Canadian Northern Economic Development Agency (CanNor) is investing over $210,000 to help Northwest Territories (NWT) businesses take advantage of new economic opportunities
YELLOWKNIFE, NT, Feb. 1, 2023 /CNW/ - Building a strong economy means supporting businesses as they adapt, grow and seek out new economic opportunities. In the Northwest Territories (NWT), Indigenous and Northern businesses are building a path forward through creativity, new ideas and innovation, and diversifying our economy, and the Government of Canada is making targeted investments to support businesses and create good jobs Northerners can depend on.
Today, Michael McLeod, Member of Parliament, Northwest Territories, on behalf of the Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor, announced investments of over $210,000, delivered by CanNor, to support three projects that move economic development forward in NWT. The projects receiving funding are Metcor Inc.'s development of an action plan to maximize opportunities for Indigenous participation in Northern remediation projects, Kasteel Construction and Coatings Inc.'s initiative to improve specialty training for trades in NWT, and the Government of the Northwest Territories' (GNWT) Geological Survey's assessment of geological materials for cement production.
Federal investment supports projects in NWT
Funding for these three NWT initiatives led by businesses, community organizations and Indigenous economic development corporations contributes to NWT's economy and supports innovation in diverse economic sectors. Through these projects, NWT businesses will be able to create jobs for workers and explore future opportunities for economic growth.
"Innovation and economic growth in the Northwest Territories rely on the creativity, leadership, and dedication of entrepreneurs, community groups and Indigenous economic development organizations. Through CanNor, our government is providing direct support on the ground to help boost economic growth, create good jobs for workers and promote long term economic sustainability."
- The Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor
"Providing support to NWT businesses helps them create and build new economic opportunities. Strong and resilient economic development depends on strategic investments like these which help with diversifying local economies, creating good jobs and providing Indigenous economic development opportunities which support economic reconciliation."
- Michael McLeod, Member of Parliament, Northwest Territories
"Our ongoing work to diversify the economy of the Northwest Territories includes using science and innovation to maximize benefits from the vast geological resources we have in the Territory as well as supporting local business improvement and expansion initiatives. Our leading geoscientists have identified a potential homegrown solution to an ongoing demand for materials. I am also pleased that this will allow local businesses to increase not only their employee skill levels but support others in their sectors with training opportunities and an understanding of how they can capitalize on areas of economic growth. This is the kind of thinking and creativity we need to help our economy grow, and we thank our partners CanNor and the University of Alberta for bringing us closer to our objectives."
- Minister Caroline Wawzonek, Department of Industry, Tourism and Investment
"Kasteel is focused on caring for our communities and helping Northerners grow. Northerners must train Northerners wherever possible. The funding for this project will allow us to bring more specialized safety training to the North, so our communities can access more diverse training opportunities delivered by such Northerners right at home. We are truly grateful for CanNor's support in our journey to provide more growth opportunities in the North."
- Trevor Kasteel, President of Kasteel Construction and Coatings Inc.
"The North Slave Metis Alliance is proud to have participated in the development of the initiative to create a strategy to increase indigenous participation in Northern Remediation Projects. This initiative aligns with our culture and values of preserving the natural environment and bringing the land back to its natural state. We are very appreciative of CanNor's assistance in our quest to ensure that all mines will have a successful lifecycle through to full and complete remediation."
- John Hazenberg, Head of Business Development, North Slave Metis Alliance
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SOURCE Canadian Northern Economic Development Agency (CanNor)
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