Federal funding program open
NWT MP Michael McLeod announced details under Strategic Investments in Northern Economic Development program
John McFadden
Northern News Services
Monday, May 30, 2016
SOMBA K'E/YELLOWKNIFE
Businesses and organizations in the territory are now able to apply for funding under the Canadian Northern Economic Development Agency's (CanNor) Strategic Investments in Northern Economic Development program.
NWT MP Michael McLeod announces on May 26 in Yellowknife that the application process is now open for organizations and companies seeking funding from CANOR's renewed Strategic Investments in Northern Economic Development program. - John McFadden/NNSL photo |
The funding, first announced by the government in its budget back in March, amounts to $40 million over two years and the opening for applications was marked by NWT MP Michael McLeod in Yellowknife on May 26. McLeod spoke on behalf of Navdeep Bains, minister of innovation, science and economic development.
Since the funding was first announced, McLeod said the program (referred to as SINED) has now been renewed and streamlined with three priority areas: fostering innovation and clean technology, driving economic growth and diversification and supporting capacity development in the North.
"A strong Northern economy is about building on its strengths - its people, its natural resources and its diverse business community," McLeod said. "These will drive innovation across all sectors of the economy, whether in mining, fishing, energy or forestry. SINED's renewed funding will help grow and diversify the Northern economy and create jobs for Northerners."
McLeod said the program aligns with his government's innovation agenda by investing in projects that encourage clean economic growth and growing small- to medium sized-businesses.
Teresa Joudrie, regional director of operations for CanNor. said another new aspect of the program is that CanNor will now accept applications from for-profit businesses under the innovation and clean technology stream.
"They would be eligible to apply for funding up to $99,999 under the SINED program," Joudrie said. "We would ask them to look at the guidelines posted on our website. That includes the eligible activities and the eligible class that they would be able to submit for. They would need to fill out the application form and follow the guidelines to understand what's within the means and bounds of what they are looking to entertain.
Eco-tourism operators and alternative energy companies were cited as two examples of businesses that could qualify for the funding.
