Released on August 16, 2016
Manufacturing sales saw a strong increase in activity to begin the summer, with Saskatchewan ranking first among the provinces in terms of month-to-month percentage change.On a seasonally-adjusted basis, manufacturing sales in Saskatchewan increased by 4.3 per cent in June 2016 compared to May 2016, enough for top spot. Food and chemicals, wood products and machinery manufacturing were sectors that experienced increases.
In June 2016, compared to June 2015, manufacturing sales were up by 2.9 per cent—second in percentage growth among the provinces—to a value of $1.2 billion.
“The mark of a diversified economy is one that shows growth and activity in sectors unrelated to other industries,” Economy Minister Bill Boyd said. “Our manufacturers continue to do what they do best, and our commitment to maintaining a competitive, business-friendly operating environment still sets Saskatchewan apart from other jurisdictions.”
The province offers a variety of advantages to manufacturers, including a Corporate Income Tax rate as low as 10 per cent (depending on the type of operation), no Corporate Capital Tax, a 5.0 per cent refundable tax credit for investment in manufacturing and processing equipment and facilities, and the ability to use 100 per cent of eligible Research and Development expenses against net income for the purpose of calculating federal tax credits.
Saskatchewan’s manufacturing sector recorded a total of $14.1 billion in sales in 2015.
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For more information, contact:
Jamie Shanks
Economy
Regina
Phone: 306-787-4765
Email: jamie.shanks@gov.sk.ca