Grants and Contributions Results Report 2020-2021

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The Department of Industry, Tourism and Investment (ITI) is mandated to promote economic self-sufficiency through the responsible development of Northwest Territories (NWT) natural resources and to create a prosperous, diverse and sustainable economy for the benefit of all NWT residents.

One of the ways in which the department works to realize this goal is by delivering a suite of financial programs designed to support a wide range of clients and agencies in a variety of sectors.

The Grants and Contributions report, tabled in the Legislative Assembly by Minister Wawzonek on Wednesday, provides a summary of these grants and contributions for the 2020-2021 fiscal year.

Here is a summary.

ITI administered 24 separate funding programs in the 2020-2021 fiscal year providing $24.9 million in contributions to 679 individuals, entrepreneurs, businesses, governments, and groups in 2020-2021. This represents an increase of $6.9 million or 38% percent, compared to 2019-2020 but also includes $8.2 Million in GNWT and federal contributions for COVID-19 supports.

 

ITI provided $5.6 million in funding for two major NWTwide organizations which have a significant impact on the economic well-being of NWT residents and businesses. Those were: Northwest Territories Tourism (NWTT) and the NWT Business Development and Investment Corporation (BDIC).

Other major contributions went towards economic and small business development through contributions to community, regional and territorial organizations, governments and educational institutions.

Thirty-three (33) percent of grants and contributions last year were delivered to communities outside of Yellowknife, Hay River, Inuvik and Fort Smith.

 

 

The combination of contribution programming for Business Services (Business & Manufacturing Support and Business Support Agencies) accounted for 49 percent of the total grants and contributions.

These programs are largely supported through the Support for Entrepreneurs and Economic Development (SEED) program and Business Support Agencies such as the Business Development and Investment Corporation (BDIC).

Tourism contributions formed 32 percent of total grants and contribution at approximately $8.0 million. This includes funding for marketing including training, research and product development, Indigenous tourism, and other support initiatives.

 

Click here to view the full Grants and Contributions Results Report 2020-2021.