Released on September 10, 2024
Today, the province announced a new funding agreement with the Saskatchewan Economic Development Alliance (SEDA) to support rural investment readiness. The province will provide SEDA with $225,000 to enhance investment readiness in rural Saskatchewan.
“Today’s investment by our government will help ensure that rural communities across the province are ready to attract new investment and benefit from Saskatchewan’s rapidly growing economy,” Trade and Export Development Minister Jeremy Harrison said. “Collaboration between government and organizations like SEDA is an important component of Saskatchewan’s investment attraction strategy to secure the next decade of growth in the province. Supporting rural economic development is one of the many ways we are protecting and promoting Saskatchewan and supporting our strong and vibrant communities.”
The funding will be matched by PrairiesCan for a combined total of $450,000 over two years.
“The world is investing in Saskatchewan to meet the needs of a more sustainable global economic future,” Federal Minister for PrairiesCan Dan Vandal said. “This support to SEDA will assist rural regions in Saskatchewan prepare for new investment and new economic opportunities, to build stronger rural communities with good local jobs. Our government recognizes that we cannot have a prosperous Canada without successful, competitive, and thriving rural communities.”
The project will help targeted regions and local businesses to prepare for investment and growth. This work will help protect and promote the province to the benefit of all those who work and live in Saskatchewan.
“This project aligns with SEDA’s mandate to support Saskatchewan’s economic development ecosystem,” SEDA CEO Verona Thibault said. “We look forward to engaging with industry and enhancing investment readiness in rural areas of the province over the next two years.”
Saskatchewan is committed to fostering a competitive business environment where all businesses can succeed. The province will continue to build on this now and into the future, creating more jobs and opportunities for the people who call this province home.
Saskatchewan currently has the lowest rate of inflation according to the Consumer Price Index, at 1.4 per cent. Exports are experiencing significant growth, totaling over $101.9 billion for 2022 and 2023 combined. This is a 52.2 per cent increase from the previous two-year period of 2020-21, which saw $66.9 billion in total exports.
Statistics Canada's latest GDP numbers also indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion, or 1.6 per cent. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
Earlier this year, the province revealed "Securing the Next Decade of Growth: Saskatchewan's Investment Attraction Strategy," in conjunction with the launch of the investSK.ca website. These initiatives are positioned to amplify growth in Saskatchewan, serving as pivotal instruments in driving further development.
To learn more, visit: investSK.ca.
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