Where Business Grows – Our Economic Indicators
Why invest in Yorkton and region? The answer is simple: natural resources & economic growth
Saskatchewan has 50% of the world’s potash, the next largest is Russia with 22%. World grain consumption
is expected to grow with the global population anticipated to be 9.3 billion by 2050. Global farm output must
rise by 70% by 2050 on less arable land to nourish everyone. Decreasing arable land per capita requires
increasingly higher crop yields to keep pace with demands.
Yorkton is in the middle of the largest and richest potash field in east central Saskatchewan. As such, it will
become the service centre of several potash mines. The majority of potash mines are serviced from
communities within 62 miles. The majority of the projects are within 100 miles of Yorkton.
Mosaic’s Esterhazy mine site, 55 miles south of Yorkton, is undergoing a $1.6 billion expansion. The Potash
Corporation’s mine site in the Rocanville area, 78 miles southeast of Yorkton, is undergoing a $2.8 billion
expansion.
In addition to the expansion of existing mines, there are also active exploration programs in the region.
Encanto Potash Corporation’s Mustowekwan project on the Muskowekwan Indian Reserve 68 miles west of
Yorkton is currently exploring domestic and international strategic partnerships for the financing,
development and sale of potash production from this site. The company’s feasibility studies and drilling
program is expected to be completed in 2013.
BHP Billiton Canada is undertaking an extensive seismic program on its site 37 miles south of Yorkton.
The Potash Corporation of Saskatchewan has completed its exploration program for its site in the
Bredenbury area, 28 miles southeast of Yorkton. Agrium tabled its decision to proceed with its mine site 12
miles southwest of Yorkton in 2010 but could reactivate it.
Finally, North Atlantic Potash (JSC Acron) is actively carrying out an exploration program on its permits in
the Foam Lake area, 65 miles northwest of Yorkton. A 2D seismic survey and an 11-hole drilling have been
completed in 2012. North Atlantic Potash has project to invest over $20 million in this project phase in 2013.
All of this means that Yorkton is poised for substantial growth over the next five to ten years as feasibility
and exploration projects are completed and companies make decisions regarding mine site development.
This growth translates into commercial, industrial and residential planned development.
Harvard Developments Inc. has recently prepared a ten acre commercial development site called York Station
by Parkland Mall in northeast Yorkton. The project includes a 73-suite Days Inn Hotel, two restaurants and a
strip mall. Hotel and both restaurants are recently open. An 80-suite Home Inn & Suites hotel is recently
open by the Painted Hand Casino. Holiday Inn Express is constructing an 103 suite hotel on the corner of
Smith Street East and 7th Avenue North. Total investment to date in hotels is approximately $20 million.
Two new $8.5m car dealerships, Royal Honda and Royal Ford had recently open at the corner of Smith Street
East and Dracup Avenue North.
Recently, the city has completed the first phase of a 40 acre commercial subdivision by the Tourism Centre
on Hwy #9. This $6.2 million first phase of this subdivision has created five commercial lots available for
sale.
Quance Developments Ltd. is working on a 50 acre highway commercial development adjacent to Hwy #10
east. This development is oriented to big-box development and should be ready for tenants by the end of
2013.
The city is planning for industrial expansion along Grain Millers Drive on the 320 acres it owns. Engineering
studies are presently being prepared in anticipation of development in this area beginning in 2013.
The $400m investment in two canola crushing plants back in 2009 brought 150+ direct jobs in the
community. Both plants are expanding their operations. LDM Foods Yorkton Corporation is investing
$900,000.00 in a rail car wash facility for its rolling stock. Richardson International has announced 25%
expansion in its operations.
The city is also actively involved in preparing residential subdivisions. York Colony is the next residential
subdivision to be constructed after Riverside Meadows Phase II. The first phase was completed last fall
consists of 20 lots. The construction of the second phase has been started this year. This phase consists of
42 single-family residential lots and 11 multi-family lots.
REMAI is currently constructing a third building in its Morrison Pointe development. The value of this
condominium project will be in excess of $10 million when completed.
This all translates into building permit values that have not been seen before in Yorkton. The permit value of
$77.8m in 2012 sets a new record which represents significant growth and interest in this community.
Building Permit Values (2007 - 2012)
Year
Residential
Commercial
2007
2008
2009
2010
2011
2012
Total
$15,187,089.00
$16,444,953.00
$15,106,246.00
$17,699,820.00
$20,582,895.00
$26,191,865.00
$111,212,868.00
$23,831,289.00
$8,408,143.00
$27,766,550.00
$7,058,600.00
$10,113,471.00
$48,539,565.00
$125,717,618.00
Industrial
$0.00
$25,056,204.00
$3,538,620.00
$76,000.00
$2,600,000.00
$2,214,000.00
$33,484,824.00
Institutional
Total
$4,707,500.00
$43,725,878.00
$16,186,825.00
$66,096,125.00
$1,960,000.00
$48,371,416.00
$2,063,000.00
$26,897,420.00
$1,210,244.00
$34,506,610.00
$872,970.00
$77,818,400.00
$27,000,539.00 $297,415,849.00
The Saskatchewan East Enterprise Region did a recent report that indicated 67% of businesses in the
resource sector surveyed in this region plan to expand in the next three years. In that same study, 60% of
those businesses indicated their sales are increasing while over $3.8 billion is expected to be invested either in
expansion or renovations in these businesses in the next three years.
Yorkton’s location on Hwy #16 between Winnipeg and Saskatoon allows for it to play a key role as a
transportation hub for the distribution of goods and services to existing and future mineral production sites.
Both CN Rail and CP Rail have major transportation links to Yorkton and service the canola crushing plants.
Yorkton is also situated on a trade corridor which connects southern States of US with the port of Churchill
in Manitoba. Yorkton has actively participated in the Ports-to-Plains Northern Working Group Strategic Plan
to enhance the trade corridor.
Yorkton has the third largest trading area in Saskatchewan with over 150,000 people located within 90 miles.
With a population of 18,427 (2012 Saskatchewan Health estimate) Yorkton is the fifth largest city by
population in the province. Yorkton experienced a five year average annual population growth of 1.35%
between 2007 and 2012. With a strong economic outlook, the city could continue to increase at a higher than
average annual growth based on job growth and subsequent migration to the community.
Over the next twenty-three years, Yorkton is expected to double in population to over 36,000 by 2036. This
net increase in population will be mainly due to in-migration as a result of economic growth and job creation
in the region.
Age & Gender
Age
Group
Under 1
1 to 4
5 to 9
10 to 14
15 to 19
20 to 24
25 to 29
30 to 34
35 to 39
40 to 44
45 to 49
50 to 54
55 to 59
60 to 64
65 to 69
70 to 74
75 to 79
80 to 84
85 to 89
90 to 94
95 Plus
Total
Labor Force
Male
Female
Total
95
470
578
544
572
639
570
560
564
552
587
670
608
479
368
360
266
226
162
55
17
94
419
551
526
572
595
588
561
553
560
612
667
599
497
458
442
375
344
259
148
65
189
889
1,129
1,070
1,144
1,234
1,158
1,121
1,117
1,112
1,199
1,337
1,207
976
826
802
641
570
421
203
82
8,942
9,485
18,427
Source: Sask Health, 2012 Covered Population
In the Labour Force
Participation Rate
Employed
Unemployed
Unemployment rate
Not in Labour Force
Male
4,630
72.4%
4,328
302
6.5%
1,769
Female
4,396
60.7%
4,267
129
2.9%
2,844
Regional Labour Force
Population (15 & older)
Labour Force
Employed
Unemployed
Unemployment Rate
Participation Rate
62,900
41,500
39,700
1,800
4.3%
66.0%
Historic and Projected Retail Sales
Year
Retail Sales
Year
Retail Sales
2002
$213,610,000
2012
$567,474,625
2006
$371,740,000
2014
2009
$486,870,000
2017
Population within 31 mile (50 km) radius
Population within 60 mile (100 km) radius
Population within 90 mile (150 km) radius
$595,230,106
(projected)
$613,533,186
(projected)
32,000+
90,000+
150,000+
Private Households
Private Households, Total
Population in Private Households
Average No. per Household
Average Household Expenditures
7,524
16,982
2.3
Families
Families in Private Households
Couple Families
Lone-Parent Families
Average No. of Persons per Family
Average No. of Children at Home
5,210
4,410
800
2.8
1
Food
Shelter
Clothing
Transportation
Health & Personal care
Recreation, Reading, Education
Taxes & Securities
Other
$
7,171
13,447
2,774
9,999
3,292
5,251
16,603
11,131
%
10.30
19.30
3.98
14.35
4.72
7.54
23.83
15.98
Total Expenditures
69,667
100
Income
Total Income Estimate
Per Capita
Average family Income
Average Household Income
$538,274,390
$29,142
$90,008
$71,541
The Yorkton Municipal Airport has the next largest air movements after Saskatoon and Regina. Almost $1.0
million has been invested in this airport in the last five years and $3.3 million will occur between 2012 and
2017.
The Yorkton Municipal Airport is located three miles north of the City of Yorkton on Highway #9
occupying a land area of approximately 720 acres. The airport is the base operation for both private and
commercial helicopters and fixed wing aircraft operators. The airport is operational 24hrs per day, seven days
a week. The maneuvering area consists of two intersecting runways, a joining taxiway system, public and
private aprons. This Municipal Airport operates with Runway 03-21 (paved, measuring 4,800 ft. by 150 ft.)
and Runway 12-30 (graveled surface measuring 3,000 ft. by 100 ft.). Good Spirit Air Service offers charter air
services, while the flight training, aircraft rentals, crop spraying, aircraft maintenance/ servicing and helicopter
operations are provided by other businesses located at the airport.
Come see why Yorkton is “Where good things happen”.
For more information please contact:
Faisal Anwar
Economic Development Officer, City of Yorkton
Box 400, 37 Third Avenue North, Yorkton, SK, S3N 2W3
Ph. 306-786-1747
Fax. 306-786-6880
Email. [email protected]