The Government of the Northwest Territories (GNWT) has a mandate to grow and diversify its economy throughout all regions.

One way to do this is to encourage growth and innovation in sectors like manufacturing, research, and education. The emergence of activity in these areas, specifically, is recognized as foundational for a knowledge-based economy.

At the point where technology and information combine to create new opportunities and efficiencies across society, a Knowledge Economy is said to exist.

A Knowledge Economy offers opportunities to export knowledge, including research, innovations, designs, software and other intellectual property freely, creating employment and opening up further investment.

To foster the emergence of a uniquely NWT Knowledge Economy, the GNWT is working with partners and stakeholders to create an environment in which residents, businesses, governments, and organizations can recognize and benefit from the creation and sharing of knowledge and ideas.

Living in the north has given NWT residents unique insights in many areas, including managing and remediating resource development, mitigating and adapting to climate change, environmental management, Indigenous relations, and others that can make the NWT a more competitive and attractive destination for knowledge-based businesses and sectors.

Innovation is at the heart of all knowledge economies and northerners are particularly known for their ingenuity and innovation.

In May 2023, the GNWT introduced an Innovation Action Plan to serve as a transition to, and cornerstone for, a future NWT-based knowledge economy.