Current Press Releases

Yellowknife (June 3, 2009) – The Government of the Northwest Territories (GNWT) invested $20 million last year in individuals and businesses in the Northwest Territories (NWT) to support economic prosperity and community self-reliance.

Minister of Industry, Tourism and Investment (ITI) Bob McLeod tabled his Department’s annual accounting of its Grants and Contributions Programs in the Legislative Assembly on June 3rd.

The Report shows an investment of $20.7 million in grants and contributions to 1,203 individuals, groups and businesses in the 2008/2009 fiscal year, up 14 percent from 2007/2008, and 39 percent from 2006/2007. The most popular ITI program was once again in the traditional economy sector – over 2,300 payments were made to trappers in the NWT through the Fur Pricing Program.

The Department’s contribution to the tourism industry also rose significantly over the previous year, reaching $4.2 million, a year-over-year increase of 45 percent. The majority of funding was allocated to major NWT-wide agencies like NWT Tourism and the NWT Business Development and Investment Corporation.

ITI Minister Bob McLeod says results outlined in this report are a testament to the commitment made by the Government of the Northwest Territories to provide quality programs and services to its residents. “Even in the face of trying economic times, we have continued to increase our funding commitments – and will continue to offer strong financial support to territorial businesses in the future,” he said.

Investment in territorial individuals and businesses is part of the Government of the Northwest Territories’ continuing efforts to Maximize Opportunities by increasing economic diversification, to increase opportunities and choice for all residents of the NWT.

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For more information, contact:

Drew Williams
Press Secretary
Office of the Premier/Cabinet
Government of the Northwest Territories
Phone: (867) 669-2304