Strong and stable economies and their associated employment opportunities are an important part of community wellness and vibrancy. Strategic infrastructure investments, labour force development, sound economic policies and a streamlined regulatory system all contribute to attracting meaningful growth, encouraging entrepreneurship, and building capacity for private sector development.
Investment in clean, reliable, sustainable energy for communities and industry, and bringing social aspects into the economy such as jobs for long term care or childcare in communities, are important steps to reducing the cost of living and doing business long term. Seeking partnerships for publicly funded projects that support the public interest and GNWT objectives such as local employment opportunities, a low carbon economy and economic diversification is also important to economic development in the NWT.
To strengthen the economic foundation of the NWT, the GNWT will support the development of the private sector and community capacity, encourage a diversity of economic activity across sectors, and reduce the cost of doing business in the NWT. We will:
- Grow and enhance the northern workforce by investing in skill development and by attracting skilled workers to the NWT;
- Increase investment certainty and create opportunities for the private sector by streamlining administrative processes, and ensuring regulatory systems and decision-making are consistent, efficient, and predictable;
- Leverage federal funding to close the infrastructure gap through investments in green power generation and transmission, transportation and communications networks;
- Encourage a diverse range of economic activities by promoting entrepreneurship, fostering research and innovation, building strong partnerships and leveraging opportunities in all regions;
- Support communities to realize economic opportunities by enhancing their ability to access and manage lands within their boundaries.