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Business & Economic Development

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The NWT economy has experienced rapid real growth since 1999 due in large part to significant investment in the diamond and oil and gas sectors… Read more 

In the interests of developing and sustaining a healthy business community in the NWT, the Department of Industry, Tourism and Investment is working to promote continued investment in the Northwest Territories and maintains regional offices dedicated to delivering business programs and services in all sectors including business, arts and crafts, tourism and the traditional harvesting of renewable resources.

The Department recently created and implemented the new SEED Policy and Programs as a replacement for the existing Business Development Fund and Grants to Small Business Programs. This was done to focus more especially on the smaller communities. It also supports Community Futures Corporations in each region which provide lending and support services to regional business communities. The BDIC offers lending programs through ITI regional staff for larger loans.

Recently, the Minister of Industry, Tourism & Investment announced New Business Initatives which allow all sectors to participate in the SEED Policy until March 31, 2010, among other things. You can read the overview of these new programs here.