Saskatchewan continues to be the hot spot for investment with new capital spending by private and public organizations projected to reach a new record level of $20.2 billion in 2012 according to a new report released by Statistics Canada.
"Saskatchewan is an opportunity rich province with a competitive and innovative economic climate, which makes us a very appealing jurisdiction for investors today," Enterprise Minister Jeremy Harrison said. "Major long-term commitments of this magnitude simply do not happen where there is uncertainty or a lack of return on investments."
This marks the fifth consecutive year that new investment in Saskatchewan exceeds the $14 billion mark. Statistics Canada projects that private sector investment in Saskatchewan will reach $16.8 billion in 2012, an increase of 4.9 per cent over 2011 ($16.0 billion), with the anticipation that the mining and oil and gas extraction sector will see increased investment levels in 2012.
Statistics Canada also made upward revisions of $1.7 billion in 2010 and $2.3 billion in 2011 for Saskatchewan, resulting in investment totals of $17.5 billion (2010) and $19.3 billion (2011).
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