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==Economy== {{Update|section|date=April 2010}} {{Main article|Economy of Saskatoon}} [[File:Nutrien Tower.jpg|thumb|World's largest potash producer Nutrien's corporate head office tower in downtown Saskatoon]] [[File:Cameco2.jpg|thumb|upright|Headquarters for [[Cameco]], the world's largest publicly traded uranium company. Saskatoon's economy has traditionally been associated with the [[primary sector of the economy]].]] The economy of Saskatoon has been associated with [[potash]], [[oil]] and [[agriculture]] (specifically [[wheat]]), resulting in the moniker "POW City".<ref name="pow"/> Various grains, livestock, oil and gas, potash, uranium, gold, diamond, coal and their spin off industries fuel the economy.<ref name="AHN"/><ref name="GofS">{{cite web | title = Saskatchewan's Economy | work = About Saskatchewan/Economy | publisher = Government of Saskatchewan | url = http://www.gov.sk.ca/Default.aspx?DN=8f48fa79-d320-48d8-bc6a-f414d4c59694 | access-date = 2009-01-16 | url-status = dead | archive-url = https://web.archive.org/web/20081219233458/http://www.gov.sk.ca/Default.aspx?DN=8f48fa79-d320-48d8-bc6a-f414d4c59694 | archive-date = December 19, 2008 | df = mdy-all }} </ref> The world's largest publicly traded [[uranium]] company, [[Cameco]], and the world's largest [[potash]] producer, [[Nutrien]], have corporate headquarters in Saskatoon. Saskatoon is also the new home of BHP Billiton's Diamonds and Specialty Products business unit. Nearly two-thirds of the world's recoverable potash reserves are in the Saskatoon region.<ref name="cityquickfacts" /> [[Innovation Place Research Park|Innovation Place]] founded in 1980 brings together almost 150 agriculture, information technology, and environmental, life sciences and [[agricultural biotechnology]] industries in a [[science park]] or [[technology park]] setting.<ref>{{cite web |title = Innovation Place Saskatoon |url = http://www.innovationplace.com/innovation-place.php |access-date = 2009-04-26 |url-status = dead |archive-url = https://web.archive.org/web/20110928171812/http://www.innovationplace.com/innovation-place.php |archive-date = September 28, 2011 |df = mdy-all }} </ref> Saskatoon is also home to the [[Canadian Light Source]], Canada's national [[synchrotron light source|synchrotron]] facility.<ref name="Newest">{{Cite journal |last1=Cutler |first1=Jeffrey |last2=Hallin |first2=Emil |last3=de Jong |first3=Mark |last4=Thomlinson |first4=William |last5=Ellis |first5=Thomas |year=2007 |title=The Canadian Light Source: The newest synchrotron in the Americas |journal=Nuclear Instruments and Methods in Physics Research A |volume=582 |issue=1 |pages=11–13 |doi=10.1016/j.nima.2007.08.086 |bibcode=2007NIMPA.582...11C }}</ref> [[File:CLS from the air.jpg|thumb|left|The Canadian Light Source building from the air]] Saskatoon's digital media scene is growing with start-up tech companies such as Noodlecake, Point2, Vendasta Technologies, and Zu.<ref>{{cite web |url = http://www.sreda.com/key-industries/ict/ |title = Information and Communications Technologies |publisher = Saskatoon Regional Economic Developer Authority |access-date = 2016-04-07 |archive-url = https://web.archive.org/web/20160423085118/http://www.sreda.com/key-industries/ict/ |archive-date = April 23, 2016 |url-status = dead |df = mdy-all }}</ref> One of Saskatoon's nicknames, "Hub City", refers to its ideal central location within Canada for distribution and logistics.<ref name="pow">{{cite web | last = Parker | first = Rob | title = How Saskatoon Got the Nickname POW | url = http://www.marketmyarticle.com/Article/How-Saskatoon-Got-the-Nickname-POW/1816 | access-date = 2009-04-25 | archive-url = https://web.archive.org/web/20080907144850/http://www.marketmyarticle.com/Article/How-Saskatoon-Got-the-Nickname-POW/1816 | archive-date = September 7, 2008 | url-status = live }}</ref> [[Saskatoon John G. Diefenbaker International Airport]] with 105,620 aircraft movements in 2008 was listed as the [[List of the busiest airports in Canada|19th busiest airport in Canada, 12th busiest in passenger traffic]].<ref name="2008move">{{cite web|url=http://www.tc.gc.ca/policy/report/tp141e/tp141.htm |title=TP141 – Aircraft Movement Statistics |publisher=Tc.gc.ca |date=2011-01-12 |access-date=2011-05-05 |url-status=dead |archive-url=https://web.archive.org/web/20110607213153/http://www.tc.gc.ca/policy/report/tp141e/tp141.htm |archive-date=June 7, 2011 }}</ref><ref>[http://www.yxe.ca/newsletter/index.html Passenger Traffic] {{webarchive |url=https://web.archive.org/web/20121004105539/http://www.yxe.ca/newsletter/index.html |date=October 4, 2012 }} Passenger statistics from airport</ref> Saskatoon is developing the South Central Business District, or block 146, which is called the [[Central Business District, Saskatoon#South Downtown River Landing|River Landing Project]].<ref>[http://www.riverlanding.ca/ River Landing] {{webarchive |url=https://web.archive.org/web/20161006163537/http://www.riverlanding.ca/ |date=October 6, 2016 }}. Retrieved February 4, 2007.</ref><ref>[http://www.downtownsaskatoon.com/ The Partnership] {{webarchive |url=https://web.archive.org/web/20160311065551/http://www.downtownsaskatoon.com/ |date=March 11, 2016 }}. Retrieved February 4, 2007.</ref><ref>{{cite web |url = http://www.saskatoon.ca/DEPARTMENTS/Community%20Services/PlanningDevelopment/FutureGrowth/Documents/DCD1_Guidelines.pdf |title = Direct Control District No. 1 (DCD1) for The South Downtown |publisher = City of Saskatoon |date = August 27, 2004 |access-date = 2010-11-10 |archive-url = https://web.archive.org/web/20120327072948/http://www.saskatoon.ca/DEPARTMENTS/Community%20Services/PlanningDevelopment/FutureGrowth/Documents/DCD1_Guidelines.pdf |archive-date = March 27, 2012 |url-status = dead |df = mdy-all }}</ref> Long range planning is underway for an expected city population of 325,000 by 2028 (2011 MXD report).<ref>{{cite web |author = Community Service Department, City Planning Branch |title = Future Growth Study |publisher = City of Saskatoon |date = June 2000 |url = http://www.saskatoon.ca/DEPARTMENTS/Community%20Services/PlanningDevelopment/NeighbourhoodPlanning/Documents/future_growth_study.pdf |access-date = 2009-04-26 |archive-url = https://web.archive.org/web/20120807113937/http://www.saskatoon.ca/DEPARTMENTS/Community%20Services/PlanningDevelopment/NeighbourhoodPlanning/Documents/future_growth_study.pdf |archive-date = August 7, 2012 |url-status = dead |df = mdy-all }} </ref> Saskatoon was expected to see a 4.2 percent growth in gross domestic product for the year 2012.<ref name="AHN">{{cite web |last = SREDA |title = Saskatoon Emerges As Fastest Growing City In Canada |publisher = AHN |date = April 6, 2009 |url = http://www.allheadlinenews.com/articles/7014690196 |access-date = 2009-04-26 |archive-url = https://web.archive.org/web/20090409112739/http://www.allheadlinenews.com/articles/7014690196 |archive-date = April 9, 2009 |url-status = dead |df = mdy-all }} </ref> The city saw a 3.4% growth in 2004, 5.1% increase in 2005 and a 2.8% increase in 2006. Saskatoon held Canada's No. 1 economic growth spot for Canada in 2005 according to the [[Conference Board of Canada]].<ref>{{cite web |title = Saskatoon—Canadian leader in economic growth in 2005.(gross domestic product) |publisher = Sask Business |date = March 1, 2006 |url = http://www.highbeam.com/doc/1G1-147297681.html |access-date = 2009-04-26 |archive-url = https://web.archive.org/web/20121102101718/http://www.highbeam.com/doc/1G1-147297681.html |archive-date = November 2, 2012 |url-status = dead |df = mdy-all }} </ref><ref>{{cite web|title=Saskatoon—Canadian leader in economic growth with GDP of seven per cent in 2005.(Saskatoon Update)(gross domestic product) |publisher=Sask Business |date=November 1, 2005 |url=http://www.encyclopedia.com/doc/1G1-139566970.html |access-date=2009-04-25 }}{{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}} </ref> The Conference Board again predicted the city would rate first for economic increase in 2012, showing a growth rate of 4.2%. The Saskatoon Regional Economic Development Authority (SREDA) has also been ranked amongst Canada's top ten economic development organizations by ''Site Selection'' magazine.<ref>{{cite web|title=Economic News |work=Enterprise Saskatchewan |publisher=Government of Saskatchewan |date=September 19, 2008 |url=http://www.enterprisesaskatchewan.ca/enr091908 |access-date=2009-04-26 |url-status=dead |archive-url=https://web.archive.org/web/20110706180357/http://www.enterprisesaskatchewan.ca/enr091908 |archive-date=July 6, 2011 }} </ref> From 1988 to 2016 [[Hitachi#Discontinued or divested businesses|Hitachi Canadian Industries]] operated a power equipment manufacturing plant. It was closed and assets acquired by Brandt Group in 2017.<ref>{{Cite web|url=https://globalnews.ca/news/3334961/brandt-expands-with-acquisition-of-mitsubishi-hitachi-power-systems-in-saskatoon/|title=Brandt expands with acquisition of Mitsubishi Hitachi Power Systems in Saskatoon|publisher=[[Global News]]}}</ref>
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