Report from the Legislature October 18, 2018 (Part 1)

Oct 18, 2018

The private sector in Saskatchewan is creating even more new and diverse job opportunities, according to the latest labour force figures from Stats Canada. Employment increased by 3,300 jobs from a year ago, largely driven by private sector growth.

Our government has been working to steadily increase jobs, strengthen the labour force, and attract more skilled workers to the province. Success in attracting more skilled workers shows that Saskatchewan continues to be a great place to live, work, and invest.

Small businesses continue to be major players in Saskatchewan, helping to keep our economy dynamic and competitive. Through innovation and a commitment to their communities, they offer goods and services that advance and enhance our quality of life.

The Government of Saskatchewan continues to invest in initiatives, services and programs that support small business.

Some of these include:

  • The Saskatchewan Commercial Innovation Incentive, the first “patent box” style incentive of its kind in North America;
  • The Saskatchewan Technology Start-Up Incentive, which offers a 45 per cent non-refundable tax credit for individual and corporate equity investments in eligible technology start-up businesses;
  • The Product2Market: Value Added incentive which helps support small-and-medium-sized agri-businesses, from product development through to marketing activities;
  • The Canada-Saskatchewan Job Grant, an employer-driven program which helps employers train new or existing workers to meet their specific workforce needs;
  • A small business income tax rate, at two per cent, for Canadian-controlled private corporations. The rate applies to the first $600,000 of business income and is among the lowest in the country;
  • A highly competitive tax structure which includes tax credits for research and development, as well as for manufacturing and processing equipment expenditures;
  • The proclamation of the Regulatory Modernization and Accountability Act in 2013, to remove red tape that could be a road block to business, and to remove some of the barriers to growth.