Released on February 6, 2008
New Record For Building Permits Set in December
If Saskatchewan's construction sites seem busier than ever these days, new figures just out indicate why.
Saskatchewan led all provinces in residential construction growth and overall construction growth in 2007, according to a new report issued today by Statistics Canada. Overall construction growth rose 42 per cent in the past year, while residential construction growth was up by an astonishing 74 per cent. In comparison, Newfoundland and Labrador had the second highest increase in residential construction at just 30 per cent.
Premier Brad Wall said the new figures show that Saskatchewan's economy continues to gain strength and that Saskatchewan people are benefiting from the economic momentum.
"The residential construction growth shows that families are building new homes and the commercial construction growth shows that business are expanding and creating new jobs in our province," Wall said. "Both are clear signs that Saskatchewan is on a roll."
In December alone, the total value of building permits hit a record high of $217 million, an increase of 83 per cent over November and the largest month-over-month increase of any province.
"Building permits and the capital investment required are signs of a strong and growing economy and confidence in the future," Wall said. "Our government is committed to sustaining a positive economic climate and continuing our economic momentum."
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For more information, contact:
Deb Young
Enterprise and Innovation
Regina
Phone: 306-787-1691