Southeast looks to grow as province posts superb private investment growth in 2024 – DiscoverEstevan.com

Saskatchewan is celebrating some good numbers for private investment after the provincial government revealed those early this morning.

In their release, the province says that Saskatchewan led all provinces in private capital investment growth in 2024, with an increase of 17.3 per cent over 2023.

“Attracting new investment and growing our existing businesses continues to be a key priority for our government and these numbers demonstrate our province is the best place to invest in Canada,” Trade and Export Development Minister Warren Kaeding said.

“Our investment attraction strategy is our roadmap to achieving our Growth Plan target by building a competitive business environment, low tax and utility rates, a transparent and predictable regulatory environment, a strong suite of incentives and a network of nine international offices that connect Saskatchewan to the world.”

There is also some excitement in the southeast as investment is coming to town, with Estevan Chamber of Commerce Executive Director Merissa Scarlett saying investments are looking at the area’s minerals.

“I think we’re seeing it in the southeast in the diversifying of some of our energy sector. I was thinking about this and when I look at the province’s strategy on leading investment growth, it is that expansion of those critical minerals like lithium, helium and all that.”

“We have companies in here that are exploring lithium, which is huge, so that is a part of us attracting investment to our area, is how do we use some of these other minerals that come with energy where we live, to attract more things like maybe a battery producer down the line. So yeah, I think we’re seeing the foundation of potential investment attachment attraction to come.”

Scarlett says that the southeast is seeing a bit of success in enticing investment in technologies thanks to a local initiative.

“This would be a plug for having the Southeast tech hub in our area. They have been critical in looking at how we diversify our economy, and then how do we make our area more attractive to businesses. Having the Saskatchewan partnerships, SEP is another one where you have our municipalities looking to band together to work collaboratively, along with the city of Estevan, to try to explore alternative investments in our area.”

Scarlett says that having a specific economic plan for the area is one sector that the chamber is currently working on.

“Something that the Chamber has been looking at is an economic development plan specifically for the city of Estevan and region. We need a vision and a goal to guide us in what we’re trying to attract and how we are going to achieve that in the next five years.”

“So I would like to see a plan put forth on economic development specifically and investment attraction and something that, potentially, if a business is looking at our area that it’s a tool that we can use to be like, ‘well, here’s everything that’s in assessment offer and here’s how we can help.'”