Regional News | November 25, 2024

Saskatoon Region: Driving Saskatchewan’s Growth

  1. Economic Powerhouse (2024):
    • The Saskatoon Region is forecasted to generate 32.6% of Saskatchewan’s total GDP, contributing $25.6 billion, despite representing just 30.2% of the province’s population. This positions Saskatoon as a key economic engine for the province.
  2. Business Environment (2023):
    • With 26.1% of all companies in Saskatchewan based in the Saskatoon Region, the area demonstrates a vibrant and competitive business environment that attracts and supports a broad range of industries.
  3. Export Strength (2023):
    • The Saskatoon Region is responsible for an impressive 31.5% of Saskatchewan’s total exports, underscoring its critical role as a hub for trade and economic activity, and its ability to compete on the global stage.
  4. Investment in Building Construction (2023):
    • Residential Construction: The Saskatoon Region accounts for a staggering 69.5% of all residential building investments in the province, indicating a booming housing market that continues to grow.
    • Non-Residential Construction: The Region also leads with 59.8% of non-residential construction investments, showcasing its robust growth in commercial and industrial infrastructure.
  5. Labour Force and Employment (2024):
    • 34.1% of Saskatchewan’s total labour force is concentrated in the Saskatoon Region, with a higher participation rate of 71.7% compared to the province’s 67.3%, reflecting a more active and engaged workforce.
    • The Region’s employment growth rate of 4.6% outpaces the provincial average of 3.3%, highlighting Saskatoon’s dynamic and expanding job market.
  6. Housing Starts and Demographics (2023):
    • The Saskatoon Region leads with 57.2% of all housing starts in Saskatchewan, reflecting significant demand for new housing and continued population growth.
    • With a younger median age of 36.8 compared to the provincial average of 38.4, the region stands out as a vibrant destination that attracts younger families and professionals.
  7. Income Advantage (2022):
    • Residents in the Saskatoon Region enjoy a median household income of $108,460, well above the provincial average of $100,780, underscoring the region’s ability to foster higher incomes and an elevated quality of life for its residents.