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Government funds expected to aid northern economy
Approximately $1 million dollars is expected to help build the economies of four organizations in northern Saskatchewan, with the funds coming from the Community Development Trust Fund.
The four recipients of the funds are the Peter Ballentyne First Nation, Flying Dust First Nation, Sakitawak Development
Coorporation, and the town of Nipawin.
"We're offering support to these communities so that they can diversify their economies and create jobs and economic growth," said Enterprise Minister Ken Cheveldayoff. "Saskatchewan
communities have proven to be resourceful in finding new economic opportunities in the face of economic challenges."
The funds were offered to communities
and organizations that were affected by the global economic downturn in the
forestry industry, particularly when it resulted in the closure or scaling down
of lumber mills and operations, an economy they relied on for income.
All four entities will use their funds in related ways: Peter Ballentyne First
Nation will conduct a feasibility study on producing value added wood waste
materials. Flying Dust First Nation, Sakitawak Development Corporation, and
Nipawin will draw up comprehensive Economic Development Plans aimed at
diversifying their economies.
The press release states that $1 billion
Community Development Trust Fund was announced in 2008 by the federal government to help support activities that strengthen economic opportunities for
communities negatively affected by global financial and commodity market disruption.
Saskatchewan's share of the fund is $36.4 million over three years, with funding requests still to be finalized. More information is available at www.enterprisesaskatchewan.ca.
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