September 18, 2018

SRC Announces Record-High Economic Impact Results for 2017-18

The Saskatchewan Research Council (SRC) saw a record high year for its economic impact assessment results in 2017-18.

During this time, SRC provided a more than 37 times return for every dollar invested by the Government of Saskatchewan.  That represents more than $772 million in direct economic benefits to the province’s economy and $42 million in jobs created or maintained.  Overall, SRC’s economic and job impacts equalled $814 million.  These numbers are a new high for SRC since it first started assessing its impacts on the province in 2003.

“SRC continues to lead the way for research and technology organizations in Canada,” Minister Responsible for SRC Jeremy Harrison said.  “By working on new and exciting projects, SRC ensures it is well positioned for the future, meeting its mission and creating positive impacts for Saskatchewan all at the same time.”

Over the last 15 years, SRC has achieved more than $8.4 billion in combined economic and job impacts in Saskatchewan.  Benchmarking has shown this economic impact achievement record is unparalleled in the world for research and technology organizations.

“We are not only highly focused on producing smart science solutions for our clients, but also positive economic, environmental and social impacts in the province,” SRC President and CEO Dr. Laurier Schramm said.  “This is the 10th year for which our economic and jobs impacts have exceeded the half-billion-dollar level and we are proud of that achievement.”

In addition, SRC continues to be committed to conducting business in a socially and environmentally responsible manner.  Some highlights from SRC’s 2017-18 corporate social responsibility activities include:

  • 84 per cent of project expenses were aimed at creating positive environmental and/or social impacts.
  • A lost-time injury rate of zero for the third year in a row.
  • More than 260 volunteer hours at food banks and other initiatives through SRC’s Employee Volunteer Program.

SRC is one of Canada’s leading providers of applied research, development and demonstration (RD&D), and technology commercialization.  With more than 340 employees, $75 million in annual revenue and 71 years of RD&D experience, SRC provides services and products to its 1,500 clients in 20 countries around the world.