Construction Investment Reaches New Heights
Latest Building Permit Numbers put Saskatchewan First in the Nation for Growth
According to data released today by Statistics Canada, building permits in Saskatchewan totaled $235 million in February 2024 (seasonally adjusted). This marks a 96.2 per cent increase from January 2024, which is the highest increase among the provinces. The province also showed significant year-over-year growth in this category, with an increase of 22.6 per cent, compared to February 2023.
“The rising value of building permits means real jobs and real opportunities for Saskatchewan businesses and workers,” Trade and Export Development Minister Jeremy Harrison said. “Investors are seeking out Saskatchewan because of our stable business environment, competitive incentives and personalized support that make doing business easy. By strengthening our economy, we are continuing to build our communities, while providing more opportunities to the people of Saskatchewan.”
The growth in the value of building permits in the province follows recent news that Saskatchewan’s population grew by more than 30,000 in 2023, to an all-time high of 1,225,493. That’s the largest population increase in a single year since 1914. The latest Statistics Canada data also shows Saskatchewan added nearly 10,000 new jobs over the last year.
The Government of Saskatchewan recently unveiled its new Securing the Next Decade of Growth: Saskatchewan’s Investment Attraction Strategy. This strategy, combined with a new trade and invest website called investSK.ca, aims to solidify the province’s standing as the best place to do business in Canada.
Building permits are the dollar value of construction permits for residential and non-residential buildings.
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