Saskatoon Projected to Lead Canada in Economic Growth Again in 2012

Saskatoon's GDP growth is forecast to lead the nation again at 3.6 per cent in 2012, says the Conference Board of Canada in its spring metropolitan outlook.

The just released projection puts Saskatoon on top in 2012 with gross domestic product growth of 3.6 per cent, followed by Calgary at 3.5 per cent and Edmonton at 3.2 per cent.

"Saskatoon has been red hot," said Conference Board senior economist Rob Wiebe. "It's no surprise as Saskatchewan's economy has been boosted by resource extraction and a fair agriculture picture," he said. "There's a lot of demand for food and things that produce food, like potash. Then there is the Bakken (oil) play down south and people are starting to re-examine nuclear, and Saskatchewan has uranium." Saskatchewan's mining sector continues to forge ahead, with expansion of 5.8 per cent and 7.7 per cent forecast this year and next.

The economic boom has also fuelled a population explosion.

Statistics Canada's latest projection puts Saskatoon's metropolitan population at 270,000, up 10,000 from the 2011 census.

Mayor Don Atchison said the city continues to expand at a rapid pace driven by a growing demand for "food, fuel and fertilizer."