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HomeBusiness ReportFeds spend $1.3 million to support 3 business projects in NWT

Feds spend $1.3 million to support 3 business projects in NWT

The federal government announced over $1.3 million in funding for three economic development projects in the territory.

The projects are located in Fort Liard, Norman Wells and Yellowknife.

Makerspace Yellowknife is receiving $731,000 to renovate a commercial space into a collaborative, workshop space that will provide access to industrial equipment and a tool lending library. 

“This will support skill development, job creation and innovative new businesses in Yellowknife,” said Michael MacLeod, Member of Parliament for the Northwest Territories.

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“Community building is at the heart of organization and if it weren’t for all the other people that support this long wave,” Cat McGurk, President of Makerspace Yellowknife, said during the announcement Friday afternoon.

The organization was also a finalist for the Arctic Inspiration Prize in the youth category

Around $171,000 is going to Beaver Enterprises, a  construction services company in Fort Liard, to help with purchasing new equipment.

The $484,000 in federal money headed to Norman Wells is being spent on planning for a waste management facility in the town.

The funding comes from CanNor’s programs, which support projects that “promote sustainable community economic development, enhancing business development and growth, and facilitating innovation.”

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MacLeod said the federal government has done a fairly good job supporting businesses in NT, and hinted that further investment in the Northwest Territories may be announced during the federal budget update, set to be presented on Monday.

“We certainly recognize that the evolution of the pandemic is going to be tied to the evolution of the virus, and where was the government are no other investments that have been made, are going to be needed throughout the pandemic,”

MacLeod was not able to provide any details about what funding could be coming though. He added the territorial government’s plan to make infrastructure spending part of its economic recovery was a good means to create jobs.

MacLeod said despite the uncertainty that the second wave of COVID-19, which is fully underway throughout Canada, some positive announcements can be expected in the future.

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