Regina Prosperity Matrix delivers a focused benchmark of the region’s economy
January 29, 2025
(Regina, SK) First the first time, the Greater Regina Area (GRA) has a Regina-specific measure of its economic progress.
Developed by Economic Development Regina’s (EDR) Data and Insights team, and using a proprietary process to distill and weigh results, the Regina Prosperity Matrix (RPM) is a unique-in-Canada quarterly indicator that measures the overall health of the region’s economy.
“More than ever, local businesses, investors, and policymakers need sound, locally focused information to aid in decision-making,” EDR President & CEO Chris Lane said. “RPM is one in a range of tools offered by EDR that allow for data-informed business decisions. We’re pleased to share it with the community.”
RPM combines five indicators of importance to Regina’s economy to create a single composite indicator. As each individual I ndicator approaches its maximum value, the composite indicator trends toward a maximum score of 100.
“RPM is about more than statistics – it provides a regular checkup on the key data points that capture day to day life in Regina,” Lane said. “In essence, it’s not about the economy, it’s about quality of life.”
The overall Q4 2024 RPM score of 55 reflects strong economic performance with stable growth and manageable risks. Component scores include:
- Employment (47 – Moderate)
- Manufacturing (27 – Weak)
- Housing (69 – Strong)
- Retail/Consumer (83 – Very Strong)
- Household Affordability (51 – Moderate)
Q4 highlights include a strong retail and housing index, moderate employment, and household affordability levels. This points to strong consumer activity and housing demand, a relatively stable labour market. Similar to Canada’s broader manufacturing sector, Regina’s manufacturers saw sales declines in Q4, which impacted the RPM score for that component. With more than $3.2 billion in sales, the GRA’s manufacturing sector is, and will continue to be, a major driver of Regina’s economy.
“Overall, Regina’s economy showed robustness and resilience in Q4 2024,” Lane said. “While potential U.S. tariffs may create headwinds in coming months, our fundamentals are strong, and Regina is in a good place to weather the storm.”
Additional details on the Regina Prosperity Matrix can be found on the EDR website at www.economicdevelopmentregina.com/insights/regina-prosperity-matrix.
NOTE TO MEDIA
EDR President and CEO Chris Lane will be presenting at 8:45 a.m. at the Western Canada Economic Forum of January 29 at the Hotel Saskatchewan, Autograph Collection, 2125 Victoria Ave, Regina.
Lane will be available for interviews on this or other topics during the break in the session at
10:00 a.m. – or by appointment by calling the number below.
For additional information, please contact:
Chris Bonk
Director, Brand and Communications
Economic Development Regina
cbonk@economicdevelopmentregina.com
(306) 565-6388
About Economic Development Regina Inc.
ECONOMIC DEVELOPMENT REGINA INC. (EDR) is the lead agency for economic development for the Greater Regina Area (GRA).
EDR provides leadership to the community with specific accountability for the following core functions:
- Support industry growth and diversification through retention, development, and attraction of industry.
- Find innovative ways to promote sustainable growth while effectively addressing the challenges associated with it.
- Market and promote the Greater Regina Area for business and investment.
- Ensure the Greater Regina Area offers a vibrant and diversified economy for investors, a climate of growth for business and works toward a high quality of life for residents.
