Economy
The economy of Saskatoon has been associated with potash, oil and agriculture (specifically wheat), resulting in the moniker "POW City". Various grains, livestock, oil and gas, potash, uranium, gold, diamond, coal and their spin off industries fuel the economy. The world's largest publicly traded uranium company, Cameco, and the world's largest potash producer, PotashCorp, have corporate headquarters in Saskatoon. Nearly two-thirds of the world's recoverable potash reserves are located in the Saskatoon region. Innovation Place founded in 1980 brings together almost 150 agriculture, information technology, and environmental, life sciences and agricultural biotechnology industries in a science park or technology park setting. Saskatoon is also home to the Canadian Light Source, Canada's national synchrotron facility.
Another of Saskatoon's nicknames, "Hub City", refers its ideal central location for distribution and logistics. Saskatoon John G. Diefenbaker International Airport with 105,620 aircraft movements in 2008 was listed as the 19th busiest airport in Canada.
Saskatoon is developing the South Central Business District, or block 146, which is called the River Landing Project. Long range planning is underway for an expected population of 325,000 by 2028 (2011 MXD report).
Saskatoon is expected to see a 4.2 percent growth in gross domestic product for the year 2012. The city saw a 3.4% growth in 2004, 5.1% increase in 2005 and a 2.8% increase in 2006. Saskatoon held Canada's No. 1 economic growth spot for Canada in 2005 according to the Conference Board of Canada. The Conference Board again predicted the city would rate first for economic increase in 2012, showing a growth rate of 4.2%. The Saskatoon Regional Economic Development Authority (SREDA) has also been ranked amongst Canada's top ten economic development organizations by Site Selection magazine.
Pike Lake and Blackstrap Provincial Parks are 40 km (25 mi) south of the city. Blackstrap Park is often used for school field trips. Batoche is located 90 km (56 mi) north of the city.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)