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 counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)