Local writers rejoice, there's a new cash prize up for grabs.

A new literary prize is up for grabs this year for one Alberta writer.

The newly created 'Prairie Grindstone Prize' is offering up a $50,000 cash prize from an anonymous donor.

And in a unique twist, the prize will be shared between Alberta and Saskatchewan every other year.

The inaugural prize will go to an Albertan this year, with next year's going to a Saskatchewan writer.

Stacey Walyuchow, Marketing and Design for the organization, says there are three pieces of criteria that need to be met.

"We do need them to be a resident of the province that they are in for the last five years at least as of the nomination. We do need them to have at least four professionally published books and be an active member of the writing community. 

So, any books that are self-published do not qualify.

Walyuchow also further explains that this prize is for their body of work and not for any specific book. It's about helping fund their career.

"Authors are often juggling, as anybody is in any creative career, a family, possibly other jobs, trying to promote their writing, trying to write in general. So, having this money available to them would open up some opportunity to focus on the work they want to create."

Nominations will be judged by three of their peers.

The nomination deadline is April 15th, and the winner will be announced June 1.