Regional Spotlight: Saskatchewan

Home to 11% of Canada’s water, 60 million acres in farms and 40 million acres in crops, is Canada’s sunniest province – Saskatchewan. Bordered by Manitoba to the east, Alberta to the west, Northwest Territories to the north, and atop U.S. states Montana and North Dakota, Saskatchewan is recognized globally as a major producer of food, fuel (both traditional and renewable), fertilizer and critical minerals. These opportunities, combined with a multitude of attractive business conditions, make Saskatchewan a compelling destination for foreign direct investment (FDI).

 

Foreign Direct Investment (FDI) Attraction

Saskatchewan is a magnet for foreign investment:

• Extensive agricultural and mining opportunity and sectoral expertise; Saskatchewan ranks first in Canada and third globally for mining investment attractiveness.
• It has 43% of Canada’s arable land, and it is a top-global supplier of wheat, durum, oats, dry peas, lentils, canola (seed, oil and meal) and more.
• Wealth of mineral resources including uranium, copper, gold, natural gas, potash, lithium, clay and helium
• Reliable and responsible resource development, with sophisticated production of natural gas, uranium, biofuels, geothermal, wind and hydro power.
• Leadership in carbon capture, utilization and storage (CCUS), Agtech, mining machinery and satellite communications technology.
• Global connectivity courtesy of two international airports, two Class 1 railroads, 13 short-line railroads, 2,400 trucking companies and proximity to the U.S.
• Two world-class universities and a polytechnic offering skill-building programs that align with priority local sectors, workforce growth and labour availability.
• One of Canada’s most competitive costs of living, combined with an exceptional quality of life.

 

“Our network of nine international trade and investment offices, competitive business environment, strong suite of incentives, and low tax and utility rates are just some of the advantages that Saskatchewan has over competing jurisdictions. Our leadership in sustainable agriculture, mining, and energy production, paired with our new Investment Attraction Strategy are creating jobs and opportunities for the people who call our province home.”

Deputy Minister of Trade and Export Development Jodi Banks

 

Saskatchewan also offers leading-edge sustainable resource development opportunities to global investors. The province has some of the best geology in the world for low-emission helium production, with ease of access and the opportunity to extract helium in a nitrogen mix. Additionally, potash from Saskatchewan mines is produced with 50% less emissions than competing jurisdictions.

FDI Impact

FDI has contributed significantly to Saskatchewan’s economy. Between 2013 and 2023, Saskatchewan attracted a total of 93 FDI projects with an estimated associated capital expenditure of ~$10.9 billion. These projects cover a diverse range of sectors, spanning digital industries, life sciences, advanced manufacturing, professional services, media and entertainment, and more. These investments have created more than 4,200 jobs and have helped nurture 12 start-up companies.

 

FDI in Action

BHP Saskatchewan is poised to house one of the world’s largest potash mines (a fertilizer favourable for sustainable farming), courtesy of Australia-based mining company BHP. Their Jansen potash project is located 140 kilometers east of Saskatoon in rural Saskatchewan and has been designed to maximize sustainability. It is anticipated to produce approximately 8.5 million tonnes of potash each year when phase 2 of the project is operational. The project has seen two significant investment announcements to date; stage one, announced in August of 2021, saw an investment of $7.5 billion, and stage two, announced in November 2023, saw an additional investment of $6.4 billion. The resulting work will deliver significant employment opportunities for rural Saskatchewan, including 3,500 peak construction jobs and 900 full-time jobs once both stages are operational.

BHP’s Jansen potash project is committed to a gender-balanced workforce, and to ensuring that their workforce is 20% Indigenous. An estimated two-thirds of employees live in nearby communities. BHP is highly engaged in the local community, having contributed over $50 million to support initiatives, including through Opportunities Agreements with six First Nations communities. Production is expected to begin in late 2026, and it was announced in March of 2024 that BHP has entered non-binding sales agreements for all potash production from both project phases.

The Ministry of Trade Export and Development and the Saskatoon Regional Economic Development Authority (SREDA), played pivotal roles in BHP’s decision to invest in Saskatchewan, alongside additional support from Innovation Saskatchewan and the Government of Saskatchewan (GoS).

Partner Spotlight

The GoS is committed to creating and fostering an economic environment that allows businesses to grow and prosper. The provincial government supports investment attraction (IA) and collaboration with private firms looking to expand operations to Canada; it is committed to sustainability, including pioneering new technologies like CCUS, to reduce and capture greenhouse gas emissions.  

Economic Development Regina Inc. (EDR) is the lead agency for economic development for the Greater Regina Area. EDR works to ensure the Greater Regina Area offers a vibrant and diversified economy for investors, a climate of growth for business and a high quality of life for residents.

 

“IA is a team sport, and having success means having the right people in the right conversations at the right times. IA isn’t just about having something the world needs, it’s about having the skills, knowledge, and partnerships in place to share what we have with the world.” 
Chris Lane, President & CEO, Economic Development Regina

 

SREDA is the economic development organization for the Saskatoon region, which supports the people, potential, and prosperity of Saskatoon and surrounding communities by helping businesses achieve strong, sustainable growth.

 

“SREDA connects global investors with local opportunities by providing market insights, facilitating investment opportunities, and fostering relationships with key stakeholders. By attracting FDI, we drive economic growth, create jobs and inspire innovation, contributing to a thriving Saskatoon regional economy.” 

Erin Lawson, CEO of SREDA

 

About Saskatchewan

One of Canada’s three prairie provinces, Saskatchewan covers an impressive expanse of land – totaling more than 650,000 square kilometers (larger than France!). It is home to a dynamic geography, including developed urban centres (Regina and Saskatoon), millions of acres of forestry and agriculture lands, national and provincial parks, and more than 100,000 lakes. It is home to a strong and growing population of ~1.2 million residents, which has grown an impressive nine per cent since 2014 alone. 

Saskatchewan’s top exports are potash, wheat, canola oil, canola seed, lentils and more. In 2022, Saskatchewan was the world-leading exporter of dry peas, lentils, durum, canola oil, canola meal, canary seed and oats (based on dollar value). The province has a skilled and growing workforce, and it works diligently to develop and uphold social collaboration with First Nations communities, and sustainable mining and agriculture practices.

Invest in Canada works to attract and secure foreign investment to Canada. The organization provides services to investors seeking to expand business operations to Canada, including partner introductions, strategic referrals, incentive summaries, business advisory services, site visits and more.

 

“We are proud to collaborate with Saskatchewan’s diverse economic ecosystem and all levels of government in Saskatchewan to strengthen our investment attraction efforts. Foreign investment has delivered innovation, enhanced sustainability, jobs (in both rural and urban areas) to the region, and we look forward to continuing to find the best to invest in Saskatchewan.”

Invest in Canada CEO, Laurel Broten