The NWT’s Department of Industry, Tourism and Investment (ITI)’s Support for Entrepreneurs and Economic Development (SEED) Program will now include NWT businesses making investments to align with the GNWT’s Emerging Wisely Plan.
In a release sent to media Wednesday June 17th, NWT’s Minister of Industry, Tourism, and Investment said these businesses can now apply to the SEED Program for funding.
Katrina Nokleby said as restrictions are eased by the NWT’s CPHO, and in keeping with the spirit of flexibility, the SEED program can now be accessed to cover costs to businesses such as:
- Structural changes required to protect employees (i.e. plexiglas shields);
- Capital improvements (i.e. drive through windows or outdoor patios for restaurants);
- Investments related to shifting operations online; and
- The purchase of personal protective equipment for employees.
Businesses that have already made such investments on their own will be permitted to apply for a portion of this investment, retroactive to April 1, 2020.
Applications should clearly demonstrate financial need and the need for the proposed improvements in order to open and function properly.
The remaining elements of the existing SEED policy – including funding maximums – remain in place. Funding proposals will still need to be forward-looking and include a viable business case.
The 2020-21 SEED budget approved by Members of the Legislative Assembly in the 2020-21 Interim Appropriation totals $3.86 million.
ITI has increased this budget to $4 million through a reallocation of internal resources.