CanNor's investment of more than $1.4 million will support ten Indigenous-led businesses and organizations across the North to improve and expand their infrastructure, purchase equipment, and offer new services to their clients

IQALUIT, NU, June 27, 2024 /CNW/ - Building partnerships with Indigenous businesses and communities is crucial to creating more economic opportunities in the North. This includes supporting Indigenous-led projects in all three territories that are forging a path forward through creativity, new ideas and innovation. 

Today, the Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor, announced that the Government of Canada is investing more than $1.4 million in ten projects in Nunavut, the Northwest Territories and the Yukon. This funding will assist Indigenous-led businesses and organizations to build new programs, increase their efficiency by bringing services online, purchase modern equipment, and expand and upgrade their capacity and infrastructure.

Through investments like these, the Government of Canada is supporting projects that increase the participation of northern Indigenous communities and businesses in economic opportunities across the North, further strengthening the economies of all three territories.

Quotes

"Indigenous economic reconciliation is a key component of building strong economies across the North. Our government is working alongside Indigenous businesses and organizations to seize opportunities, create jobs, and grow the local economies. These projects provide essential revenue streams needed to create meaningful economic benefit to communities and support a more prosperous future for Northerners."

-  The Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor

"Supporting Indigenous-led projects is crucial for promoting Indigenous rights, economic development, and community wellbeing. Through CanNor, our government is investing in projects that expand the capacity and potential of Indigenous businesses and organizations, further fueling economic growth across the North."

-  Dr. Brendan Hanley, Member of Parliament for the Yukon   

"Innovation and economic growth in the North rely on the creativity, leadership, and dedication of entrepreneurs, community groups and Indigenous economic development organizations. We are proud to support these projects that foster inclusive and sustainable economic growth and benefit residents and northern communities as a whole."

-  Michael McLeod, Member of Parliament for the Northwest Territories

Quick facts

• The funding announced today is provided through the Canadian Northern Economic Development Agency's regular suite of economic development programs, including the Inclusive Diversification and Economic Advancement in the North (IDEANorth) Program, the Jobs and Growth Fund and through the Community Readiness Opportunities Planning (CROP) stream of the Northern Indigenous Economic Opportunities Program.
  
  • IDEANorth makes foundational investments in economic infrastructure, sector development and capacity building to help position Northerners in the territories to take advantage of Canada's innovation economy.
  • The Jobs and Growth Fund provides funding to businesses and organizations to help create jobs and position local economies for long-term growth.
  • CROP works to improve the economic development capacity of Indigenous communities and increase economic development in the three territories. It achieves this by providing financial support to First Nations, Inuit, Métis and non-status Indigenous communities so they can improve their capacity and prepare to plan for, pursue, and participate in economic opportunities.
• CanNor's economic development programming supports projects that promote sustainable community economic development, enhance business development and growth, and facilitate innovation.

Associated Links

• Backgrounder 
• Canadian Northern Economic Development Agency
• Inclusive Diversification and Economic Advancement in the North (IDEANorth)
• Jobs and Growth Fund
• Community Readiness Opportunities Planning (CROP)

Stay connected

Follow CanNor on X (Twitter), Facebook and LinkedIn.

SOURCE Canadian Northern Economic Development Agency (CanNor)