Paul Martin's Business Update - November 7th

Paul Martin's Business Update - November 7th

This province’s construction sector appears to be emerging from a bit of a lull.

New construction – whether residential, commercial or institutional – has been a key contributor to the growth of the provincial economy for about a decade now. And while this is an industry that has ebbs and flows, we appear to be coming out of the quieter periods.

StatsCan has just released its compilation of building permit values for September and it is relatively flat. Yes, this is a plateau at a relatively strong level in historical terms but there are plenty of signs that we’re about to break out of the plateau, and are about to enter another period of growth.

With the batch of schools announced last week, there’s the new football stadium in the works along with Regina’s waste water treatment plant. Saskatoon has plans for a bus barn and the commuter bridge project as well as the Children’s Hospital. And there’s another hospital for North Battleford. Each of these projects are worth more than $100 million apiece, a magnitude that will drastically increase the permit values which run in the range of $300 million a month.

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