Saskatoon will lead Canada in economic growth this year and next, according to the Conference Board of Canada's spring metropolitan outlook. But Saskatchewan's largest city is still offering cash incentives to rental housing developers.
Saskatoon, where the rental vacancy rate is around 2 per cent has a 'New Rental Construction Land Cost Rebate Program' in effect until 2015.
The incentives offer a $5,000 per rental unit capital grant and a property tax abatement for five years. They have also led to the highest increase in new rental construction in the city since 2007.
The Conference Board outlook puts Saskatoon on top in 2012 with gross domestic product growth of 3.6 per cent, followed by Calgary at 3.5 per cent and Edmonton at 3.2 per cent Last year, Regina led the country with gross domestic product growth of 6.1 per cent in 2011, followed by Saskatoon and Edmonton at 4.8 and 4.4 per cent, respectively.
