Saskatoon named third best city in Canada for doing business

Saskatoon has been ranked the third best city in Canada for doing business.

The 2016 rankings were released Thursday morning by Canadian Business magazine and profitguide.com.

“Saskatoon provides an affordable lifestyle and cost competitive business environment,” states profitguide.com about the ranking.

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Data was submitted by the Saskatoon Regional Economic Development Authority (SREDA) to determine the rankings.

SREDA CEO Alex Fallon said there were a number of factors that went in to determining the rankings.

“The Saskatoon Region’s mix of economic diversity, low business costs and high quality of life make it a leader when it comes to places with advantageous business environments,” Fallon said.

“Canadian Business and PROFIT’s ranking validates what we already know, the Saskatoon Region continues to be a first-rate location for entrepreneurs and executives to start, expand or relocate their business.”

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Saskatoon also placed fourth as Canada’s most lucrative markets for business.

SREDA officials said Saskatoon’s population growth, the value of building permits and low lease and tax rates were positive factors in determining the ranking.

Moose Jaw was the only other Saskatchewan city to make the top 25 list of Canada’s best places for business, placing ninth.

It was also second among the top 15 small cities in the country to live in.