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Economic Development Services supports two primary mandates:
- Develop a sustainable economic development department that is focused on creating wealth and employment opportunities for the Saskatoon Tribal Council through the creation or acquisition of profitable business ventures.
- Be an economic development and business advisory resource for the seven First Nations that make up the Saskatoon Tribal Council.
The cornerstone of STC’s wealth creation mandate is its mission statement:
“Develop a First Nations-owned investment company that is focused on acquiring a strong group of profitable businesses that creates wealth and sustainable economic development for the Saskatoon Tribal Council.”
The operative phase in the mission statement is “acquiring a strong group of profitable businesses”. To achieve this objective STC adopted nine business acquisition criteria to evaluate potential business targets:
- Minimum 5 year operating history.
- Annual sales between $2.5MM – $20 MM
- Company must possess some/all of the following qualities: superior technology, superior product(s), comparative cost advantage, barrier to entry, exceptional management.
- History of profitable operations.
- Low leverage on the company’s balance sheet.
- Strong management with succession capability.
- Ability to grow revenues and profits post acquisition.
- Bankable business.
- Acquisition purchase price less or equal to 4 times EBIT (earning before interest & taxes).
Economic Development Advisor
#200 - 335 Packham Avenue
Saskatoon, SK S7N 4S1