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December 20, 2022
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January 11, 2023
2023 is here and Saskatoon’s economic prospects look bright! Here are 5 big reasons to feel good heading into the new year.
Inflation has started to level off which means the Bank of Canada will take a breather on interest rate hikes in 2023. Watch for prices to start coming down and interest rates to hold steady after 7 increases last year.
Global prices for potash soared through 2022 and will continue to rise with instability in Belarus, one of the world’s key suppliers. Saskatchewan potash will be in high demand – good news for job seekers, local suppliers and community partners who will see and feel the impact.
Saskatoon City Council has decided that downtown is the location for any new arena district, if it proceeds. Good news for downtown businesses and property owners and a strong signal to potential investors and funders that we have a go-forward plan.
The restart of Cameco’s northern mines, which created roughly 700 jobs, and its acquisition of Westinghouse Electric Company, one of the world’s largest nuclear services businesses, are clear signs that uranium is back in a big way. Good news for local job seekers and suppliers.
In spite of all the challenges facing Saskatoon’s businesses, many remain confident and optimistic heading into 2023. 79% are confident in Saskatoon’s economic outlook and 62% expect their revenue to increase through 2023, a double-digit increase from last year.