Saskatchewan Making Investments to Secure Economic Growth

Released on March 20, 2024

New Investment Attraction Initiatives Drive Trade, Innovation, and Job Growth

The Ministry of Trade and Export Development budget will support Saskatchewan's economy by continuing to grow the province's presence in international markets and with potential investors. This year's budget creates even more opportunity for trade, investment and job growth here in the province.

The government's focus on international markets, business incentives and the investment attraction strategy solidify Saskatchewan's standing as the best place to do business in Canada. 

"This year's budget will continue to support the international engagement and competitive business incentives that are driving the record exports and nation-leading capital investment that we continue to see year-after-year," Trade and Export Development Minister Jeremy Harrison said. "Our new investment attraction strategy sets Saskatchewan up for even more success. We are committed to building new opportunities, growing our existing sectors and connecting the world to Saskatchewan. This is what will allow us to continue building resilient communities, create jobs and support our classrooms and health care system."

Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy  is vital to achieving the province's Growth Plan goal of growing and maintaining private capital investment in Saskatchewan to $16.0 billion annually. 

The province's unique strengths, including abundant resources, its strong commitment to sustainability and a competitive business environment, drive interest for investors seeking reliability and stability. That's the Saskatchewan advantage. By capitalizing on emerging sectors, fostering growth in existing ones and establishing global connections, Saskatchewan is poised to become a hub for diverse opportunities in critical minerals, agriculture, mining, energy and innovation. 

Connecting the world to Saskatchewan, the province is launching a new trade and invest website. This new site is the province's gateway to sharing its story. It provides international businesses and investors with insights into major economic sectors and highlights the vast economic opportunities available in Saskatchewan. 

It also facilitates direct connection to the Ministry of Trade and Export Development's Investment Attraction team, allowing the province to continue providing the concierge style service for which it is so well known. The user-friendly platform ensures a client-focused approach, offering a one-stop-shop for exploring the endless opportunities available in Saskatchewan. Visit investSK.ca to see just how the province is building global connections.

Here at home, Regina takes a significant leap forward with the announcement of a new direct flight to Minneapolis, backed by a $500,000 annual minimum revenue guarantee. This initiative between the Government of Saskatchewan and the Regina Airport Authority makes flying more convenient for residents and further boosts the economy by improving accessibility to Saskatchewan for investors and tourists. 

Saskatchewan was ranked second among the provinces for private capital investment in 2023, with an increase of nearly 25 per cent. With an expected additional increase of 14.4 per cent in 2024, the province is poised to lead the nation in growth. Saskatchewan's real Gross Domestic Product (GDP) grew by a nation-leading six per cent from 2021 to 2022. The total dollar value of the province's 2022 GDP is $81.8 billion.

For the fourth consecutive year, the province is also seeing record agri-food exports at $20.2 billion for 2023. With the province's new investment attraction initiatives and the 2024-25 budget, Saskatchewan is poised for even more success.

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