Saskatchewan's economy was the envy of Canadian provinces with record levels of population, employment and investment last year. As 2013 shapes up to be a banner year for Saskatchewan, The Conference Board of Canada confirms our province's economic momentum will continue with the top provincial growth rate.
No one knows this better than Saskatchewan's first provincial Retail Venture Capital Fund, Golden Opportunities Fund, which has been investing in our province for 14 years. Golden Opportunities' strategy focuses on the New Saskatchewan and is poised to capitalize on the wealth of exciting opportunities presented by four key pillars: oil and gas, healthcare facilities, management buyout (MBO) activity in the building supplies industry and a mature innovation portfolio.
The 2012 Fraser Institute Global Petroleum Survey ranks Saskatchewan's energy-rich oil and gas industry as a top place in Canada for oil and gas investment for the fourth consecutive year and the future potential of this sector remains strong with 45.6 billion barrels of oil-in-place. As the largest sector in Golden Opportunities' portfolio, the Fund is working with experienced, well-known oil and gas management teams that are operating in Saskatchewan's emerging oil and gas plays.
Our province's aging demographic represents another growing market as one in four Saskatchewan residents will be age 65 or over in the near future. Golden Opportunities is addressing the needs and demands of our aging population while alleviating the pressure on Saskatchewan's healthcare system through its investment in Golden Health Care. Using its innovative concept to change the way healthcare is provided, the company is expanding long-term healthcare facilities across Saskatchewan. In 2012, Golden Health Care continued to execute on its plan to be the largest provider of long-term care facilities and expanded to 7 healthcare facilities across Saskatchewan located in Prince Albert, Estevan, Emerald Park, Saskatoon, North Battleford, Swift Current and Yorkton.
The construction industry is an important part of the Saskatchewan fabric which once again experienced record activity leading Canada in overall percentage growth in 2012. Our province is slated for $100 billion in infrastructure development over the next decade which will continue to stimulate high demand for construction supplies and services. Golden Opportunities' focus on MBO activity within the building supplies industry, a sector directly tied to the growth of our local economy, led to the Fund's largest investment in its history. Located in Saskatchewan's newest city, Warman Home Centre is considered to be the pinnacle of the industry with service and quality that is unsurpassed in the province. Warman Home Centre's dedicated management team has led the company to reach over $85 million in annual sales and be recognized as a Top 100 Saskatchewan company in 2008 and 2009 by SaskBusiness Magazine.
Golden Opportunities' commitment to Saskatchewan's innovation sector over the past 14 years has provided local companies with the opportunity to pioneer innovations. Today, these companies are well-positioned and garnering global attention, for example Phenomenome Discoveries - a world-leading human health research company using patented technology to detect novel metabolites that are indicators of risk for various cancers and neurological diseases. In 2012, following introduction of its colorectal cancer blood test now selling in Canada, Phenomenome completed a major distribution agreement for the test in the United States with Polymedco Cancer Diagnostic Products - a world leader in non-invasive colorectal cancer screening technology.
It is an exciting time to be part of the economic fabric that is driving Saskatchewan's growth and there is no better place to invest then in the New Saskatchewan - a province poised for future growth and opportunity.
For more information on Golden Opportunities Fund, please visit goldenopportunities.ca or contact a licensed financial advisor.
