Transportation hub welcomes addition of growing company
“This development at the Global Transportation Hub represents our ongoing commitment to allow for meaningful, consistent employment for Regina residents, while continuing to provide the award-winning transportation service 4Tracks has been delivering since the company's beginnings.”
GTH president-chief executive Daniel Hersche was excited to have “an established and growing trucking company” like 4Tracks, which began business in Regina in 2008, choose the GTH for its Saskatchewan expansion.
Lori Carr, minister responsible for the GTH, said she is looking forward to “more announcements in the coming months.”
More than 350 acres of GTH land is being actively developed, between the Cargill Canola crushing plant and Saskpower's logistics warehouse project. Including the latest 15-acre sale, 278.8 acres have been sold at the “GTH footprint” since March 31, 2022. More than 1,000 acres have been sold by the GTH since its creation, while 502 acres remain for sale.
The Cargill sale of 247 acres for $38 million was the first parcel to be sold since 2017, following years of financial struggles. At one point, the GTH had amassed $46 million in debt.
According to the GTH'S 2021-22 annual report, GTH debt sat at $43 million but it had an accumulated surplus of $13.2 million by end of year.
The annual report stated companies at the GTH have created 900 jobs and invested $485 million in capital spending.
The GTH has been embroiled in controversy over struggling finances and land purchases, which the government had sold at two to three times the appraised value.
While the provincial auditor confirmed land was sold for too much, it found no evidence of fraud or conflict of interest.
This development at the Global Transportation Hub represents our ongoing commitment to allow for meaningful, consistent employment for Regina residents.