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ARCHIVED - Western Economic Diversification Canada


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Up-Front Multi-Year Funding

Strategic outcome: The western Canadian economy is developed and diversified.

Program activity: Community Economic Development

Name of recipient: Primrose Lake Economic Development Corporation

Start date: March 30, 2007

End date: N/A

Description: Create a community-controlled trust fund for economic diversification.


Program Activity: Community Economic Development
($ thousands)
Total Funding Prior Years' Funding Planned Funding
2010-11
Planned Funding
2011-12
Planned Funding
2012-13
15,000 15,000 0 0 0

Summary of annual plans of recipient: The focus of the Primrose Lake Economic Development Corporation (PLEDCO) in its first year of operation has been: (i) to establish its governance structure and (ii) to implement the elders program component of the PLEDCO agreement with the Saskatchewan government.

The performance expectations of the PLEDCO are to establish separate funds for income generated by the trust fund and to either re-invest the funds or disburse the funds towards economic development or economic infrastructure projects. On an annual basis, it is expected that approximately $600,000 - $1,000,000 in income will be generated by the trust fund. Projects associated with oilsands, oil and gas, or forestry development could be anticipated in 2009-2010 and 2010-2011, although these projects have yet to be identified.

URL of recipient site: http://www.ainc-inac.gc.ca/ai/mr/nr/j-a2007/2-2839-eng.asp