The Saskatchewan Research Council (SRC) has released its annual economic impact assessment report, and says it generated a record $1.2 billion in direct economic benefits in 2021-22.
The assessment was detailed in a provincial news release Friday. The release added that the research and technology organization “contributed to the creation or maintenance of over 10,700 jobs in Saskatchewan, valued at an additional $627 million.”
“By helping their clients grow, SRC has delivered record positive economic impacts for a variety of key industries in our province,” SRC Minister Jeremy Harrison added in the release.
“SRC continues to innovate and deliver on its mission of growing and strengthening the Saskatchewan economy.”
SRC president and CEO Mike Crabtree said that a 59 times return on provincial investment was achieved in 2021-22.
“By leveraging the province’s investment, SRC is able to provide valuable services to industry and strengthen Saskatchewan’s economy,” he said.
The mandate of the SRC is to “take under consideration matters pertaining to research, development, design, consultation, innovation, and investigation in, and commercialization of, the natural and management sciences.”
The SRC serves 1,400 clients in 23 countries.