FUTUREnomics: Airships

Published June 14, 2019

Similar to a blimp, airships are an aircraft that is kept buoyant by a body of gas that is lighter than air, and this could be the future of transport to Northern Saskatchewan.

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FUTUREnomics: Organic Waste

Published March 5, 2019

To think if it simply, organic waste is anything that comes from a plant or animal that is biodegradable. In Saskatoon, 58% of the average household’s garbage is filled with organic waste.

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FUTUREnomics: Remote Employees

Published February 6, 2019

While freelance work is on the rise, many employers are opting to move their full-time employees out of the office and into their respective home offices; a move that has shown benefits for both the employers and employees.

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Need to Know: Geothermal Energy

Published January 30, 2019

Have you ever sat in a hot spring? If so, you’ve experienced geothermal energy! There are two main advantages to using this as a power source: it’s clean and it’s always available. Here’s what this power source could mean for Saskatchewan.

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Modest economic forecast fueled by strengthening potash, agriculture sectors

Published January 24, 2019

A modest uptick in forecasted GDP and a slight decrease in the unemployment rate for 2019 were two highlights from the Saskatoon Regional Economic Development Authority’s (SREDA) 2019 Economic Outlook Summary for Saskatchewan.

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Need to Know: Cannabis Legalization

Published January 4, 2019

While it’s a bit early to talk about what the local impact of cannabis legalization (which took place in October of 2018), here are some facts about the effects it had on Colorado’s economy a year after cannabis became legal in 2014.

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Need to Know: the Economics of Ride Sharing

Published December 19, 2018

With Saskatoon City Council voting to approving ride sharing services this month, here’s what you need to know about the dollars and cents behind this emerging industry.

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FUTUREnomics: Asteroid Mining

Published December 12, 2018

Asteroid mining may seem like a pie in the sky idea, but it may become a reality within the next 10-20 years. Take a look at why you should be paying attention to this futuristic industry and it’s potential effects on the local economy.

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Need to Know: The G20’s impact on Saskatchewan

Published December 4, 2018

SREDA attended the 2018 Fall Economic Update by the Conference Board of Canada this past Friday, and found it to be a good reminder that it is important to keep an eye on events happening outside of our province as it affects our future growth.

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Need to Know: Renewable Energy in Saskatchewan

Published November 29, 2018

The provincial government wants half of the power used across the province to come from renewable sources by 2030. Here’s what you need to know about renewable energy in Saskatchewan.

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Saskatchewan’s economic growth restraint caused by recent uncertainties in the mining sector

Published July 31, 2018

SREDA’s Q3 Consensus Forecast Survey shows economists have slightly trimmed their outlook for the Saskatchewan economy this year, but expect growth to normalize in 2019. Real GDP growth is now forecast to come in at 1.8% (0.2 percentage point lower than projected in March), before climbing to top spot (2.1%) in 2019 for the province.

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Need to Know: Modest erosion in Saskatoon housing affordability in line with other major CMAs

Published July 5, 2018

Despite higher interest rates, housing affordability is still not an issue in Saskatoon. The aggregate affordability index rose 0.7 percentage points to 33.7% in Q1-2018, just above the long term average (33.3%). The Saskatoon index has been stuck at neutral levels for the past three years. The Q! increase only represents a slight erosion in affordability, not much different from its 33-year average.

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Need to Know: Sask’s economy grew 2.9% last year, 5th among the provinces

Published May 4, 2018

Saskatchewan’s economy grew 2.9% in 2017, following a 0.4% decline in 2016. The rebound was powered by the goods-producing sector.

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Need to Know: Saskatoon CMA Housing Market Moderately Vulnerable

Published April 30, 2018

The Canada Mortgage and Housing Corporation (CMHC) released its Q2-2018 Housing Market Assessment, rating Saskatoon as having a moderate degree of vulnerability for the second consecutive quarter due to evidence of overbuilding.

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Saskatchewan’s Economy Expected to Build Momentum in 2018

Published January 4, 2018

The survey concludes the provincial economy is expected to build momentum in 2018 with many leading economists upgrading their growth prospects for the Saskatchewan economy. Based on the survey real GDP growth is forecasted at 2.1 percent for 2018 after an estimated 2.0 percent rebound last year, and an increase of 1.9 percent for 2019. This will bump up Saskatchewan to fourth position on the provincial economic growth leader-board for 2018, and second strongest growth next year. This is a significant improvement from last year where Saskatchewan was ranked seventh.

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Need to Know: Saskatoon CMA Housing Market Outlook

Published October 31, 2017

The Canada Mortgage and Housing Corporation (CMHC) released its 2017 Fall Housing Market Outlook for Saskatoon CMA, projecting modest gains in new and resale housing markets and gradual decline in rental vacancy rate over the next two years.

Job growth and improving consumer sentiment are expected to slightly increase sales in the coming years, reduce the unabsorbed inventory from the prior year and support modest advances in home construction.

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Powering Up Saskatoon’s Tech Sector

Published September 12, 2017

Technology is one of the most rapidly progressing aspects of our modern world. Over the past decade, substantial advances have been made in areas such as automation and artificial intelligence. With each new advancement technology becomes a bigger part of all our lives; no matter who you are or what you do, technology has an impact. As a result, the technology industry is booming and predicted to experience continued growth into the future. This evolving industry presents an opportunity for communities like Saskatoon to expand their economic concentration and develop a larger and more diverse technology sector.

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Need to Know: Sin Taxes

Published August 31, 2017

Sin taxes have existed as a form of corrective social policy since the mid-21st century, but have just recently been applied to sugary drinks. Britain has introduced legislation that will set levies on unhealthy sugary drinks in the next two years, and the Canadian Federal Government has considered adopting similar programs in the past.

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Need to Know: Growth in Saskatchewan retail sales decelerates

Published August 24, 2017

Latest data from Statistics Canada show Saskatchewan retail sales struggling to maintain traction as building and garden centre sales take a big fall. Total retail sales was barely changed at $1.6 billion in June after retreating from its positive trajectory in April (Chart 1). Compared to a year ago, sales were up a modest 1.0% (seasonally adjusted) and ranks ninth lowest among the provinces.

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Need to Know: Prompt Payment Legislation

Published August 9, 2017

Saskatchewan’s construction industry is currently advocating for the development of prompt payment legislation to remedy increasingly long wait times for payment on completed projects. Currently, payment terms can extend beyond 90 days, which places significant pressure on small and medium sized firms that are cash flow sensitive.

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Need to Know: NAFTA Renegotiations

Published May 30, 2017

On May 18th, Donald Trump notified Congress of his intent to renegotiate the North America Free Trade Agreement, triggering a 90 day consultation period before official renegotiation can begin. The agreement between Canada, Mexico, and the United States created the world’s largest free trade area when it was implemented on January 1st of 1994. Changes to NAFTA could have significant impacts on many companies engaged in cross-border business within North America.

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Need to Know: Latest Saskatoon GDP and Employment Figures Forecast Modest Growth

Published May 26, 2017

Like We’ve Been Saying; Saskatoon Economy Continues to Show Signs of Growth – Latest GDP and Employment Figures Forecast Modest Growth.

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Need to Know: Innovation Supercluster Funding

Published May 25, 2017

Latest GDP and Employment Figures_May26Beginning this year, the Federal Government will contribute to establishing superclusters by providing up to $250 million in funding to individual supercluster applications with the greatest potential to accelerate Canada’s economic growth. The funding program is focused on innovative industries, including agri-food, advanced manufacturing, clean technology, digital technology, health and bio-sciences, clean resources, infrastructure, and transportation. With infrastructure in place and a variety of highly innovative organizations already established, a supercluster funding grant would help to continue strengthening our existing world-class cluster.

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Need to Know: Federal Carbon Pricing

Published May 23, 2017

The Federal Government has announced that, beginning in 2018, there will be a minimum price for carbon emissions in Canada of $10/tonne. The price will rise by $10/year to $50/tonne by 2022. Provinces have the option of implementing and administering the program themselves. If provinces do not develop their own program, the Federal Government will administer one on their behalf. Last week, the Ministry of Environment released details on what exactly this federally-imposed plan will look like.

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Need to Know: Canadian Infrastructure Bank

Published February 21, 2017

The Question: What is the Canadian Infrastructure Bank and why is it important to the economy?

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Saskatoon Region Economy Survey

Published February 7, 2017

SREDA surveyed the Saskatoon Region business community to gauge their level of confidence in the regional economy. The survey was sent to over 4,000 local business community members using SREDA’s daily Economic Newsflash. The response rate was 1.9%.

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Sitting Idle: An Estimate of the Lost Labour Productivity Costs to Businesses in the Saskatoon Region Due to Train Traffic Delays

Published November 17, 2016

This report provides an estimate of lost labour productivity to businesses within the Saskatoon Region as a result of traffi c delays at nine rail crossings within the city of Saskatoon. Results of the data analyzed estimates businesses in the Saskatoon Region lose 209 hours of production per working day, or 52,668 hours per year. This translates into a production loss of $10,068 per working day or $2.5 million lost in GDP to the Saskatoon Region economy per year.

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City of Bridges: First Nations and Métis Economic Development in the Saskatoon Region

Published June 20, 2016

This report examines the economic impact of the education gap as well as the economic nature, impact and potential of First Nations and Métis economic development. A particular focus was put on urban reserves and Aboriginal-owned economic development corporations in the Saskatoon Region.

The report was commissioned by the Saskatoon Aboriginal Employment Partnership (SAEP), a committee comprising of numerous stakeholders including Aboriginal training and education institutes, industry, the City of Saskatoon and the Saskatoon Regional Intersectoral Committee. SAEP was formed to support greater employment opportunities for Aboriginal citizens in the Saskatoon Region. The report was developed and researched in cooperation with the Saskatchewan First Nations Economic Development Network (SFNEDN). Heather Exner-Pirot of the University of Saskatchewan who is also a member of the SFNEDN Board of Directors acted as the Research Lead. SREDA is the host organization of SAEP and oversees delivery of the program.

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Saskatoon Region Economic Diversity Report

Published February 10, 2016

Although the term, ‘diversified economy’ is commonly used when referring to the Saskatoon Region, rarely is it clearly defined or measured. SREDA has taken an in-depth look at what it means to be a diversified economy, and has measured this diversification through the use of regional economic indicators including employment and GDP. As a second step in this analysis, SREDA has used the results of these calculations and compared them to other Canadian cities.

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For current economic data including GDP, employment, housing, sector overviews and more, visit the Economic Indicators section.

For current statistics including demographics, companies, real estate and more, visit the Saskatoon Statistics or Regional Statistics section.

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