Released on February 25, 2011
Private and public investment in Saskatchewan is expected to reach a record $17 billion according to a report released by Statistics Canada today.
According to the report, Saskatchewan will have the second highest percentage increase among the provinces, up 7.2 per cent this year over 2010. Nationally, investment is expected to rise by 3.3 per cent over the same period.
"There is $17 billion of investment anticipated for 2011, a record-breaking amount that follows a number of positive economic forecasts for this year," Enterprise Minister Jeremy Harrison said. "The private sector has gained tremendous confidence in the Saskatchewan economy, and the report released today confirms we are undergoing a period of exceptional economic growth."
This is the sixth consecutive year that investment intentions in the province have surpassed $10 billion and the fourth consecutive year the figure has exceeded $14 billion.
Private spending is projected to increase by 4.0 per cent this year over last year in the province, fourth highest percentage increase among the provinces. Public spending is anticipated to be up by 21.9 per cent in 2011 over 2010, the highest increase in the nation.
"Our government will make much needed investment in infrastructure projects in the coming year," Harrison said. "This is an investment in our future - a legacy that will improve education, health and infrastructure to meet the needs of a growing population and economy."
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For more information, contact:
Deb Young
Enterprise Saskatchewan
Regina
Phone: 306-798-0503
Email: Deb.Young@enterprisesask.ca