Released on March 1, 2012
Saskatchewan continues to be the hot spot for investment with new capital spending by private and public organizations projected to reach a new record level of $20.2 billion in 2012 according to a new report released by Statistics Canada.
"Saskatchewan is an opportunity rich province with a competitive and innovative economic climate, which makes us a very appealing jurisdiction for investors today," Enterprise Minister Jeremy Harrison said. "Major long-term commitments of this magnitude simply do not happen where there is uncertainty or a lack of return on investments."
This marks the fifth consecutive year that new investment in Saskatchewan exceeds the $14 billion mark. Statistics Canada projects that private sector investment in Saskatchewan will reach $16.8 billion in 2012, an increase of 4.9 per cent over 2011 ($16.0 billion), with the anticipation that the mining and oil and gas extraction sector will see increased investment levels in 2012. Public sector investment is projected to grow by 1.2 per cent in 2012, to $3.4 billion.
"This kind of investment happens in stable, growing and prosperous economies," Harrison said. "It happens where there are existing advantages in resources, people, infrastructure and incentives and that's what our government has been working to create."
Statistics Canada also made upward revisions of $1.7 billion in 2010 and $2.3 billion in 2011 for Saskatchewan, resulting in investment totals of $17.5 billion (2010) and $19.3 billion (2011).
Private and public investment intentions are based on a sample survey conducted by Statistics Canada of 30,000 businesses, governments and institutions across Canada. The survey was conducted from October 2011 to late January 2012.
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For more information, contact:
Jamie Shanks
Enterprise Saskatchewan
Regina
Phone: 306-787-2202
Email: jamie.shanks@enterprisesask.ca