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| . | Saskatoon Profile
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| Internationally recognized as a leader in the Ag
Biotech industry with 30% of the national industry.
#2 ranking in cost competitiveness by KPMG in Midwest North America for Biomedical R&D and Biotechnology, Clinical Trials and Product Testing.
Home to the most advanced bio-processing centres in Canada, as well as the Canadian Light Source synchrotron, one of the largest science projects in Canada in 30 years.
The diversified economy in Saskatoon shows particular strength in these clusters:
Agricultural Biotechnology & Bio-products - Saskatoon is internationally recognized as a leader in the agricultural biotechnology industry with 30% of the national industry located in Saskatoon.
Advanced Manufacturing & Machinery - 35.2 % of the employment in manufacturing across the province of Saskatchewan is located in Saskatoon.
Food Processing & Nutraceuticals - Saskatoon ranks 4th as the most competitive city in North America and 6th in the entire world in the food processing sector.
Information Technology & Electronics - Saskatoon ranks #1 as the most cost competitive city in Midwest North America for electronic system development and testing.
Mining & Mining Supply - Oil and gas royalty structures are the most competitive in Canada. Headquartered mining companies include the world’s largest producers of potash & uranium.
Health Science – The University of Saskatchewan is the only Canadian university to house six life science colleges including Agriculture, Dentistry, Medicine, Nursing, Pharmacy & Nutrition, and Veterinary Medicine, as well as a major teaching hospital on the same campus. |
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| The growth forecast for Saskatoon is predicted to be 4.2 per cent in real gross domestic product (GDP) in 2005, according to the Conference Board of Canada’s Metropolitan Outlook-Summer 2005 report. This is an increase from a solid gain of 3.7 per cent in GDP growth last year. Of the cities measured in this report, Saskatoon ranks number one, leading Canadian cities in economic growth in 2005, “Saskatoon’s economy has remained consistently solid and the Conference Board of Canada’s forecasts for 2005 shows Saskatoon as a Canadian leader in economic growth,” said Ted Mitchell, Chief Executive Officer, SREDA. According to Mario Lefebvre, Director of the Conference Board’s Metropolitan Outlook Service, “the Saskatoon economy is on a roll. The city’s economy has been a model of consistency, with employment growth averaging 1.8 per cent per year over the past 12 years. The forecast predicts that employment growth will be even stronger in 2005, coming in at 3.5 per cent.” The unemployment rate is expected to fall to 5.4 per cent from 6.2 per cent in 2004. According to the Conference Board’s report, job growth was stable last year, increasing by 1.3 per cent or 1,500 net new positions. The manufacturing sector is expected to continue to expand by 8.1 per cent in 2005 following growth in this sector by 20.7 per cent in 2004. The Conference Board report gave Saskatoon an economic structure rating of 0.93. Economic Structure is a measurement of economic diversity, indicating that Saskatoon is one of the most diverse cities in Canada. The diversified regional economy has strength in biotechnology, food processing, life , manufacturing, mining, technology, warehousing and transportation sectors, and sciences including the Canadian Light Source (CLS) synchrotron - Canada's largest science project in over three decades. |
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