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SRC announces economic impact results for 2014-15

The Saskatchewan Research Council (SRC) released its economic impact results for the 2014-15 fiscal year on September 1.

The Saskatchewan Research Council (SRC) released its economic impact results for the 2014-15 fiscal year on September 1.

For every dollar the province invested in the SRC over the past year, the council provided a more than 26-times return to the growth of the Saskatchewan economy. That translated into more than $519 million in direct economic benefits to the province. SRC’s work also contributed to the creation or maintenance of more than 832 jobs in Saskatchewan, valued at more than $59 million.

“SRC’s mission is to deliver smart science solutions with unparalleled service to clients and colleagues, that grow and strengthen our diversified economy,” said Jeremy Harrison, minister responsible for Innovation. “These reported economic, environmental and social impacts prove SRC’s continued dedication to growing Saskatchewan’s economy.”

Since 2003, SRC has achieved more than $6.3 billion in combined economic and job impacts in Saskatchewan.

“Our 26-times return on investment is unparalleled in Canada among other research and technology organizations,” said Dr. Laurier Schramm, SRC president and CEO. “Globally, SRC is increasingly being recognized as a one-stop-shop for smart science solutions.”  As part of its commitment to conduct its business in a socially and environmentally responsible manner, SRC will be submitting its Corporate Social Responsibility (CSR) report to the Global Reporting Initiative (GRI) for the fifth year in a row.

Some highlights from SRC’s 2014-15 CSR activities are:

• More than $27 million in projects aimed at creating positive environmental and/or social impacts were undertaken;

• SRC participated in projects that resulted in greenhouse gas (GHG) reductions of more than 21,100 tonnes and energy savings equivalent to more than 40 million kWh/year.

• Through the Employee Volunteer Program, 113 SRC employees volunteered 426.5 hours at food banks in Saskatoon, Regina and Prince Albert. SRC employees also donated 522 kilograms of food as part of three targeted food drives.

• SRC was listed in Corporate Knights’ The Future 40 Responsible Corporate Leaders in Canada for the second year in a row. The Future 40 recognizes Canadian companies that are top sustainability performers.

SRC is one of Canada’s leading providers of applied research, development and demonstration (RD&D), and technology commercialization. With more than 350 employees, $73 million in annual revenue and 69 years of RD&D experience, SRC provides services and products to its 1,500 clients in 20 countries around the world.

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