Today, Agriculture Minister David Marit joined Louis Dreyfus Company (LDC) to celebrate the start of construction of a new pea protein isolate production plant at the site of the company’s existing industrial complex in Yorkton. The new production plant is expected to be operational by the end of 2025 and will employ approximately 60 people once completed.
“This is yet another major investment in Saskatchewan that will create new full-time jobs, grow the economy and benefit producers across the province,” Trade and Export Development Minister Jeremy Harrison said. “Saskatchewan leads the nation in private capital investment due to the significant efforts our government is making to ensure we remain the most competitive and reliable place to do business. This new plant bolsters Saskatchewan’s reputation as a trusted jurisdiction for industry to make long-term investments.”
LDC’s new production plant will bring large-scale economic benefits to the Yorkton community, who have already experienced significant gains since the company opened its existing canola crushing facility there in 2009. Last year, work began to expand the facility even further, creating more opportunities for the people of Yorkton and contributing toward a stronger provincial economy.
“Saskatchewan Pulse Growers is pleased with the announcement that this new pea processing facility will be built in our province,” Saskatchewan Pulse Growers Board Chair Winston van Staveren said. “This facility will be a new market opportunity for pulse producers, significantly grow the local economy, and contribute to the expansion of domestic value-added pea processing.”
The addition of the new production plant aligns with the province’s efforts to boost Saskatchewan’s value-added agriculture sector. It will also help the province to achieve its 2030 Growth Plan target of $20 billion in annual agri-food exports, which was surpassed in 2023 with total shipments reaching $20.2 billion.
“This new facility is great news for the people of Yorkton and for Saskatchewan’s pea producers,” Marit said. “Our government continues to place priority on expanding our thriving agriculture industry. Saskatchewan’s value-added agriculture industry provides global food security for the world, with this investment taking us closer to our growth plan goal of processing 50 per cent of the pulse crops produced in the province.”
Saskatchewan’s overall exports have been strong, totaling over $101.9 billion for 2022 and 2023 combined. This is a 52.2 per cent increase from the previous two-year period of 2020-2021, which saw $66.9 billion in total exports.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
Statistics Canada’s latest GDP numbers show Saskatchewan’s 2023 real GDP reached an all-time high of $77.9 billion, increasing by $1.2 billion. This places Saskatchewan second in the nation for real GDP growth.
The Government of Saskatchewan also recently unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.
For more information visit: InvestSK.ca.
(Government of Saskatchewan news release)