This is economic development week in Saskatchewan.
The recognition has been marked by a major conference focused on the success of province’s primary economic drivers but it also brought news that a long-time retailer – Hudson’s Bay – will not be renewing its Regina lease next year.
These two events highlight the underlying story of our economy – adaptation. Growth in the primary sectors coupled with a significant push towards value-added processing is pushing the economy to record levels but those who have had trouble adjusting – such as big retailers – their story has a theme of decline.
But make no mistake. The wins have significantly outnumbered the losses.
Saskatchewan’s GDP hit a record high last year at just under $80 billion. And we are among the top two or three provinces in terms of growth as our asset base – Food, Fuel and Fertilizer – align with a growing global population with the purchasing power to secure a diet richer in protein as our farm community continues to innovate to keep us in a lead position.
