Information Booklet
NWT Region Targeted Investment
Program (TIP)
An Introduction
Indian and Northern Affairs Canada (INAC) is investing in the
North, Northerners, their communities and businesses through an
economic development program known as Strategic Investments in
Northern Economic Development (SINED). This program is tailored
to the needs of each territory and, in the NWT, the Targeted Investment
Program (TIP), has been established under SINED.
TIP focuses primarily on investments designed to build knowledge
in key economic sectors, enhance economic infrastructure, develop
capacity, and promote diversification. Investments made under
TIP are guided by multi-year investment plans in each territory.
In the NWT, five strategic investment areas have been identified
to address economic development priorities:
Geoscience Data Collection
– increase geological resources knowledge base
Growing the NWT Tourism Industry
– diversify an underdeveloped industry
Access to Capital for Small Business
– increase participation in the economy
Transportation and Energy Infrastructure
– support economic infrastructure and industrial initiatives
Enhancing Local Capacity to Seize
Economic Opportunities – increase northern
business capacity and support economic diversification activities
Approximately $22.8 million is available in the NWT over the
next three years to March 31, 2009. These funds will be allocated
based on projects aligned with the NWT Investment Plan.
Investment projects will occur either through targeted invitations
or open calls for Expressions of Interest. These calls for projects
under the Targeted Investment Plan (TIP) will be accepted in the
areas of Tourism Infrastructure and Product Development; Enhancing
Local Capacity to Seize Economic Opportunities; and, Transportation
and Energy Infrastructure Planning.
Northwest Territories 5 Year Targeted
Investment Plan Summary
2004/05 to 2008/09
Overview
A diverse group of stakeholders with economic development interests
assisted Indian and Northern Affairs Canada (INAC) in identifying
economic development priorities and strategic investments tailored
to meet NWT needs and realities. These discussions, interviews,
and forums, coupled with information gathered from research and
studies, resulted in the NWT Investment Plan.
The investment plan will help to maintain the direction of investment
priorities; increase dialogue on economic development among those
who have economic development interests; and enhance collaboration
and coordination of ideas and resources. The plan is flexible
so that adjustments can be made annually during the oversight
process where expected results do not materialize or new, promising
opportunities emerge.
The resulting priority targets and allocations were shared with
the Government of the Northwest Territories (GNWT) and other stakeholders
to make sure that the plan was generally consistent with and complementary
to the strategies and priorities which emerged from the GNWT's
consultative and economic planning efforts.
The plan also took into consideration the following NWT economic
realities:
the non-renewable resource sector
the tourism sector
the "traditional economy"
the gaps in knowledge about economic sectors
and other economic sectors
Key challenges included: ensuring that residents participate
in and benefit from the economic activity; ensuring the continued
growth of community economies outside current non-renewable resource
activity; and, ensuring the reinvestment of resource wealth to
build a sustainable long-term territorial economy.
The funds allocated to the Targeted Investment Program (TIP)
for northern economic development are intended to supplement/complement,
not duplicate or replace, existing funding programs in the North.
Focus
In the NWT, TIP is focussed on strengthening economic foundations.
The following key results have been identified: strengthen the
sectors driving the economy - Get the most out of what is working
well; diversify the economy in additional sectors - Create or
enhance sectors that can show strong economic returns; and improve
the ability of Northerners to participate in the NWT economy and
in the national and global economies.
Based upon TIP's four thematic areas:
i) Building the Knowledge Base;
ii) Enhancing the Economic Infrastructure Base;
iii) Capacity Development; and,
iv) Economic Diversification, five strategic investment areas
were identified in the NWT Investment plan to receive funding
to March 31, 2009:
1) Geoscience Data Collection - enhance the NWT's geological
resources knowledge base and leverage further private sector investment.
Allocated funding: $6 million over the next three years.
2) Growing the NWT Tourism Industry - diversify an underdeveloped
industry (including 2007 Canada Winter Games National Marketing
Campaign) for all three territories. Allocated funding: $6.25
million over the next three years.
3) Access to Capital for Small Business - increase local participation
in the expanding NWT economy. Allocated funding: $2 million over
the next three years.
4) Transportation and Energy Infrastructure Planning - enable
and support economic infrastructure and industrial initiatives
that will benefit the NWT's economy. Allocated funding: $4 million
over the next three years.
5) Enhancing Local Capacity to Seize Economic Opportunities -
increase northern business capacity, enable responsiveness to
windows of opportunities and support activities enhancing economic
diversification. Allocated funding: $4.58 million over the next
three years.
Oversight
The investment plan requires INAC to look to key economic players
in the NWT, including the GNWT, Aboriginal governments, other
federal departments, and a diverse group of stakeholders with
economic development interests for advice on strategic investment
priorities throughout the life of the program. This committee
will:
annually assess progress and the continued relevance of
priorities;
revisit planned projects in light of feasibility results;
discuss the reallocation of funds; and,
advise on possible adjustments where results do not materialize
or where new, promising opportunities emerge.
The oversight process has two distinct elements:
1) Investment Plan Target Policy and Priority
Setting will help guide the implementation of the Investment
Plan for the NWT over the life of the program. It will allow for
the incorporation of, or adaptation to changing structures and
relationships which may emerge and guide government investment,
priorities and planning related to economic development.
2) Program Management and Implementation
will manage the solicitation, invitation, prioritization, approval
and monitoring of projects. INAC officials will be responsible
for supporting both processes, including the flow of information
and advice.
Funding
Funding under TIP is available until March 31, 2009. All projects
funded through this program must be completed by this date.
Projects may be approved for funding for up to three years. However,
this funding is subject to yearly budget considerations and reviews
as well as annual review of the project's progress, outcome and
benefits.
Applicant Eligibility
See
TIP Overview chart
Project Eligibility
Projects must align with the priorities outlined in the NWT Investment
Plan and support the objectives. Preference will be given to projects
that can demonstrate sustainability beyond the period of program
funding and to projects providing benefits to multiple participants
in the economy.
Ineligible Activities
Activities will not be funded by the Targeted Investment Program
(TIP) if they are not linked to economic growth. TIP funding cannot
be used for the following:
- core funding and ongoing organizational operations and
maintenance;
- research or knowledge-based activities that are primarily
a resource management function not directly related to economic
development;
- direct skills training for individuals normally offered
through learning institutions or apprenticeship programs;
- major capital investments in infrastructure (e.g. new
laboratories for the purpose of expanding the knowledge base);
- construction activity (as opposed to planning activity)
related to large engineering works such as road, highways, bridges,
airports, rail roads, ports, wharves, dams, commercial buildings
and other similar infrastructure; and,
- investments in new or existing infrastructure which is
owned or operated for the benefit of a single for-profit enterprise
rather than benefiting multiple participants in the economy.
Next Steps/Notification
Investment projects under TIP will occur either through targeted
invitations or open calls for Expressions of Interest. Targeted
invitations for proposals will be solicited for projects in the
strategic investment areas of Geoscience Data Collection and Access
to Capital for Small Business.
Open calls for Expressions of Interest will be accepted for:
Tourism Infrastructure and Product Development; Enhancing Local
Capacity to Seize Economic Opportunities; and Transportation and
Energy Infrastructure Planning.
All proponents that submit Expressions of Interest will be contacted
and advised of the outcome. Selected projects will be considered
for funding, but will be subject to further review and evaluation.
Prospective proponents may be asked to provide additional information
or develop a detailed project proposal for further consideration.
The selection of a project outlined in an Expression of Interest
does not constitute funding approval for the project but that
it may be recommended as a candidate for funding.
Final funding decisions will be approved by the Minister of Indian
and Northern Affairs Canada or his delegate.
For further information, please contact:
Indian and Northern Affairs Canada
Northwest Territories Region
4920 – 52nd Street
P.O. Box 2760
Yellowknife NT X1A 2R1
Toll Free: 1 866 669 2620 or 867 669 2627
Fax: 867 669 2711
