March 13, 2025 (press release) –
Province's Strong Year-Over-Year Growth Ranks Third Among the Provinces
Today, Statistics Canada released data showing continued growth in the value of building permits issued in Saskatchewan, which had a 78.7 per cent increase from January 2024 compared to January 2025 (seasonally adjusted). This places Saskatchewan third among the provinces for year-over-year growth.
In January 2024, the value of building permits issued in Saskatchewan totaled $219 million (seasonally adjusted).
Over the last few months, Saskatchewan has consistently ranked among the top 3 provinces for growth in the value of building permits.
"This continued growth in building permits shows just how confident investors are in making long term investments and developing new projects in Saskatchewan," Trade and Export Development Minister Warren Kaeding said. "New building permits being issued means more jobs for our growing workforce and more people choosing to settle and build their lives across our great province."
Saskatchewan's largest cities both saw unprecedented year-over-year growth, with Regina seeing a 54.9 per cent increase and Saskatoon seeing a 189 per cent increase respectively.
The total value of building permits represents the dollar value of construction permits for residential and non-residential buildings.
Statistics Canada's latest GDP numbers indicate that Saskatchewan's 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.8 billion, or 2.3 per cent. This ties Saskatchewan for second in the nation for real GDP growth, and above the national average of 1.6 per cent.
Private capital investment in Saskatchewan increased last year by 17.3 per cent to $14.7 billion, ranking first among provinces for growth. Private capital investment is projected to reach $16.2 billion in 2025, an increase of 10.1 per cent over 2024. This is the second highest anticipated percentage increase among the provinces.
The province has released 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.
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