Manufacturing plays a key role in the Saskatoon Region with local companies continuously building innovative products to support a variety of industries both locally and internationally. Our local manufacturers have pioneered many new ground-breaking products – everything from satellite communications technology and dry land farming equipment, to robotic mining equipment.
Key industries include:
- Food and beverage processing
- Transportation and industrial equipment
- Chemical manufacturing
- Forestry products
Emerging sectors include:
- Aerospace and defense
- Specialty automotive products unmanned aerial vehicles
- Electronics and instrumentation
- GDP: Manufacturing shipments of products totaled $13.45 billion in 2020
- Employment: The sector employs more than 30,700 people
- Trade: International exports of manufactured goods are valued at $4.6 billion
In 2019, the province released Saskatchewan’s Growth Plan: The Next Decade of Growth, which positioned manufacturing as one of the key drivers for the economy. The province sets a goal to grow the value of manufacturing exports by 50 percent in the Growth Plan.
There are a number of business incentives available to manufacturing companies in Saskatchewan:
- Manufacturing and Processing Profits Tax Reduction, reduces the Saskatchewan Corporation Income Tax (CIT) rate by as much as two percentage points on Canadian manufacturing and processing profits, as reported on the federal T2 CIT return
- Manufacturing and Processing Investment Tax Credit, is a refundable tax credit to eligible businesses designed to encourage plant and equipment investment for M&P activities in Saskatchewan
- Corporation Income Tax Rebate for Primary Steel Production, provides a tax incentive for eligible primary steel producers that make a minimum capital investment of $100 million in new or expanded productive capacity
Saskatoon is home to the natural resources that feed, fuel and fertilize the world, as well as the innovations that surround these industries.
Business in Saskatoon
Saskatoon’s mix of economic diversity, low business costs and high quality of life make it the perfect place for businesses and people to thrive.