Canada’s Best Places for Business 2016

Saskatoon, Sask.

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Population: 306,794
Annualized population growth (%) 2.58
Avg. household income ($): 101,628
Total value of building permits issued, most recent year ($): 1,017,142,000
Avg. office lease rate ($ psf/yr): 28.64
Corporate income tax rate (%): 27.0
City website: www.saskatoon.ca

Market

Pop. within 1 hr commuting distance: 325,722
Adults who have completed apprenticeship, trades certificate or diploma (%): 10.03
Adults who have completed university degree (%): 26.14
Adults who have completed bachelor''s degree (%): 69.08
Unemployment rate, most recent month (%): 6.76

Costs

Avg. home price ($): 411,270
Avg. retail lease rate ($ psf/yr): 28.22
Avg. industrial lease rate ($psf/yr): 14.49
Avg. general lease rate ($psf/yr): 22.40
Peak electricity cost for businesses ($/kWh) N/A
Peak electricity cost for mid-size commercial business ($/kWh): 0.0749
Peak electricity cost for mid-size industrial business ($/kWh): 0.0749

Taxes & Regulation

Business license cost ($): $50 to $199
Avg. processing time for building permit, most recent calendar year: Less than 2 weeks
Non-residential property tax rate (% of assessed value): 1.845300
Commercial property tax rate (% of assessed value): N/A
Industrial property tax rate (% of assessed value): N/A
Small business income tax rate, if different (%): 12.5
Sales tax (%): 10
Special regulations or zoning: Saskatoon has a municipal affordable housing program, with density bonuses provided in the zoning bylaw, and a long-range plan to grow to 500,000 people as part of a regional plan currently being developed. It provides downtown development and vacant lot development incentives, and maintains an inventory of strategically located retail, commercial and industrial land, working with five business improvement districts

Other

Largest employers: Saskatoon Health Region; University of Saskatchewan; City of Saskatoon
Leading industries: Manufacturing; Agriculture; Natural Resources
Value of capital projects >$5 million planned or under construction ($ million): 976,000,000
Special amenities: Saskatoon’s Wanuskewin Heritage Park is in the process of applying for a UNESCO World Heritage designation. The city has recently opened Remai Modern, a new contemporary art gallery. Annual events include the SaskTel Jazz Festival, the PotashCorp Fringe Festival and Shakespeare on the Saskatchewan.
Special economic development initiatives: The Saskatchewan Aboriginal Employment Partnership promotes First Nations economic development. The city hosts the Mining Technology EXPLORE Program, which supports the mining industry.