4. – PrairiesCan at-a-glance placemat

Prairies Economic Development Canada

• ~333 Employees
• $362.2M* PrairiesCan 2024-25 budget
  *Of this, $208.5M is for time-limited programs
• Enabling legislation: Western Economic Diversification Act

 

Key PrairiesCan contact

Diane Gray, President
diane.gray@prairiescan.gc.ca
780-495-5772

 

PrairiesCan priorities

New value and competitiveness

• Accelerating economic growth through new sources of value & innovation in traditional sectors

Green economy

• Enabling success in a net-zero future

Inclusivity

• Fostering a more equitable & inclusive economy

 

PrairiesCan goals

• Businesses are growing across the Prairies
• Communities are developing economically in the Prairies
• Prairie businesses are commercializing and adopting technology

 

Past PrairiesCan results

Since its creation in 2021, PrairiesCan has directly invested $1.1 billion in over:

• 340 communities
• 380 SMEs
• 850 not-for-profits

These investments have supported over 170,000 jobs across the Prairies.

 

PrairiesCan service locations

 

The Prairie region

• 18% of Canada’s population
• 23% of Canada’s nominal GDP
• 28% of Canada’s total capital expenditures
• 35% of Canada’s international goods exports

The top 5 sectors on the Prairies include:

• Mining, quarrying, and oil and gas extraction (16.5%)
• Real estate and rental leasing (11.8%)
• Manufacturing (8.2%)
• Construction (7.7%)
• Health care and social assistance (7.1%)

Alberta

• Nominal GDP: $459B (2022)
• Population: 4.8M (Q2 2024)
• The highest economic output per capita in Canada.
• Oil and gas makes up a significant portion of the economy.
• Home to Canada’s largest wind generating facility and  two largest solar facilities.

Saskatchewan

• Nominal GDP: $114B (2022)
• Population: 1.2M (Q2 2024)
• Account for the largest share of Canada’s total farm area.
• Home to critical minerals and rare earth elements that are rising in global demand.
• Key exports include wheat, potash, and uranium.

Manitoba

• Nominal GDP: $87B (2022)
• Population: 1.5M (Q2 2024)
• Steady growth in times of prosperity and minimal economic decline during recessions.
• One of the cleanest electricity grids in the world, with power generated from hydroelectricity.
• Diversity of exports including medicaments, wheat, seed oils, pork, and canola seeds.

 

Key Prairie economic and environmental challenges

• Capital expenditures down 29% from 2014 high ($126 billion) due to oil and gas decline
• The Prairies are leading in labour productivity, but it is concentrated in few industries and is declining
• Prairie greenhouse gas emissions are now larger than the rest of Canada combined
• Natural disasters such as wildfires and drought are becoming a common occurrence

 

Permanent Grants and Contributions programming

Businesses receive zero-interest repayable funding. Not-for-profits receive non-repayable funding.

Regional Economic Growth through Innovation (REGI)

• Business Scale-up and Productivity: support for high-growth businesses to scale-up
• Regional Innovation Ecosystem: funding for not-for-profit organizations to support entrepreneurship

Community Economic Development and Diversification (CEDD)

• Support for economic growth and diversification of communities

Economic Development Initiative (EDI)

• Support economic development projects in Official Language Minority Communities

Prairie Business Services Network (PBSN)

• Support for external organizations that help entrepreneurs start or expand small businesses, including rural areas and underrepresented groups

 

Temporary Grants and Contributions programming

Regional Artificial Intelligence Initiative

• Investment to help drive AI adoption by SMEs and sectors across the country (active until 2029)

Regional Homebuilding Innovation Initiative

• Support to advance new homebuilding methods and boost productivity (active until 2026)

Prairie Performing Arts Initiative

• Support for performing arts organizations based in the Prairies (active until 2027)

Black Entrepreneurship Strategy

• Supports Black business owners and entrepreneurs (active until 2025)

Canada Coal Transition Infrastructure Fund

• Helps communities impacted by transition away from coal (active until 2026)

Regional Quantum Initiative

• Deliver funds in support of the ISED-led National Quantum Strategy (active until 2029)