November 28, 2012
Good afternoon everyone, and congratulations on the fifth bi‑annual Northern Economic Development Practitioners Conference.
It is a pleasure to be here today among so many professionals who dedicate their working lives to helping NWT entrepreneurs and businesses succeed. This conference is about working together and building northern capacity in economic development. All of us here today share a common goal: working towards economic sustainability for communities and residents of the Northwest Territories. This is one of the key priorities of the 17th Legislative Assembly.
Capacity building has been and continues to be a significant issue in the north and is key focus of this conference. These conferences are an excellent opportunity to learn about existing and new economic development programs, support services, economic and industry overviews and new business opportunities. I encourage you to seize the opportunity you have before you over these next few days to network with your fellow colleagues, generate some new ideas about community economic development, and discuss challenges and share solutions to some of the unique situations you deal with on a daily basis.
Many of you work directly with entrepreneurs and community leaders. You are the face of our programs and our direct link to these clients. Whether you work for your community government, for a community futures organization, or for the GNWT, you are on the front lines of our collaborative efforts to improve the economic well being of NWT residents. I want you to know that the Government of the Northwest Territories appreciates your efforts and the dedication that you bring to your work.
It’s been almost a year since our government formally took office with a commitment to doing business differently. From the beginning, we have readily acknowledged that we do not have the resources or expertise to do everything ourselves – that is why we rely on the experience and expertise of our skilled economic development practitioners throughout the territory to help build sustainable northern businesses and in turn, help build the northern economy. We recognize the importance and value of partnerships and good relationships. And have said – many times – that it is only by working together that we will be able to realize the full potential of our territory and the kind of future we envision for our people. The work that you are doing, particularly at this time in our territory’s political development, is helping to set the stage for a strong and vibrant Northwest Territories. Your clients are the foundation blocks on which our economy is built – but it is economic development practitioners that help to put those blocks in place.
There has never been a more important time for us to look ahead, past the limitations that exist today, to envision a vibrant, diversified economy where entrepreneurship and risk are rewarded and there is a healthy balance between new and traditional economies. Working together, we can create an environment in which investors and entrepreneurs have the incentives to innovate, the confidence to take risks and the tools to succeed.
In the next year, the Government of the Northwest Territories will be working closely with the NWT Chamber- as well as the Northern Aboriginal Business Association, the NWT Association of Communities and Can Nor - to advance an Economic Opportunities Strategy. Deputy Minister Peter Vician will be speaking in more detail about the Economic Opportunities Strategy at tomorrow’s breakfast, but I envision a plan that will allow us to keep pace with the incredible growth potential that our territory has, to ensure we are positioned to guide and manage this investment and growth, and use it to build capacity and self-sufficiency in our communities and our people.
We want to promote and support the development of business opportunities in a variety of sectors. We want to secure economic and employment opportunities from responsible resource development for Northwest Territories residents. We also want to develop even stronger partnerships with businesses, communities, Aboriginal organization and other governments to foster prosperity and community self-reliance, the kind of prosperity that will lead to an economic development project in every one of our communities. But we can’t do this without you.
You are the people working with clients on the front lines in every region and in every community in the Northwest Territories. You are the ones that explore strategies to help make businesses successful. You are the ones that review business plans and find funding to get businesses up and running. And you are the ones – one client at a time, one business at a time – that are making a difference. It is up to you to take the government programs and services we offer and help turn them into jobs and business opportunities at the local level. That requires a level of skill and expertise that only you can bring to the table. It is you who assist in turning the dreams and aspirations of our entrepreneurs and small business owners into reality. And it’s not only technical support: economic development practitioners are the sounding board for business ideas – the person business owners turn to when they have questions or concerns. Across the territory and in our 33 communities, our entrepreneurs need that support as much as they need financial support.
The Government of the Northwest Territories has long recognized how important small businesses are to our economy. And we also recognize how important it is that the economic development practitioners have the resources and tools they need to do their job. That is why we have increased the budget for the Support for Entrepreneurs and Economic Development Policy to $3.8 million for this year. Let’s face it – advice and support is an essential part of starting and growing an economic venture, but your clients need access to capital in order to succeed. By increasing our investment in this popular program, we want to help you as you work with our entrepreneurs to build a sustainable economic future for the Northwest Territories.
I assure you that we are and will continue to look for ways that your government can support you in your work – by evaluating current programs, continuing to support the Business Development and Investment Corporation, and calling on the Federal government to provide the support and resources needed to develop our territory and support the growth of sustainable communities. Promoting economic development and building an even brighter future for our territory is a group effort and we all need to continue to work together to create sustainable, vibrant communities.
Economic development practitioners play a vital role in this effort through the knowledge you offer, the information you share and the commitment you show to your clients each and every day. I want to thank you again for inviting me to speak to you today, and offer my congratulations to the business award winners.
Enjoy the rest of the conference.