“Over the next two years, our government will invest $7.5 billion dollars in ... highways, municipal infrastructure and other important capital projects designed to build a strong Saskatchewan.” – Premier Scott Moe, May 2020
There’s no other way to say it – this is great news for our industry, for our members and for the Saskatchewan economy.
Prior to the COVID-19 pandemic, the provincial economy was already facing headwinds through depressed resource prices, anti-pipeline policies and rail blockades. The announcement will mean a big boost in the arm not only to the construction industry but to the province.
The provincial government heard what industry has been saying and stepped up in a big way.
The road to economic recovery here and across the country starts with our industry. Premier Moe believes that, too. The money being spent now will create a legacy serving the economy for the next 50 years.
The funding represents a $2 billion increase over the government’s existing capital plan. The resulting projects are expected to support 10,000 jobs. More than $300 million of the funds are intended for highway projects, including surface upgrades and passing lanes, with almost $50 million dedicated to upgrades to municipal roads and airports.
Without question, this stimulus funding will balance the need for smaller, short-term projects to spark the economy and get people back to work with longer-term, large-scale projects that leverage multiple sectors over the next several years.
Approximately $1.37 billion of the new funding is committed for large infrastructure projects to be announced in the future.
We’re hopeful this financial support will aid our members who have been struggling and keep them busy for the foreseeable future.
Last month, I encouraged our members to be ready. Now is our time to lead this province and kickstart our economy. Be safe!