Kevin Hursh Awards & Honours - Saskatoon Chamber of Commerce

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PRESIDENT’S VIEW Saskatchewan is known as “Canada’s Bread Basket” with about 45 percent of our total area being farmland. While wheat makes up the bulk of production, barley, canola, oats, rye, flax, mustard and lentils are also grown and exported to countries around the world. World leaders in mustard production with 1/4 of the world’s mustard, we also produce almost 1/3 of the world’s lentils and flaxseed. We are home to almost 1/3 of Canada’s organic production with $60M of exports from processing ingredients and products for the natural health and functional food sector and we have over 75 organic processors. We are the centre of agricultural biotechnology in Canada with more than 700 scientists working in 30 private, public and academic facilities. With all this primary production, and the R&D talent and facilities, the possibilities for value added production are mind boggling and yet we have only 250 value added processors. Why? Regulation, taxation and lack of capital are some of the biggest barriers to development for entrepreneurs, including agricultural entrepreneurs. PRESIDENT Monica Kreuger Global Infobrokers Inc. Debby Criddle Bayshore Home Health 2011-12 BOARD OF DIRECTORS Lynn E. Hnatick MacPherson, Leslie & Tyerman LLP 2 nd VICE-PRESIDENT Troy Davies M.D. Ambulance Care Ltd. Randell Morris Saskatchewan Indian Institute of Technology The Growing Forward agreement signed by the federal and provincial governments in 2008 to support agriculture and its value added sector is a step in the right direction; however, we also need to ensure the tools for entrepreneurs are available to take ideas to the next level. A competitive taxation environment such as recommended in A Change Today For Your Tomorrow is needed. Funded by the Saskatchewan Chamber of Commerce, the Institute of Chartered Accountants of Saskatchewan, Association of Saskatchewan REALTORS®, Certified General Accountants of Saskatchewan and the Certified Management Accountants of Saskatchewan, this report was produced by the Canada West Foundation and is the most comprehensive tax review undertaken in Saskatchewan since 1965. We need to attract more capital through tools such as Angel Investment Tax Credits and expanded Venture Capital. SAINT, the Saskatchewan Angel Investment, is the province’s interactive investment meeting place for angels and entrepreneurs and they do a great job, however, we need to join other provinces in offering tax 4 April 2011 BUSINESS View EXECUTIVE Tracy Arno Adecco credits for direct private investment in addition to the current offering of tax credits for investments in pooled funds through the Labour-Sponsored Venture Capital Corporation (LSVCC) program. Without an instrument to incent investment in the province’s most promising seed- and early-stage businesses, a lack of quality deal flow up to the LSVCC and venture capital firms will continue to hinder economic Continued on page 7 EXECUTIVE Troy Larmer United Group of Companies PRESIDENT Monica Kreuger Building the Best Business Climate in Canada. Thereby Creating a City of Opportunity. 1st VICE-PRESIDENT Christian Braid Braid Flooring & Window Fashion PAST PRESIDENT Brian Chalmers Concentra Financial Shawna Nelson Sheraton Cavalier Saskatoon Sanj Singh W. Brett Wilson Centre of Entrepreneurial Excellence, U of S Rhonda Speiss PotashCorp Barry Bergland CTV Tony Van Burgsteden AREVA Resources Canada Inc. Gerry Bonsal SIAST Kelsey Campus Stacey White Wiegers Benefits
© Jetfoto - Dreamstime.com It’s a rare time in primary agriculture. Both grain and livestock are enjoying profitable prices. Farm income problems have received a lot of attention over the years. By comparison, very little attention has been paid to the record profitability achieved by Saskatchewan farmers in both 2009 and 2010. There are many statistical measurements of farm income, but perhaps the best single number is realized net farm income. This takes into account all the sources of farm revenue minus all the expenses, including depreciation. The one drawback is that changes in inventory are not factored in, but it’s still the best overall profitability measurement. For 2009, Statistics Canada lists a realized net farm income of $1.6 billion for Saskatchewan. For 2010, the number is $1.7 billion. Not only are these records, but they eclipse the returns received in other provinces. For comparison, the numbers in Alberta are only $264 and $64 million. Saskatchewan is much more reliant on grain than livestock and that improved our numbers relative to our western neighbour. Manitoba’s numbers were also much stronger than Alberta’s at $553 and $404 million. Those who like to view the glass as half empty will point out that adjusted for inflation, Saskatchewan’s realized net farm income of over a billion dollars for two consecutive years back in the early 70s was actually much more impressive. Still, the nominal records set in 2009 and 2010 are a vast improvement over the many dismal numbers we’ve seen over the years. What does 2011 hold? Statistics Canada is predicting a realized net farm income decline to $593 million for Saskatchewan. That would be closer to recent norms. The projections call for an improvement to $250 million in Alberta, while Manitoba is expected to decline to $126 million. While stronger cattle prices will propel returns in Alberta, rising PROFILE KEVIN HURSH Predicting a positive year for farm income in Saskatchewan by Kevin Hursh Kevin Hursh is a consulting agrologist and farmer based in Saskatoon costs are expected to cut into grain returns in Saskatchewan and Manitoba. Fewer government support dollars are also forecast. Specifically, there’s no provision factored in for another excess moisture support program. The Statistics Canada projection was based on information from a number of months ago and since then we’ve seen unprecedented market volatility. Political turmoil in Egypt and Tunisia has been followed by a United Nations action against a cruel dictator in Libya. And we’ve seen the triple disaster in Japan. Any one of the events would have been catastrophic on its own. Taken together, the impact on the island nation has been devastating. Grain futures were limit down followed by limit up in the wake of the Japanese disaster. No one knows how it’s all going to unfold in the weeks ahead. Another big variable is the excess moisture in eastern regions of the grain belt. How much land will go unseeded? Despite the uncertainty, farmer optimism is high. There are more young people at farm meetings. Land prices and cash rents are the highest ever. Some of the best farm land is approaching $1,500 an acre and there are cash rents of more than $60 an acre. Records are also being set for cattle prices. For the first time since the BSE (mad cow) crisis of 2003, cow-calf producers are looking at strong profitability. As producers are painfully aware, there are no guarantees that the good times will continue. But market projections are promising and there’s a good chance that 2011 will turn out stronger than the Statistics Canada projection. Based out of Saskatoon, Kevin Hursh and his wife Marlene operate Hursh Consulting & Communications Inc. Kevin and Marlene manage Crop Production Week held annually in Saskatoon. As well, Kevin serves as Executive Director for the Saskatchewan Mustard Development Commission, the Canaryseed Development Commission of Saskatchewan and the Inland Terminal Association of Canada. Each year, Kevin is a guest speaker at scores of agricultural conferences and conventions. Kevin can be reached at kevin@hursh.ca. BUSINESS View April 2011 5
Page 1 and 2: April 2011 BUSINESS View saskatoonc
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Page 7 and 8: AWARDS & HONOURS Welcome new Chambe
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Page 11 and 12: At PotashCorp, we help farmers arou
Page 13 and 14: AIRPORT UPDATE Tomorrow’s Airport
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Page 19 and 20: On Tap with the Chamber Join us the
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Page 23: Creating an injury-free work enviro

Kevin Hursh Awards & Honours - Saskatoon Chamber of Commerce

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