centre of the east-central Saskatchewan region. Yorkton covers a trading area of 1,400 square miles serving more than 150,000 people.

Our growing and diversified economy provides endless opportunities for new businesses and investment. The recent investment of $400 million in two canola crushing plants strengthens our agri-resource based economy. The potential expansion in the potash mining sector within this region will contribute significantly to the growth of our community.

We offer a good business climate for growth and investment with moderate property taxes, incentives for new and expanding businesses, competitive lease rates and land prices. Our business environment is as progressive as it is diverse, with companies in manufacturing, agriculture & food processing, construction, information and culture, plus a wide range of retail services forming the foundation of Yorkton’s economy.

A strong mixed demography, well educated and skilled workforce, healthy employment rate, and

stable commercial, industrial and residential sectors are factors supporting our community’s viability and attractiveness for investment.

Yorkton’s excellent level of educational, healthcare and leisure services, expanding housing sector, competitive business environment, and readily available amenities are just a few of the reasons why Yorkton is one of the best places to live, visit, work, and invest.

Yorkton was featured as one of Alberta Venture Magazine’s Best Communities for Business in the category of “Community on the Rise” for 2012. The pace of economic growth in the past few years and the excellent potential for future growth, particularly in the resource sector, made it possible to receive this distinction.

Our City Council, talented & professional staff and the Committees of Council are dedicated to fostering a strong infrastructure for sustainable economic growth.

We invite you to build your dreams here, a community of endless opportunities.

37 Third Avenue NorthBox 400Yorkton, SK S3N 2W3

tel 306.786.1700 fax 306.786.6880

[email protected] www.yorkton.ca

2

Mayor Bob Maloney

Page 3: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

WHY INVEST IN SASKATCHEWAN?

3

• The number of people working in Saskatchewan increased by nearly 20,000 in the first nine months of 2013.• Unemployment in Saskatoon and Regina in February 2014 was the lowest in Canada. Saskatchewan

had the lowest seasonally adjusted unemployment rate (3.9%) of all of Canada in December 2013.• The Saskatchewan labour market continues to grow, hitting record levels for the month of February 2014.

There were 573,300 people employed in the province in May, up 12,400 from last year. • Average weekly earnings in the province were $953.92 in January of 2014, the third highest among the

provinces, according to Statistics Canada. Nationally, the average earnings were $924.77.• Saskatoon and Regina are forecast to continue strong economic growth in 2014, at 3.2% and 3.5%,

compared to Edmonton and Calgary at 3.4% and 3.7%.• The provincial government projected economic growth to be 3.6% in December 2013, an increase

of 1% from the 2013-2014 budget. A record crop, higher employment in the province, higher-than-projected personal income, and higher corporate income, all indicate more business investment.

• Saskatchewan residents will save an estimated $6.5 million in 2014 with the continued indexation of the provincial income tax system.

• One of the priorities of the provincial government’s Plan for Growth is to keep taxes competitive. Indexing the income tax system helps Saskatchewan accomplish that priority. By the end of 2014, a family of four with $50,000 income will have saved about $15,000 through various tax reductions by the provincial government.

• A family of four with $50,000 annual income has now seen their provincial income tax cut by more than 90 per cent since 2007 - from about $2,300 in income tax to less than $200 in income tax in 2014 - a savings of more than $2,100 a year.

• Individual taxpayers now pay no Saskatchewan income tax on their first $18,650 of income while a family of four pays no Saskatchewan income tax on their first $48,320 of income - the highest tax-free income threshold for a family of four in Canada

YORKTON.ca

Mosaic Potash mine. Esterhazy, SK.

YORKTONWHERE WE ARE IN SASKATCHEWAN

YORKTON

SASKATOON

REGINA

Page 4: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

The answer is simple: natural resources & a cooperative business environment.

Saskatchewan has 50% of the world’s potash, while the next largest producer is Russia with 22%. World grain consumption is expected to increase dramatically to feed a global population anticipated to be 9.3 billion by 2050. Yorkton is in the middle of the largest and richest potash field in east-central Saskatchewan.

Yorkton also offers financial incentives for industrial and residential development:• A ten per cent rebate of the power levy paid by

heavy industry;• A five-year phase in of property taxes for

industrial development;• A five-year 100% tax exemption to developers

for building multi-family rental units.

Yorkton’s development charges are competitive with similar sized communities in Saskatchewan.

Yorkton has a diversified economic base with more than 1,200 businesses employing over 9,000 workers. Manufacturing, agriculture & food processing, construction, information & cultural industries, professional, scientific & technical services, retail trade, educational, healthcare, & administrative sectors are the current strengths of Yorkton’s economy.

Yorkton is also a centre for food processing, with two canola oil crushing plants plus oat, flax and meat processing. These three industries alone have over 500 employees.

WHY INVEST IN YORKTON? BUSINESS ACTIVITIES

ECONOMIC SECTORS

ESTEVAN $232,279.00 $263,734.27

SWIFT CURRENT $45,000.00 $45,000.00

MARTENSVILLE $103,740.00 $51,870.00

WEYBURN $271,715.00 $263,734.00

PRINCE ALBERT $98,372.00 $98,372.00

YORKTON $88,390.00 $170,319.00

CommunityResidential

($ / hectare) ($ / hectare)

Commercial or Industrial

4

AGRICULTURE & FOOD PROCESSINGYorkton is rich in agricultural resources and is becoming a food processing centre for east-central Saskatchewan. The two canola oil crushing plants, oat & flax seed processing plants, and a meat processing plant represent significant investment in this area. Both canola oil crushing plants expanded in 2013. Richardson International increased processing capacity at its plant by 25 per cent, from 2,400 tonnes of canola per day to 3,000 tonnes per day. This new expansion means the Yorkton plant has the capacity to process over one million tonnes of canola per year compared to its former 840,000 tonnes annual capacity. The Louis Dreyfus Commodities’ (LDC) plant is also processing over one million tonnes of canola annually. LDC invested over $2 million in a rail car wash facility, rail scale and material storage warehouse for its rolling stock in 2013.

MANUFACTURINGYorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in the agriculture sector and are major exporters, along with the food processing companies. Our manufacturers export their products throughout Canada, the U.S., South Africa, Australia and some European countries. Some of the major products include; agricultural equipment, hydraulic and pneumatic cylinders, rock-solid material handling equipment including dozer blades, front end loaders, and land scrapers.

SERVICES SECTOROver 1,000 Yorkton businesses not only support the primary, food processing, manufacturing and construction sectors, but also keep the community viable. Yorkton has offices of all major financial institutions, 11 hotels/motels with over 850 rooms, numerous restaurants, retailers, wholesalers, and trucking and warehousing companies. It is the head office for the Sunrise Health Region which provides health services to the entire east-central Saskatchewan region.

Yorkton offers flexible payment options for development charges. Contact the Economic Development Office for more information: (306) 786-1747

Page 5: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

Harvard Developments Inc. constructed a twelve acre commercial site in 2012 called York Station in northeast Yorkton. This project developed 100,000 SF of retail space, three restaurants and a 74-suite Days Inn hotel. The tenants in York Station include Dollarama, Browns Socialhouse, Bulk Barn, Tutti Fruitti, Taco Time, Pita Pit, SaskTel, Mr Mikes, A&W and Days Inn. Future phases of York Station include up to 61,065 SF of commercial floor space.

Two dealerships, Royal Honda and Royal Ford, are located at the intersection of Smith Street East and Dracup Avenue North. The investment in these dealerships is over $12 million and both feature state of the art body repair shops and show rooms.

Three new hotels add 257 rooms to the existing 600 hotel/motel room inventory. They include the 74-suite Days Inn, the 80-suite Home Inn & Suites and the 103-suite Holiday Inn Express. Total investment in these hotels is over $20 million.

The city completed the first phase of a 40-acre commercial subdivision in 2014 by the Tourism Centre on Hwy #9. Five highway commercial lots were created as a result of the city’s $6.2 million investment in this commercial subdivision.

Quance Developments Ltd. is working on a 50 acre highway-commercial development adjacent to Hwy #10 east. This site is oriented to big-box development and should be ready for tenants by the end of 2014.

MAJOR NON-RESIDENTIAL DEVELOPMENT

5.34 ACRES(2 LOTS)YELLOW-HEAD SUBDIVISION

18.04 ACRES(5 LOTS)

ROUNDHOUSE SUBDIVISION

10.37 ACRES(4 LOTS)

GLADSTONE INDUSTRIAL PARK

Serviced Employment (Commercial / Industrial) Land Inventory (acres)

The city continues to plan for industrial expansion on its lands located adjacent to Grain Millers Drive. Engineering studies were completed in 2013 and further work will be undertaken in 2014 on this area. Several private developers are at their planning stages for the development of additional industrial lots in Yorkton.

5YORKTON.ca

Page 6: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

RETAIL SALESRETAIL SALESYEAR YEAR

2002 2012

2006

2009

2014

2017

$567,474,625$213,610,000

$595,230,106(PROJECTED)

$371,740,000

$613,533,186(PROJECTED)

$486,870,000

Historic & Projected Retail Sales

Yorkton is the regional economic hub of east-central Saskatchewan. The trading area is the third largest in the province serving more than 150,000 people in Saskatchewan and west-central Manitoba. The city has a strong role as a centre for the retail and wholesale trade, health and government services, and a variety of commercial services. One major shopping mall, several strip malls, five retail box stores (Wal-Mart, Canadian Tire, Superstore, Staples, The Brick) and numerous independent retail stores in Yorkton serve this region with retail sales at $595m.

YORKTON’S RETAIL MARKET

“YORKTON IS THE THIRD LARGEST TRADING AREA IN SASKATCHEWAN AND THE VIBRANT ECONOMIC CENTRE OF EAST-CENTRAL SASKATCHEWAN”

YORKTON MAYOR – BOB MALONEY

Estimated Retail Inventory: 690,000 SF2013 Vacancy Rate: 5.47%2014 Retail Sales: $595 MillionAverage Lease Rate: Retail & office lease rate in the East End of the city is $18-$20 / SF. Downtown office & retail space is $9-$10 / SF New Retailers (2013): Dollarama, Pita Pit, Bulk Barn, A&W, Tutti Frutti Frozen Yogurt, Taco Time, Subway & Pet Value.Businesses slated to open in 2014: Sport Chek, Atmosphere, Browns Socialhouse.Trading Area Population: 150,000+

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Page 7: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

Construction Values by Sector (2008 - 2013)

$64,438,322

$46,416,630

$22,143,590

$31,882,817

$74,704,950

$40,715,511

$280,301,820

TOTAL

2008

2011

2010

2013

TOTAL

2009

2012

$25,056,204

$3,538,620

$1,800,100

$2,600,000

$2,214,000

$1,850,000

$37,058,924

INDUSTRIAL

$24,594,968

$29,726,550

$6,673,500

$11,318,715

$49,415,535

$17,835,881

$139,565,149

COMMERCIAL / INSTITUTIONAL

$2,125,000$12,662,150

$1,607,000$11,544,460

$6,458,915$7,211,075

60 30

50 25

40 20

30 15

20 10

10 5

0 0

$8,972,999$8,991,103

$10,567,000$12,508,415

$7,040,000$13,989,630

$36,770,914$66,906,833

MULTI-FAMILY RESIDENTIALSINGLE FAMILY RESIDENTIALCurrent residential, commercial and industrial development translates into building permit values not seen before in Yorkton. Building permits have increased dramatically in industrial, commercial and residential sectors over the past five years, from $7 million in 2006 to $74 million in 2012. More than $280 million worth of building permits were issued over the past five years.

BUILDING PERMITS

7

2008 20082011 20112010 20102013 20132009 20092012 2012

COMMERCIAL BUILDING PERMIT ACTIVITY ($ THOUSANDS) INDUSTRIAL BUILDING PERMIT ACTIVITY ($ THOUSANDS)

YORKTON.ca

Page 8: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

Over 400 international immigrants have moved to Yorkton over the past three years. Yorkton is also experiencing an increase in migrants from other Canadian provinces. The increase in the number of international immigrants is diversifying the demography and cultural base of the city. Apart from being a resource for local and regional businesses which are facing labour shortages, the international immigrants have created an opportunity for diversification in food businesses.

Regional Labour Force (2013)

UNEMPLOYED

EMPLOYED

UNEMPLOYMENT RATE

PARTICIPATION RATE

LABOUR FORCE

POPULATION (15 & OLDER)

62,900

41,500

66.0%

39,700

1,800

4.3%

Labour Force (2013)

4,3964,630

FEMALEMALE

4,2674,328

2.9%6.5%

60.7%72.4%

129302

2,8391,767

IN THE LABOUR FORCE

UNEMPLOYED

EMPLOYED

NOT IN LABOUR FORCE

PARTICIPATION RATE

UNEMPLOYMENT RATE

The city’s labour market area covers approximately 32,600 square kms (12,587 square miles), 5.1% of Saskatchewan’s total area. A regional labour force of 41,500 is available within this area. This represents about 6% of Saskatchewan’s total population.

Recruitment and training of workers is a primary goal of the community, with strong regional and provincial recruitment strategies underway to attract skilled labour from across Canada and the United States. In addition, planned expansion of the Regional Trades and Technology Centre and curriculum at Parkland College will allow us to meet the needs of new and existing specialized jobs in the community and the region. We are also recruiting professional, trained immigrants through the Saskatchewan Immigrant Nominee Program, and are working with First Nations groups to train aboriginals to bridge labour market gaps.

YORKTON’S LABOUR MARKET IMMIGRATION

8

Page 9: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

LOVE East Indian Cuisine is just one of many additions to the hospitality sector of Yorkton’s economy. Residents of Yorkton and area now have more choices for ethnic foods, and may see some additional ethnic food restaurants in Yorkton due to our diversifying population. BK’s Group Holding’s investment in the existing 5,600 SF restaurant facility retained 10 jobs and will be adding five more jobs by Summer 2014.

“What matters most for any business to invest in any city are: the city’s current economic development and growth plans; the past 5-7 years growth pattern and history; and the City’s proactive and pro business policies. All these factors were there for us to make the easy decision to invest in the people and the City of Yorkton. Glad we did.” – Bijendra Sharma, Co-Owner

COMPANY PROFILE

9

“Given Yorkton’s unique location, which not only has

a local population of 20,000 but also over 150,000 people from surrounding towns who

travel to shop in Yorkton... we had no doubt in our mind

that LOVE East Indian Cuisine would be successful.”

– Inder Sharma, Co-Owner

YORKTON.ca

Page 10: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

6/16/2014 Google Maps

https://www.google.ca/maps/@51.1866913,-102.9254163,7z 1/1

Map data ©2014 Google 50 km

Traffic, Terrain, Directions

Yorkton is located close to rich agricultural and mineral resources, and whether you access us by train, auto or plane, we have you covered! We have a great network of highways and railways along with our regional airport. All of these provide excellent opportunities to move your product from Yorkton to global destinations.

Yorkton’s strategic location on Hwy #16 between Winnipeg and Saskatoon allows it to play a key role in the distribution of goods and services either within the western provinces or to the United States. Both CN Rail and CP Rail have major transportation links to Yorkton and service the canola crushing plants and other industries in this region.

We are located within a trade corridor that connects Mexico, the mid-western states with the Port of Churchill in Manitoba and other areas of Western Canada. Yorkton has actively participated in the Ports-to-Plains Northern Working Group Strategic Plan to enhance this trade corridor and the numerous markets that exist within it.

STRATEGIC LOCATION

YORKTONWHERE WE ARE IN SASKATCHEWAN

YORKTON

SASKATOON

REGINA

10

YORKTONWHERE WE ARE IN CANADA

Page 11: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

COMPANY PROFILE

The $400m investment in two canola crushing plants (Louis Dreyfus Commodities and Richardson International) in 2009 brought 150+ direct jobs to the community. Both plants have since expanded their operations.

In 2009, Louis Dreyfus Commodities (LDC) started its operation with an annual capacity of 850,000 metric tonnes and brought in 75 new jobs. The plant is now crushing some one million metric tonnes (mt) of canola annually (540,000 mt of meal and 420,000 mt of oil). Recently, LDC has invested over $2m in a rail car wash plus storage bins to increase shipping & storage capacity. The rail car wash facility will be operational in 2014 with a washing capacity of 514 cars annually.

“A very accommodating relationship with the City of Yorkton to work through issues, various permitting and other requirements. It was a pleasure to work with such a talented group of people.” – Brian Conn, Vice President, Canadian Oil Seeds

11

“Certainly, apart from the proximity to canola growth in one of the

most robust areas of production in the country, strong road and

rail infrastructure to promote movement to and from the facility in Yorkton was one of the primary

reasons of our relocation.” – Darryl Flunder, Manager Procurement

YORKTON.ca

Page 12: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

Yorkton has been featured as one of Alberta Venture Magazine’s Best Communities for Business in the category of “Community on the Rise” for 2012. The pace of economic growth in the past few years and the excellent potential for future growth, particularly in the resource sector, made it possible to receive this distinction.

A strong mixed demography, well educated and skilled workforce, healthy employment rate, and stable commercial, industrial and residential sectors are factors supporting our community’s viability and attractiveness for investment.

A report by the Saskatchewan East Enterprise Region indicated 67% of businesses in the resource sector surveyed in this region plan to expand in the next few years. In that same study, 60% of those businesses indicated their sales are increasing while over $3.8 billion is expected to be invested either in expansion or renovations in these businesses in the next few years.

BUSINESS CLIMATEYorkton’s ability to attract new business investment is important in achieving the City’s vision of “becoming a growing, dynamic, regional centre, Where Good Things Happen”. New and expanding businesses are becoming stakeholders in our community, providing job opportunities and generating tax revenue, which contribute to Yorkton’s excellent quality of life.

Our location, business climate, and moderate property taxes and land prices are some of the competitive advantages Yorkton has to attract new investment.

OUR COMPETITIVE POSITION

12

Page 13: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

After 25 years in business, the rapid growth in Yorkton led Royal Auto Group to make an additional investment of $12m in two new car dealerships, Royal Honda (new dealership) and Royal Ford (expansion). Both car dealerships recently opened for business at the corner of Smith Street East and Dracup Avenue North. The 56,500 SF dealership facilities accounted for 85 direct jobs in the community.

“Yorkton is our home, but the strong economic growth, moderate property taxes and increase in consumer’s demand for our products within our huge trading area were some of the reasons for expanding our business in the city.” – Terry Ortynsky, Dealer Principal

COMPANY PROFILE

13

“After Red Deer, Yorkton is where the economy is growing with the

faster pace. Yorkton is one of the best places to do business

in Western Canada.” – Terry Ortynsky, Dealer Principal

YORKTON.ca

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DID YOU KNOW... • Yorkton is home to North America’s longest running film festival? The Yorkton Film

Festival began in 1947.

• Parkland College offers post secondary opportunities including both university and technical skills programs? The college begins the first phase of a new trades and technology training centre in 2014 with the first class expected in the fall of 2015.

• Yorkton has flourishing arts and cultural opportunities for children and adults alike? These range from coffee shop open mic nights to a presentation of the Royal Winnipeg Ballet, participation in numerous festivals, organized concerts, casual indoor and outdoor performances, classes and programs.

COME SEE WHY YORKTON HAS SO MUCH TO OFFER!

Page 15: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

“At Browns Socialhouse, we value ourselves as a neighbourhood organization and constantly seek ways to connect with the community. Since 2004 Browns has grown to over 27 locations, expanding all over Canada and to parts of the United States.”

We’re Yorkton’s neighbourhood Socialhouse, dedicated to the art of presenting exceptional cuisine in our own stylish and unique setting. We like to think we simplify the dining experience, integrating fresh food and cheerful service in a relaxed environment.

Our customers tell us that Browns makes them feel comfortable, relaxed and at home. This is no coincidence, because it’s the foundation of the term “Socialhouse”. For us Browns is more than a restaurant, it is a place to be welcomed, remembered and indulged, with a standard for service and food that will leave you feeling exceptional and satisfied, every time. Restaurant. Bar. Socialize. Come on by, we’ve got something for everyone.

COMPANY PROFILE

15

“With the Yorkton economy thriving and the community

being so tight knit, it was the obvious choice when

it came to building the perfect place to socialize.”

– Michael Truong, General Manager

YORKTON.ca

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FUTURE DEVELOPMENT AT THE YORKTON REGIONAL AIRPORT (YRA)Freight transportation will be an important function of the Yorkton Regional Airport over the next twenty-five years. With Yorkton expected to grow to 36,000 people by 2038, the airport’s strategic location will allow it to serve as a distribution centre to remote locations in Saskatchewan and Manitoba.

With connections, east, west, south and north, the Yorkton Regional Airport will diversify its operations over the next 25 years and provide services to shippers looking for air freight service either within or outside of Saskatchewan.

Located two miles north of Yorkton, the YRA offers a strategic intermodal transportation hub expected to be expanded over the next 25 years. This hub will offer easy access to the Canadian National Railway links throughout Canada and the United States as well as the Canadian Pacific Railway.

Situated within the Ports to Plains Corridor, our strategic location allows us world-class global logistics to international and domestic transportation companies. Our geographic position will allow the YRA to offer a cost-effective solution to any logistical issue.

The YRA will become an economic driver to the region through its business-park and linkages to major transportation networks throughout Western Canada and the United States.

Page 17: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

COMPANY PROFILE

17YORKTON.ca

“Yorkton’s strong economy, huge trading area, and interest

from larger businesses to expand operations in Yorkton

are some of the reasons for the rapid growth of our business in

the last five years.” – Jason Hrywkiw, Co-Owner

R.H. Electric Ltd was started in 1983 by Randy Hrywkiw and is now in its 30th year of business. Randy’s sons Jason, Brock and Colin are continuing R.H. Electric’s reputation as being a trusted and professional service provider committed to safety.

The company has experienced rapid growth over the past five years that has led to the creation of 24 new jobs in the community. RH Electric operates from a 5,000 SF outlet and employs 30 skilled workers.

“Our business has experienced more growth in the last five years than all 30 previous years combined. We are excited to be a part of all the new development that is happening here. I don’t think we would have been able to experience this amount of growth anywhere but Yorkton.” – Randy Hrywkiw, Founder, R.H. Electric Ltd.

Family run, community minded, trusted since 1983

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* Including School Property Tax

$1,691.03$1,700.17$1,791.28$1,906.55$1,935.05$1,939.92$1,982,59$2,134.79$2,173.87$2,399.84$2,519.02$2,735.61$2,819.62$2,846.47

123456789

1011121314

123456789

1011121314

Melville Swift CurrentMoose JawMelfort YorktonNorth BattlefordHumboltMeadow LakeWeyburnEstevanPrince Albert ReginaSaskatoonMartensville

SaskatoonWeyburnReginaSwift CurrentEstevanMartensvilleMoose JawMelville HumboltNorth BattlefordMeadow LakeYorktonMelfortPrince Albert

$1,712.05$1,880.85$2,068.64$2,137.52$2,251.90$2,231.91$2,348.04$2,447.68$2,553.00$2,720.23$2,898.58$2,928.00$2,932.64$4,258.02

City Total Property Tax Rank City Total Property Tax Rank

2013 Taxes Based On Average Single Family Residential Property Value In Each City*

2013 Taxes on $100,000 Taxable Assessment Commercial Property

MODERATE TAXESYorkton offers a great business environment for growth and investment with moderate property taxes, incentives for new and expanding businesses, competitive lease rates and land prices. Our business environment is as progressive as it is diverse with companies in manufacturing, food processing, construction, information and culture, plus a wide range of retail & health services forming the foundation of Yorkton’s economy.

18

Page 19: Yorkton Investment Profile · MANUFACTURING Yorkton has over 20 manufacturing businesses. Morris Industries, Leon’s Manufacturing Company, and Ram Industries produce equipment in

A number of initiatives are planned in 2014 to make Yorkton the best place to do business. These initiatives include:

CREATING AN ECONOMIC DEVELOPMENT PLANThe 2014 – 2016 Strategic Economic Development Plan for the City of Yorkton will outline the ways through which the City will organize its available resources to manage current and future economic growth. The Yorkton Economic Development Committee and the Economic Development Department will set the economic priorities for the next three years to pave way for new investment and economic prosperity in the City. The Plan will be finalized in June 2014.

REVAMPING THE ENTERPRISE ZONE INCENTIVE PROGRAMThe Enterprise Zone Incentive Program (EZIP) was introduced in 2005 to establish an Enterprise Zone

to provide development and property improvement incentives. The City wanted to promote economic growth and enhanced development opportunities within the designated Enterprise Zone. The objective was to revitalize and beautify the Enterprise Zone by removing blight, expanding the tax base, and increasing the economic vitality of the Downtown and West Broadway Corridor.

Now, in consultation with the key stakeholders, the City is working on preparing a city-wide incentive program for:

a) Heritage Preservationb) Brownfield Remediationc) Business Creation and Expansion

The new program is intended to promote city-wide development and improvement opportunities through incentives for property owners, developers and businesses.

INITIATIVES FOR 2014 LABOUR MARKET DEVELOPMENTRecent economic growth has led to a labour market shortage in the Yorkton area. The city took the initiative to participate in the National Job Fair & Training Expo in Toronto, Ontario, on April 2nd & 3rd, 2014, to showcase employment opportunities in this region. Apart from working to attract employees at the national and international level through the trade show and other martketing initiatives, the City will also be working with First Nations for the long-term solution to the labour shortage in Yorkton and area. All key stakeholders will be consulted to develop a long range labour market strategy by the end of 2014.

19YORKTON.ca

Future development at Parkland College in Yorkton.

Photos courtesy of: City of Yorkton and Peter Baran

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37 Third Avenue North, Box 400Yorkton, SK S3N 2W3

306.786.1700 fax 306.786.6880

YORKTON.caScan this QR Code to view this document on your mobile or tablet device.