Released on February 25, 2009
Public and private investment intentions figures were released by Statistics Canada today and report Saskatchewan had a 19.8 per cent increase in 2008 over 2007 to $14 billion. That was the highest percentage increase in the nation and revised upward from a previous forecast of 18 per cent.
"This is excellent news for the Saskatchewan economy as capital investment intentions are an important marker in gauging our economic progress," Enterprise and Innovation Minister Lyle Stewart said. "The economic booster shot our government injected into the economy a month ago along with the strong figures for 2008 investment will keep us well ahead of most, if not all other provinces."
In 2009, Saskatchewan is expected to have an increase of 1.0 per cent while Canada and almost every other province will experience a decline in investment. Only Newfoundland and Labrador and Nova Scotia are forecast to see a higher percentage increase in 2009, at 9.4 per cent and 2.6 per cent respectively.
The $14.2 billion expected in 2009 is a record, marking the second time Saskatchewan has exceeded $14 billion in investment.
Capital investment has almost doubled in the province since 2004, growing from $7.5 billion in 2004 to $14 billion in 2008.
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@gov.sk.ca