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Saskatchewan second in nation for construction investment

DCN-JOC News Services
Saskatchewan second in nation for construction investment

REGINA — New Statistics Canada data indicates Saskatchewan ranks second year-over-year and month-over-month in terms of growth in investment in building construction for October 2023 on a seasonally-adjusted basis.

Investment in building construction was up 24.7 per cent in October 2023 compared to October 2022, outpacing the national average of -5.5 per cent. The numbers were also up 9.5 per cent month over month from September 2023 to October 2023, a Government of Saskatchewan release said.

“Saskatchewan’s economy continues to thrive, as shown by the current surge in building construction investment,” Trade and Export Development Minister Jeremy Harrison said in a statement. “Our stable business environment, competitive incentives, and personalized support continue to provide opportunities for the investors, companies and communities that contribute to the success of our province.”

In total, $493 million was invested in building construction in October 2023, the release stated, noting $450 million had been invested in building construction in September 2023 and that urban housing starts in Saskatchewan were up 108.2 per cent in November 2023, when compared to November 2022 (unadjusted).

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