Investment in Building Construction Investment Soars in Saskatchewan
CANADA, January 22 - Released on January 21, 2025
Province Ranks Second in the Nation for Month-Over-Month Growth
New Statistics Canada data shows a 5.7 per cent increase in Saskatchewan's building construction investment in November 2024 compared to October 2024 (seasonally adjusted). This positions the province as second among all provinces for month-over-month growth in this category.
The province also saw an 11.8 per cent increase in year-over-year construction investment from November 2023 to November 2024.
"These figures reflect the ongoing confidence people and businesses have in making long term investments in Saskatchewan as a place to grow and succeed," Trade and Export Development Minister Warren Kaeding said. "Increased investment in building construction strengthens our communities, supports job creation, and further positions our province as the best place to live, work, and raise a family in the nation."
Investment in building construction is calculated based on the total spending value on building construction within the province.
The province continues to see economic success across several key indicators. Saskatchewan exports totaled over $102 billion for 2022 and 2023 combined. This is an increase of more than 52 per cent from the previous two-year period, and the highest export numbers in the province's history.
Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.77 billion, or 2.3 per cent from 2022. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
The Government of Saskatchewan also recently unveiled its new Securing the Next Decade of Growth - Saskatchewan's Investment Attraction Strategy. This strategy, combined with Saskatchewan's trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.
For more information visit: InvestSK.ca.
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