The Greater Regina Area (GRA) now has a dedicated tool to measure its economic progress.
Economic Development Regina (EDR) has introduced the Regina Prosperity Matrix (RPM), a quarterly economic indicator developed by its Data and Insights team. The RPM uses a proprietary process to combine five important factors: employment, manufacturing, housing, retail/consumer activity, and household affordability.
The Q4 2024 RPM score of 55 reflects a stable and strong economy with manageable risks. Retail and consumer activity scored the highest at 83, followed by housing at 69. Employment and household affordability had moderate scores of 47 and 51, respectively, while manufacturing struggled at 27. Despite manufacturing declines in line with national trends, the sector remains a vital part of Regina’s economy, generating over $3.2 billion in sales.
Chris Lane, President of EDR, highlighted the importance of the RPM for businesses and policymakers in making data-informed decisions. He emphasized that the tool is about more than just numbers; it offers insights into the region’s overall quality of life.
Lane also acknowledged potential challenges, including possible U.S. tariffs, but expressed confidence in Regina’s economic fundamentals. “Regina is in a good place to weather the storm,” he said in the release.
The RPM provides regular updates and a comprehensive snapshot of Regina’s economic landscape, helping to foster resilience and growth across the community. More information is available on EDR’s website.
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