Saskatchewan’s construction sector is experiencing a remarkable surge, with the province emerging as a leader in building permit growth across Canada. According to the latest seasonally adjusted figures released on February 12, 2025, by Statistics Canada, the value of building permits in Saskatchewan increased by 59.4% from December 2023 to December 2024, positioning the province as second in year-over-year growth among all provinces.
This strong growth follows a similar trend observed in the previous month’s report, where Saskatchewan was also ranked second for both year-over-year and month-over-month increases in building permit values. This reflects not only a rise in construction activity but also a broader economic expansion within the province. In December 2024 alone, the total value of building permits reached $258 million, covering both residential and non-residential construction projects.
Minister of Trade and Export Development Warren Kaeding attributed this growth to Saskatchewan’s business-friendly environment, which is leading to more investment and economic activity. According to Kaeding, the upward trend in building permits is not just a sign of increasing construction activity; it also signals the creation of new jobs and a boost in opportunities for residents.
The strong performance is also evident at the city level. Regina, the capital, recorded a 50.4% increase in building permit values year-over-year, while Saskatoon saw a 34.2% rise. These figures indicate a broader demand for residential housing, as well as commercial infrastructure, reflecting the dynamic nature of urban growth within the province.
Beyond the construction sector, Saskatchewan’s overall economic performance has been impressive. Statistics Canada’s latest GDP data shows that the province’s 2023 real GDP reached an all-time high of $77.9 billion, marking an increase of $1.8 billion or 2.3%, which is well above the national average of 1.6%. Furthermore, private capital investment is projected to climb to $14.2 billion in 2024, a 14.4% increase from 2023, the highest anticipated growth rate in Canada.
In line with these positive trends, the Government of Saskatchewan recently launched its “Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy.” Saskatchewan aims to provide detailed market insights and streamline the process for investors, reinforcing the province’s reputation as a prime destination for business.
The strategy is built on three pillars (Build, Grow, and Connect) to drive diversification and stability. The province is launching two new critical minerals incentives: a 25% transferable royalty credit for innovation projects and a 15% credit to support processing facility development. A new multi-lateral well program is set to boost sustainable oil and gas production, while key incentives like the Oil and Gas Processing and Saskatchewan Petroleum Innovation Incentives are extended through 2029. Additionally, the Technology Startup Incentive is expanded—doubling its annual tax credit cap from $3.5 million to $7 million—to foster clean tech innovation.
A robust labour market strategy and targeted infrastructure investments further support this vision. Saskatchewan has already experienced nearly 25% growth in private capital investment in 2023, contributing to over $40 billion in new investments in recent years, with a projected 14.4% increase in 2024. With competitive tax rates, streamlined regulations, and a network of nine international offices, the province aims to position itself as a stable, sustainable, and dynamic hub for long-term economic growth.
As public and private investments continue to drive growth, Saskatchewan’s thriving construction sector is poised to play a significant role in the province’s long-term economic success.