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FEDERAL FUNDING SPURS YUKON ECONOMIC AND SOCIAL DEVELOPMENT

WHITEHORSE (September 9, 2003) - Today the Honourable Robert D. Nault, Minister of Indian and Northern Affairs, announced an investment of $215,540 in four Yukon projects led by the Government of Yukon. The funding is provided through the 2003/2004 Knowledge and Innovation Fund.

"This funding demonstrates a commitment on behalf of the Government of Canada to invest in the economic development of the Yukon," said Minister Nault. "These projects reflect an emphasis on using the latest technology to enhance knowledge and expertise to help Northerners capitalize on the breadth of opportunities in the Yukon."

"The progressive scope and depth of the projects provide opportunities for new sources of economic and social stimulus that positively impact the Yukon economy," said Yukon Premier Dennis Fentie. "We are in an exciting position to target Yukon innovation, research and development to the unique nature of the territory and enrich the quality of life for all Yukon citizens."

The Government of Yukon's commitment to cultivating economic strength and diversity has been furthered by this influx of funds. The Department of Finance is leading three of the four projects in collaboration with the Departments of Economic Development and Community Services and the Innovation Canada Yukon Committee (ICY).

They include the creation of a framework document outlining an Economic Development Plan for the territory, the implementation of the Yukon Innovation Action Plan's second phase of training, communications and research and the development of an on-line system to accept credit card payment for goods and services to support e-government projects, private sector business and e-commerce initiatives throughout the territory.

The Government of Yukon's Department of Energy, Mines and Resources, in partnership with organizations such as Foothills Pipelines and the Geological Survey of Canada, will spearhead the fourth project to identify and document the potential hazards and related risks of development and climate change on the Alaska Highway Corridor.

Last year, the Innovation and Knowledge Fund invested $544,343 in nine Yukon projects. The federal fund contributes to the Government of Canada's commitment to northern economic development. This initiative is designed to promote economic development in the North, and development of northern economic institutions, by assisting territorial residents to participate in and benefit from innovation and the knowledge-based economy.

The distribution of $4.4 million over four years to projects in the Yukon, Northwest Territories and Nunavut is aimed at fostering knowledge, innovation and the participation of all northerners in Canada's emerging knowledge-based economy.

This news release is also available on the Internet at http://www.gov.yk.ca/news/.

For more information, contact:

Amanda Leslie
Communications Officer
Yukon Finance
(867) 667-5907

Clint Ireland
Economic Planning Officer
Economic Development
(867) 667-3873

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