April 18, 2019
Wednesday’s announcement of a $2.7 million investment in nine economic development projects is a good demonstration of how the GNWT is working through ITI and with partners like the Canadian Northern Economic Development Agency (CanNor) to advance economic development and diversification in the NWT.
Approximately $600,000 in contributions by ITI has leveraged federal spending in seven key projects.
The Tourism sector, in particular was the big winner with the largest portion of extra funding (almost $2 million) allocated to Northwest Territories Tourism (NWTT) to support marketing initiatives in targeted markets around the world.
The funding, ($391,000 from NWTT and $1,564.000 from CanNor) will augment current marketing activities in Australia, China, Japan, Germany and South Korea and enable the production of flagship marketing materials in French. It is already allowing NWTT to assess whether Mexico may be a potential new market for the Northwest Territories.
Other tourism-focussed initiatives benefitting from Wednesday’s investment announcement include Indigenous tourism workshops led by ITI in each region, community campground improvements in Wrigley and tourism sector promotion in French language markets.
In addition to tourism-related investments, ITI is contributing $50,000 (of a total $250,000 investment over two years) to promote the NWT film industry and attract more outside productions to the territory.
ITI is also partnering with the federal funding agency, the City of Yellowknife and the Yellowknife Chamber of Commerce to host three business capacity development conferences, including two for women entrepreneurs and one in support of Small Business Week this year.
The GNWT’s Department of ITI has also teamed up with CanNor, Le Conseil de développement économique des Territories du Nord-Ouest, Réseau de développement économique et d’employabilité, Employment and Social Development Canada and Immigration, Refugees and Citizenship Canada to provide funding aimed at attracting investment from key francophone markets, and provide the francophone community in the NWT with entrepreneurial capacity-building tools and training.
"The Government of the Northwest Territories recognizes that sustainability and growth of the NWT economy requires strategic investments and diversification,” Minister of Industry, Tourism and Investment, Wally Schumann notes. “Working together with our partners like the Government of Canada, the GNWT continues to make investments that advance our goal of increasing economic prosperity for Northerners for generations to come,”
Here’s the list of investments made by ITI in support of the overall $2.7 million investment:
- $391,161 (through NWTT) for Enhanced Tourism Research and Marketing for the Northwest Territories
- $38,000 for Northern Capacity Development and Tourism Sector Promotion
- $56,750 for Indigenous Cultural Tourism Development Workshops
- $40,000 for Community Campground Improvements
- $50,000 for NWT Film Industry Special Initiatives
- $7,560 for the Gwich'in Cultural Experience Retreat
- $10,000 for the Trailblazers Conference