Economic Development in the City of Prince Albert

“This is probably the most buzz and the most optimistic I’ve been for economic development for quite some time, and everything seems to be falling into place at the right time,” - Craig Guidinger, Director of Planning and Development, City of Prince Albert

“Prince Albert is the perfect size for a small business to start, evolve and continue to be successful for as much time as the work is put into it!” Cody Demerais, Owner - Limitless Gear

New Development Incentive Aims to Spark Commercial and Residential Growth in Prince Albert

Are you thinking about investing in Prince Albert? Now is the time! Through the New Construction of Commercial & Multi-Unit Residential Development Incentive, any new commercial or multi-unit residential project with five or more dwelling units is eligible for a five-year tax abatement, with municipal taxes abated on a declining scale.

A new tax incentive program is now available for developers building new commercial or multi-unit residential projects in Prince Albert. The program, approved by City Council on July 21, 2025, offers a declining scale tax abatement over four years and applies to new construction projects approved after that date.

Under this program, qualifying developments will receive:

70% municipal tax abatement in the first year after construction is completed
50% abatement in the second year
30% abatement in the third year
15% abatement in the fourth year
Full taxation by the fifth year

Review the program details and application form for more information.

Discover Prince Albert: A Hub of Economic Activity

The Prince Albert region boasts a diverse and robust economic base. Centrally located where north meets south and east meets west, our city and surrounding areas serve as a vital hub for economic activity in Saskatchewan. With a dynamic mix of industries, including government, healthcare, forestry, tourism, agriculture, retail, and mining, Prince Albert is thriving with opportunities for growth and investment.

Key Economic Drivers

Healthcare: The largest employer in Prince Albert, healthcare employs nearly 3,000 individuals, representing about 16% of the local workforce.
Government and Administration: As a regional administrative centre for the north, Prince Albert hosts extensive local, provincial, and federal governmental operations. This includes two provincial correctional centres, youth camps, and a federal penitentiary employing 250-300 full-time staff.
Forestry and Mining: The region benefits from rich natural resources, fostering opportunities in forestry and mining industries.
Tourism and Retail: With its natural beauty and unique attractions, tourism thrives, while retail offers a diverse range of services and goods to the community.

A Bright Future: Over $1 Billion in New Construction

Prince Albert is making history with over $1 billion in upcoming development projects. These investments are set to transform the city, improve the quality of life for residents, and attract even more opportunities. Key projects include:

One Sky Forest Products OSB Mill: $250 million
Construction of the Lake Country Co-op Leisure Centre $110 million

The Yard District development: $20 million and growing
Victoria Hospital Expansion: $898 million
First Nations University New Campus: $40-60 million
Brar Construction Apartments: $30 million
Métis Nation Office & Childcare Space: Costs to be announced

These transformative projects will bring new jobs, increase property values, and make Prince Albert an even better place to live, work, and play.

Live, Work, and Thrive in Prince Albert

Prince Albert combines the charm of a small-town atmosphere with the conveniences of a larger urban centre. Nestled along the Saskatchewan River, the city offers natural beauty, including Little Red River Park and numerous lakes just minutes away. Affordable housing, abundant job opportunities, and a welcoming community make Prince Albert an attractive place to call home.

Why Choose Prince Albert?

A vibrant economy with growing industries
Excellent schools and quality healthcare
Affordable housing and lower cost of living
Endless recreational opportunities, from camping and fishing in the summer to snowmobiling and cross-country skiing in the winter

Limitless Opportunities Await

In Prince Albert, you can enjoy wide-open spaces, a strong sense of community, and limitless potential for adventure and growth. From its economic opportunities to its natural beauty, Prince Albert offers the perfect balance for those seeking a fulfilling lifestyle.

The City of Prince Albert is ready to welcome you home. Explore the opportunities and be part of our growing success story.

It’s an exciting time for Prince Albert! We are “open for business. The Prince Albert region is North Central Saskatchewan’s hub for both traditional, emerging, and re-merging industries.
Our business, political and municipal leaders are propelling the region into a bright future through innovative thinking and development with a spirit of entrepreneurial doing!
Our economy has always been recognized for the ability of businesses and entrepreneurs to adapt and innovate with changing times. The forestry sector, a historical pillar of the region’s economy, is set to remerge as a dominant industry after a 15-year hiatus.
Our message is clear: if you are looking for a place to start, relocate and grow your business in a community full of opportunity, the Prince Albert region is a bright and shining choice.