It’s too soon to say Saskatchewan is entering a period of boom years, but the news of recent investments is still very positive for the province’s economy.
That, from USask’s Dean of the Edwards School of business, Dr. Keith Willoughby (willow bee), who says there would need to be more indicators before it could be considered a boom time similar to the one about 12 or 13 years ago.
Some of the larger business investments in the province include the canola crushing plants in Regina, the takeover of Cervus by the Brandt Group and BHP giving the green light to the Jansen potash mine.
Willoughby suggests that after a year-and-a-half dealing with the pandemic and the worst drought in Saskatchewan’s history, the province needs some good news, and these investments will help the province’s economy.
He explains that with these investments there is a multiplier effect.
As an example, BHP will employ thousands of people during the construction phase and then hundreds when the mine is running, which is expected to be in about seven years.
That means more employment opportunities, possibly population growth, more people buying and renting homes, and more people shopping and using services.