This week has been proclaimed Saskatchewan Manufacturing week by the provincial government.
Last year, Saskatchewan’s manufacturing industry had 16.3 billion dollars in sales and provided 5.5 billion dollars in total exports.
The manufacturing sector represents 5.6 percent of the provincial gross domestic product.
For every dollar invested in manufacturing, an economic spin-off of 3 times is generated in the provincial economy.
Saskatchewan’s manufacturing sector employed almost 31 thousand people last year, a jump of 9.3 percent from the previous year and the biggest jump among provinces.
In the same year, Saskatchewan ranked second for capital investment growth and second highest in manufacturing productivity.
In the last 10 years, economic growth has gone from 4.3 billion dollars in 2009 to 4.6 billion dollars in 2019.
Saskatchewan is a key piece of Canada’s agricultural manufacturing industry, exporting over 240 million dollars worth of product each year.
Saskatchewan’s growth plan includes a goal to increase the value of Saskatchewan’s manufacturing exports by 50 percent by the year 2030.
Incentives, competitive tax rates and expanding markets are part of the growth plan.
During the covid-19 pandemic, over 25 companies in Saskatchewan’s manufacturing sector pivoted to produce medical supplies or personal protection equipment for local businesses, the provincial school system and the health care industry in North America.
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