Regina’s economy is on the downturn, but businesses continue to remain positive heading into the new year.
The Regina Executive Leadership outlook reports that the executive confidence index sits at 2.13 points, which is down 19 from the previous quarter.
Vice-President Of Economic Development Regina David Froh said a lot of what has caused the unstable economy is out of the city’s control.
“The price of commodity prices, the renegotiation of a free-trade agreement and tariffs with some of our trading partners, and a lot of political instability south of the border, so it was a challenging year,” Froh said. “The good news is that we’re resilient despite of that.”
Froh said despite all of this, the outlook still looks positive for Regina’s future.
“We remain among the most diversified economies in Canada, we’re the second youngest city in all of Canada, and we have a 200% increase over 10 years in self-identified visual minorities,” Froh said. “Our city is changing for the better, we have some opportunities.”
The report notes the Protein Industries Canada super cluster being based in Regina will help improve executive confidence in the Queen City.