Current Press Releases

Minister Strahl, Premier Roland, President Tout, Colleagues and Friends: In our Territory of vast distances, it is a rare occasion when this many of us can meet and gather in one place at the same time.

I’m especially pleased, this morning, to note the presence of our federal Minister of Indian and Northern Affairs.

Minister Strahl, I would be remiss if I did not highlight to you that this gathering of individuals is but a small representation of the strength and diversity that exists in the individuals, organizations and levels of government that are working together in our region to build economic capacity and development.

You can be assured, Sir, that the economic future of Canada’s Northwest Territories is in good hands.

I want to recognize, specifically this morning, the leadership that has been provided this year by Ann Marie (Tout) and John (Curren) – and to congratulate both of you on a term in which, I believe, we have seen a strong and welcomed resurgence in the role and voice of the NWT Chamber of Commerce. I was pleased to have the support of the NWT Chamber, last month, for the inaugural meeting of the Minister’s Advisory Panel on the Economy. My intent is that this Panel will continue to grow and evolve as a forum through which the GNWT can obtain first-hand advice and guidance from the private sector regarding economic issues. The GNWT has, in fact, already solicited the Chamber’s specific input on a number of key issues in recent months including: our Hydro Strategy; proposed improvements to the Business Incentive Program; and our ongoing discussion of electricity regulation, rates and subsidy programs.

You can be assured that the feedback that we receive has been – and will continue to be - both valued and heeded.

Ladies and gentlemen, the Government of the Northwest Territories has a vision that is characterized by the title: “Northerners Working Together”.

As elected leaders we have stated that our goal – in part – is a vibrant and flourishing economy that will mean more choices for our people and more opportunities for our businesses.

For a decade, this has been relatively easy to envision. Thanks to investment in our diamond industry and oil and gas potential, we have experienced an unprecedented level of economic growth – and with it extraordinary opportunities for people and our businesses.

Unfortunately, more recent events are proving that the economy of the Northwest Territories is not immune to the impacts of the current global economic slowdown.

We are aware that, in time, the nature and magnitude of our region’s natural resources will allow us to rebound from the challenges that now exist.

In the interim, the Department of Industry, Tourism and Investment is focussing its support on the small businesses and entrepreneurs that are the backbone of our northern economy.

We are working to protect and sustain the economic capacity that we have built – and to preserve and maintain the potential that exists in our people, our businesses and our communities.

Specifically, we are addressing three areas:

• The need for Capital
• The need for people; and
• the need for increased Diversification

Last fall, we introduced the new Support for Entrepreneurs and Economic Development – or SEED – Policy. It is a policy that focuses on the needs of our clients, works more effectively with banks and other partners – and incorporates a streamlined and simple approach.

We have increased our investment in this policy to a total of 3.2 million this year - just one part of the $23.5 million that will be directed to Northerners and Northern businesses and organizations as Grants and Contributions in support of our economic agenda.

The NWT Business Development and Investment Corporation, our Community Futures Organizations and even the NWT Opportunities Fund are additional resources that we have put in place to ensure the availability of capital for NWT businesses.

On a broader scale, the Socio-economic agreements that we have negotiated with our industry partners are proving to be an effective means of leveraging business, employment and procurement opportunities for NWT residents and Aboriginal corporations.

We will continue to solicit industry investment in the NWT while supporting the formation of joint and partnered ventures that allow NWT residents to be full participants in our region’s economic growth.

We will also maintain our oft-unheralded efforts to lobby and leverage federal funding and investment to develop, promote, and sustain small business in the Northwest Territories.

The recent extension of funding under Canada's highly successful Strategic Investments in Northern Economic Development Program and federal commitments regarding a Northern Economic Development Agency in the North are, I believe, a direct result of our work.

That said, I must also thank Minister Strahl - for hearing and acknowledging our interests on this file representing them to the Prime Minister.

Of course, we cannot have a healthy business community, without people. People empower our businesses and provide the market for goods and services that will create more businesses. We are continuing to invest in ways to attract and retain people to our Territory.

Ironically, I believe that this time of economic transition can and will provide an opportunity for us to showcase and highlight the opportunities for investment and employment in the Northwest Territories.

For prospective residents or investors now looking north, the potential for success is clearly evident throughout our Territory – and is implicit in our community of successful northern companies, corporations, joint ventures and partnerships.

Locally owned airlines, hotels, restaurants, construction firms, telecommunications and logistics companies; service and supply industries all pay testament to our capacity for growth and to take a direct role in our region’s economic growth – as business owners, operators and investors.

The collaborative approach that we have initiated with our Territory’s diamond mines is one framework that has been put in place to develop the skills and capacities of Northwest Territories residents to meet the needs of our industry; and attract even more new residents to the Northwest Territories.

Later this week, we will be outlining our plans to take advantage of opportunities presented by the Olympic and Paralympics Games in Vancouver next year. This investment is designed to use the national and international profile of the Olympics to position Canada’s North - and specifically the NWT - as a great place to visit, live, work and invest.

Finally, we’re working to balance our government’s efforts to promote sustainable opportunities in the energy, mines, and petroleum resources sectors with initiatives to diversify the economy through tourism, agriculture, commercial fishing, the traditional economy, manufacturing and secondary industries.

In the long run, promoting a diversified economy will provide for greater future stability in all kinds of economic cycles. To this end we’re working to develop initiatives and approaches that add value to our business products and services and broaden the knowledge, skills, and creativity of NWT residents.

More than any other, investment, tourism holds the potential to advance and develop a myriad of jobs, business opportunities and benefits in just about every corner of our Territory.

Our programs and initiatives are helping industry operators invest in new products and market opportunities. We’re: enhancing and improving our system of NWT parks and information facilities; investing in the production of traditional arts and fine crafts; branding and promoting the products and creations and of our artisan community; and seeking out unique and innovative ways to market the NWT as a tourism destination of choice – one that is in demand - not just by international travelers, but by Canadians and Northerners as well.

And while the NWT’s natural beauty is a magnet for tourists, it’s a renewable resource in another sense too. Northern rivers and lakes have the potential to generate – not just clean and reliable energy – but opportunities for partnership with Aboriginal and community groups to develop this power and the infrastructure that comes with it.

Our Government’s energy initiatives are something that we will be speaking in specific detail about later on in your meetings. In addition, Premier Roland and Minister Miltenberger will be speaking to your meetings tomorrow and will address in, some detail, our government’s strategic priorities – and the investments that we, as a Government, are making to provide the economic stimulus needed to maintain employment and sustain economic activity in our region.

I would like to conclude this morning by formally thanking each of you – as members of the NWT Chamber – for your continued work and commitment in the interest of our Territory’s businesses community.

Particularly during this period of economic uncertainty, the Government of the Northwest Territories is relying on the Chamber for guidance and advice and we recognize the Chamber’s strong and healthy working relationship with the Northwest Territories’ business community.

As we continue to move forward, we will seek your insight and guidance in the development of programs and initiatives that will be relevant to our territory’s business community and will effectively advance economic development in our regions and communities.

Collectively, our goal is the same – a strong and independent Territory made up of 33 economically vibrant and self-sustaining communities – full of healthy, educated families that have the opportunities and resources to make meaningful choices about their lives and future.

Thank You