Released on November 29, 2016
The Government of Saskatchewan today proclaimed November 28 to December 2, 2016, as Manufacturing Week in Saskatchewan.The week, celebrated annually in the province, provides the opportunity to highlight the economic significance of the manufacturing sector to Saskatchewan, and to showcase the successes achieved by businesses and communities.
“Saskatchewan’s manufacturing sector is a major part of our diversified economy that is deserving of being recognized this week,” Economy Minister Jeremy Harrison said. “Our attractive business environment, high quality resources and innovation shown by manufacturers have helped our province’s manufacturing sector grow significantly over the past decade.”
Saskatchewan’s manufacturing shipments increased by 46 per cent from 2005 to 2015. In 2015 manufacturing shipments totalled $14.1 billion. More than 25,000 people work in the sector, which makes up seven per cent of the province’s Gross Domestic Product. In addition, manufacturing sales grew by 8.2 per cent between September 2015 and 2016, six times above the national average, and reflecting growth in the food, machinery and wood products industries.
Incentives offered by the Government of Saskatchewan to the manufacturing sector include:
- Corporate income tax as low as 10 per cent on manufacturing and processing exporter and processing profits;
- Manufacturing and processing exporter hiring tax incentives; and
- Provincial tax exemptions on machinery, equipment and materials used in the manufacturing process.
To learn more about manufacturing in Saskatchewan, visit www.saskatchewan.ca/business/invest-and-economic-development/key-economic-sectors/manufacturing.
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For more information, contact:
Deb Young
Economy
Regina
Phone: 306-787-6315
Email: deb.young@gov.sk.ca