September 25, 2007

Federal government ponders $20 million for Regina trade centre

REGINA, SK

The federal government is looking at funding up to $20 million for the construction of a new multi-purpose facility at IPSCO Place under Building Canada infrastructure plan.

The proposed construction of a new multiplex is part of a larger revitalization for the entire complex and will help attract large events to Regina. The larger revitalization includes the building of a 400,000 square foot complex which includes exhibition hall and event facilities, the upgrade of the Brandt Centre, and the demolition of 19 older buildings.

“Our event site has a significant role in attracting and hosting world-class agri-business, sporting, entertainment and cultural events and has a major economic impact on the community,” said Mark Allan, President and CEO of IPSCO Place.

“This project will allow us the opportunity to move forward with our master plans for revitalizing and redeveloping IPSCO Place and will also ensure that we can continue to be competitive nationally and internationally.

“We’re looking forward to continued partnerships with all three levels of government to see the multi-phase, multi-year project completed.”

“We are very pleased with the Government of Canada’s decision to make this major revitalization project a priority,” said Mayor Pat Fiacco. “This project will help ensure the long-term sustainability of IPSCO Place.”

Financial support for the project is conditional on the successful negotiation with the Province of Saskatchewan of a framework agreement under Building Canada.

It is also conditional on a federal due diligence review of the project, the successful completion of an environmental assessment and the successful signing of a contribution agreement.

DCN News Services

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