A Virtual Growth bar charts Financial Graph On Digital Technology Strategy Background With Finance Data Marketing Chart Analysis Report Or Success Investment
by SHCA SHCA

Investment in Building Construction Investment Soars in Saskatchewan

A Virtual Growth bar charts Financial Graph On Digital Technology Strategy Background With Finance Data Marketing Chart Analysis Report Or Success Investment

New Statistics Canada data shows a 5.7 per cent increase in Saskatchewan’s building construction investment in November 2024 compared to October 2024 (seasonally adjusted). This positions the province as second among all provinces for month-over-month growth in this category. The province also saw an 11.8 per cent increase in year-over-year construction investment from November 2023 to November 2024.

“These figures reflect the ongoing confidence people and businesses have in making long term investments in Saskatchewan as a place to grow and succeed,” Trade and Export Development Minister Warren Kaeding said. “Increased investment in building construction strengthens our communities, supports job creation, and further positions our province as the best place to live, work, and raise a family in the nation.” 

Investment in building construction is calculated based on the total spending value on building construction within the province. The province continues to see economic success across several key indicators. Saskatchewan exports totaled over $102 billion for 2022 and 2023 combined. This is an increase of more than 52 per cent from the previous two-year period, and the highest export numbers in the province’s history. 

Statistics Canada’s latest GDP numbers indicate that Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.77 billion, or 2.3 per cent from 2022. This places Saskatchewan second in the nation for real GDP growth, and above the national average of 1.2 per cent. Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.

Waving Canadian flag against the blue sky.
by SHCA SHCA

Premier Moe Travels to Washington and Mexico to Support Canada U.S. Trade

Waving Canadian flag against the blue sky.

Premier Scott Moe is travelling to Washington D.C. this week for meetings with U.S. elected representatives, industry organizations and to participate in the premier’s Council of the Federation (COF) joint-mission to Washington. 

Prior to the COF mission, Premier Moe will meet with U.S. elected representatives and businesses to emphasize the strong trade relationship between Canada and the U.S, and the role Saskatchewan plays in supplying the continent with energy and food security. 

“It’s important in the current economic environment that we engage with our counterparts in the United States to emphasize the shared benefit of trade between our two countries and turn the conversation toward building on those strengths rather than jeopardizing them with tariffs,” said Moe. 

The U.S. is Saskatchewan’s largest and most important trading partner. About $40 billion worth of imports and exports cross the border every year. The current tariff-free border allows businesses to add value to products and economies, whether flowing from north to south or vice versa. Premier Moe’s meetings will focus on maintaining strong Canada-U.S. relations by addressing shared issues such as the economy, energy, supply chains and the impacts of the Trump Administration’s proposed tariffs. Premier Moe will also express Saskatchewan’s support for strong measures to secure the Canada-U.S. border. 

“Strengthening border security and preventing the flow of illicit drugs like Fentanyl is a concern that has been identified by the U.S. and one that I share,” Moe added. “We are already taking action as a province through our Border Security Plan to ensure we have more officers and law enforcement presence at the Saskatchewan-U.S. border.”

The COF’s joint-mission to Washington will allow all 13 premiers to present a united voice on the important benefits that free-trade brings to Canada and the U.S. and the concern over the negative impact of tariffs to consumers and businesses on both sides of the border. The COF program will take place on Feb. 12 and will include meetings with U.S. elected representatives, business leaders and the Canada American Business Council. 

Following the COF mission, Premier Moe will travel to Mexico to engage with business and elected officials to advance relationships with this key trading partner. Over the course of the next few weeks, Premier Moe and multiple cabinet ministers will be travelling within Canada and beyond to advocate for Saskatchewan’s interests. These engagement efforts will focus on promoting the province as a global supplier of food and energy security, while strengthening Saskatchewan’s relationships with key international trading partners. 

Hands put together to show unity and cooperation
by SHCA SHCA

Canada’s Construction Industry Stands Strong Against U.S. Tariffs

U.S. President Donald Trump has said he will impose a 25 per cent tariff on Canadian goods exported to the U.S. (including aluminum and steel), along with a 10 per cent tariff on energy products, next month.   In kind, the Government of Canada has responded with targeted tariffs, with some products having a direct impact on construction.  

“Canada’s construction industry is disappointed to see the imposition of tariffs,” said Rodrigue Gilbert, president of the Canadian Construction Association (CCA). “We appreciate that the federal government has issued a strong response to President Trump’s senseless tariffs and will hold consultations with industry on further measures.”   

The impacts of this trade conflict will be felt throughout the Canadian economy. These measures are likely to impact not only the ability of construction operators to meet their project requirements, but also the supply chains that the Canadian industries rely on all together. This limits the industry’s ability to combat the housing crisis, slows down its ability to build critical infrastructure, and so much more.   

“This is a time where we need all Canadians to stand up for Canada. This is not the time to sit on our hands – we all have to work together to increase productivity and support Canadian businesses, so that we can all build a stronger Canada and surmount this trade conflict,” said Gilbert. 

As all levels of government consider non-tariff measures to support Canadian businesses and stimulate our economy, the CCA urges all governments to consult with industry so that any and all measures can be targeted, effective and reflect the real needs of the industry.   

CCA will continue to monitor the impact of these economic measures on the construction industry and will work with all levels of government to build a strong foundation for Canada’s future.

Shantel Lipp
by Shantel Lipp Shantel Lipp

U.S. Tariffs: What It Means for Saskatchewan

Shantel Lipp

As we enter 2025, we need to look at the state of infrastructure in our province and our country. In Saskatchewan, we have a record number of residents using our roads. With over 1.2 million people in the province, Saskatchewan roads, highways and bridges are seeing more tires hit the surface than ever before. 

As we know, Saskatchewan is an export province that relies on its infrastructure to get its goods to market. As our exports grow year over year, the demand of having functional infrastructure to move those products to customers across the globe is imperative to our quality of life.  A thriving economy is how we get to build our hospitals and schools. But to do this we must have the resources to fund infrastructure before a single shovel is put into the ground. How we fund and maintain our infrastructure has a direct relationship to how successful our economy will be. 

This year will be a challenging time for many sectors in Canada and the province as the country faces potential punitive action from our largest trading partner, the United States, in the form of tariffs. Governments will have to come to terms on how to best mitigate the impact tariffs will have on our provincial and national economies. 

Building our schools, hospitals and infrastructure will become costlier if the tariffs come to pass. It is time for governments at all levels to think smart when it comes to the priorities of where taxpayers’ money is spent. One of the government’s basic principles is to maintain functioning infrastructure to support its citizens and its economy. When government takes its eye off the ball to focus on pet projects of their liking, the results tend to be catastrophic, as witnessed by the recent Los Angeles fires. 

As we work our way through 2025, our message to governments of all levels is to focus on the core services that maintain a healthy economy, and that starts with proper funding of infrastructure in our cities, province and country.