Saskatchewan’s manufacturing sales saw a strong increase at the beginning of the summer, with the province ranking first in month-to-month percentage change. Manufacturing sales in Saskatchewan increased by 4.3 per cent in June 2016, compared to May 2016. This amount earned it a top spot among the provinces.
Food, chemicals wood products and machinery manufacturing were the specific sectors that saw increases.
In June 2016, manufacturing sales were up 2.9 per cent from June 2015. This ranked second in percentage growth among the provinces. This increase meant manufacturing sales reached a value of $1.2 billion that month.
“The mark of a diversified economy is one that shows growth and activity in sectors unrelated to other industries,” said Economy Minister Bill Boyd. “Our manufacturers continue to do what they do best, and our commitment to maintaining a competitive, business-friendly operating environment still sets Saskatchewan apart from other jurisdictions.”
In Saskatchewan, manufacturers have access to a number of advantages, such as a corporate income tax rate as low as 10 per cent (depending on what kind of operation the business is running), no corporate capital tax, a five per cent refundable tax credit for investment in equipment and facilities and the ability to use 100 per cent of research and development expenses against net income, when calculating federal tax credits.
In 2015, Saskatchewan’s manufacturing sector saw $14.1 billion in total sales.
