The Support for Entrepreneurs and Economic Development or NWT’s SEED program was officially opened for applications today Tuesday May 12th.
The NWT’s Minister of Industry, Tourism and Investment says the program guideline for 2020-21 focuses on keeping investment within our communities and supporting local employment.
Katrina Nokleby adds that it will prioritize applications from NWT businesses whose proposals focus on economic recovery.
The SEED program will be used to help businesses recover as the COVID-19 pandemic subsides and encourage new, innovative proposals that reflect the realities of the new post-COVID-19 economy.
According to the statement released, a key milestone in the re-opening of SEED applications was the establishment of CanNor’s Northern Business Relief Fund on April 20, 2020.
The GNWT’s SEED program is well-positioned to support economic recovery efforts, help small businesses survive and to complement the federal relief program. .
The 2020-21 SEED budget was previously approved by Members of the Legislative Assembly in the 2020-21 Interim Appropriation to a total of $3.86 million.
- ITI has increased this budget to $4 million through a reallocation of internal resources.