Canadian Northern Economic Development Agency

Canadian Northern Economic Development Agency

December 08, 2010 12:00 ET

CanNor Invests in Revenue Producing Business for Paulatuk

YELLOWKNIFE, NORTHWEST TERRITORIES--(Marketwire - Dec. 8, 2010) - The northern hamlet of Paulatuk will own a new business that will provide ongoing revenue and generate local employment and training opportunities, thanks to an investment by the Canadian Northern Economic Development Agency.

The Honourable John Duncan, Minister of the Canadian Northern Economic Development Agency (CanNor), today announced an investment of $485,000 with the Paulatuk Development Corporation (PDC) that will enable them to purchase an exploration camp. The camp can be leased to mining exploration companies and used for tourism and field education activities.

"This investment will help Paulatuk establish a grass-roots business," said Minister Duncan, who is also Minister of Indian Affairs and Northern Development and Federal Interlocutor for Métis and Non-Status Indians. "The exploration camp will provide long-term economic sustainability for the community, create local jobs and training opportunities, and provide a direct benefit to other businesses in the region."

"Investments in sustainable community-run businesses in the North provide immediate and direct economic benefits to local residents and help communities to achieve their long-term goals for financial independence and success," said the Honourable Leona Aglukkaq, Member of Parliament for Nunavut, Regional Minister for the North and Minister of Health.

The PDC is the not-for-profit economic development arm of the Inuvialuit Regional Corporation with a mandate to provide economic and employment opportunities for the Inuvialuit land claim settlement beneficiaries. The corporation will use the funds on behalf of the community to purchase a portable 15 to 20-person exploration camp that will be leased to Darnley Bay Resources Limited (DBRL) and other mining companies. The camp will also be used for on-the-land community and tourism activities and will employ up to 34 Paulatuk residents during the mineral exploration season.

These investments are made possible through CanNor's Strategic Investments in Northern Economic Development (SINED) program, which focuses on long-term economic growth, economic diversification and capacity building in all three territories. 

SINED is one of several economic development programs within CanNor, which is responsible for coordinating and delivering Canada's economic development across the North, and for related policy development, research and advocacy. 

For copies of CanNor news releases, visit: http://www.cannor.gc.ca.

To learn more about Canada's Economic Action Plan, visit www.actionplan.gc.ca and for more information on Canada's Northern Strategy, visit www.northernstrategy.ca/index-eng.asp.

Contact Information

  • Office of the Honourable John Duncan
    Michele-Jamali Paquette
    Press Secretary
    819-997-0002
    or
    Canadian Northern Economic Development Agency
    Petra White
    Communications Advisor, NT Region
    867-766-8435