Saskatchewan leads Canada in building construction growth

Saskatchewan’s construction sector is booming, with the province leading the nation in year-over-year growth in building construction investment, according to new data from Statistics Canada.

The latest figures show a 30.0% increase in building construction investment in Saskatchewan in December 2024 compared to the same month in 2023, making it the top province in the country for annual growth in this category. Additionally, the province saw a 9.4% rise from November to December 2024, ranking second in month-over-month growth.

"The increased activity we are seeing across our construction sector is a testament to the confidence individuals and businesses have in our province's strong and stable economy," said Trade and Export Development Minister Warren Kaeding. 

"Every new project contributes not only to job growth and infrastructure development, but further bolsters Saskatchewan's economy. These investments lead to direct benefits for Saskatchewan's communities, now and into the future."

Building construction investment measures the total spending value on construction projects within the province, and the latest data points to a strong economic outlook for Saskatchewan.

Beyond the construction boom, the province’s economy continues to show robust growth. Statistics Canada reports that Saskatchewan’s real GDP reached a record high of $77.9 billion in 2023, marking a 2.3% increase over the previous year. This growth places Saskatchewan second in the country and above the national average of 1.6%.

Private capital investment is also on the rise, with projections showing a 14.4% increase in 2024, reaching $14.2 billion—the highest anticipated percentage increase in Canada.

The Government of Saskatchewan is actively working to attract further investment. Last year, it introduced the Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy, alongside its trade and investment platform, InvestSK.ca. These initiatives aim to solidify Saskatchewan as the best place to do business in Canada.

With continued investment and a strong economic outlook, Saskatchewan is positioning itself as a leader in both construction and business growth, setting the stage for long-term prosperity.