Community Futures Organizations Crucial to Economic Development

News Releases

December 2, 2010 - Community Futures organizations, such as the Akaitcho Business Development Corporation (Akaitcho BDC), continue to enhance economic development in the Northwest Territories says Minister of Industry, Tourism and Investment (ITI), Bob McLeod.

Speaking at the Akaitcho BDC annual general meeting and awards banquet in Yellowknife, Minister McLeod says the seven Community Futures organizations in the territory provide the support that enable small and medium-sized businesses to succeed.

“They are a crucial component of ITI’s economic development program in all regions of the Northwest Territories, which is why our government is investing $1.6 million in the Community Futures program in 2010-2011,” says Minister McLeod.

Since the Corporation’s inception in 1998, it has been a prime example of the impact Community Futures organizations can have by supporting up to $27 million in projects, which has resulted in the creation of over 420 full-time and 320 part-time jobs in the territory.

“The Akaitcho Business Development Corporation is a wonderful example of what can be accomplished when we work together for the benefit of northern businesses,” Minister McLeod says. “The result is a more vital, diverse and sustainable business community.”

Through its support of Community Futures organizations and small business development, the Government of the Northwest Territories continues to work towards diversifying the economy and providing all communities and regions with opportunities and choices as envisioned in the 16th Legislative Assembly’s Northerners Working Together plan.

For more information, contact:

Darren Campbell
Manager, Public Affairs and Communications
Industry, Tourism and Investment
Tel: (867) 920-8696