As a real estate agent in Saskatoon I often get asked the question "What drives the economy in Saskatoon" and I often go off about mining and other sectors that people often don't think about.
Mining and manufacturing play a huge role in Saskatchewan's economy and between the two they contribute over $40 billion to our economy. Saskatoon benefits more than any other region in the province from these 2 sectors and they account for 23 per cent of our yearly GDP. As a Saskatoon REALTOR ® I have met and helped several people with buying houses for sale in Saskatoon who are coming here to work in these sectors.
A little history on uranium mining in Saskatchewan. The province began mining for uranium and potash in the 1950's and 1960's but it is only recently that the success of these ventures has come to the public's attention. Saskatchewan has many decades of both potash and uranium deposits that are yet to be tapped and when it comes to energy and food, we will always need both. The outcome for mining these two is a lot less cynical than oil and gas or precious metals...of which Saskatchewan also has a good supply.
These are a few factors that keep Saskatoon's economy not only stable but also sustainable and expanding. As the mining industry grows and expands so does manufacturing as this is vital to support it. While many of the manufacturing firms in Saskatoon have their roots in supporting mining companies they are now branching out and designing and manufacturing for the Oil Sands, the oil and gas industry, and even getting involved in ship building in Halifax and Vancouver.
SREDA, the Saskatoon Regional Economic Development Authority, has a firm commitment to help the mining and manufacturing sectors stay on pace to not just meet demand but to also explore new areas to grow and develop. Instead of exporting business why not grow it locally? SREDA has been tirelessly promoting the city as a great place to work and do business but also to invest in and to have more skilled trades. They have travelled the world to recruit new ideas and people.
The efforts are paying off and there are a number of new ventures set to take place in the next 20 years including expansions to existing sites and exploration for new ones. Saska-boom!
If you are thinking about buying a house for sale in Saskatoon contact me, your Trusted and experienced Saskatoon REALTOR ®.
Century 21 Fusion
Saskatoon Real Estate Agent