NORTHWEST TERRITORIES
Yellowknife's business community was in the spotlight this year, as a contingent of candidates with private sector clout put their names in the hat for the 2012 municipal election.
In September, Premier Bob McLeod promoted the territory's resource potential, tourism attractions and trade opportunities during a Council of the Federation trade mission to China. - NNSL file photo |
While Tim Doyle, then-executive director of the Yellowknife Chamber of Commerce, lost the mayoral race to Mark Heyck, issues such as tax increases, property development stagnation, and social ills running businesses out of the downtown were hot-button topics at candidate forums and debates.
Doyle left the chamber following the October election and Leslie Valpy was named to the post in December.
Business-minded city council candidates who were successful in the election included real estate agent and business owner Adrian Bell, construction firm owner Niels Konge, and NWT and Nunavut Construction Association executive director Phil Moon Son.
The year began with to a good start for the city's construction industry, as mild winter weather - including a record-shattering 3 C in February - boosted productivity, sped up timelines, and cut building heating costs for many businesses.
"It's been great for all trades. I mean, warmer temperature makes everything easier," remarked Dale Johnson, project co-ordinator for Clark Builders.
Despite the co-operative weather, a drop in construction output for the territory was reported to be as high as 30 to 50 per cent in 2012, mostly due to a slowdown of government infrastructure spending.
"The milder weather is definitely welcomed by most of the members of the association and there are some sectors that have seen an increase in activity on average because of it, but I don't want to give the impression that our association is in a boom cycle right now," Moon Son told Yellowknifer, speaking for the construction association. "There are a lot of members constantly calling us to say there's not enough work out there, they're not busy.
"The economy's not that great right now so they're basically doing whatever they can to get by."
Despite the economic challenges, a number of builders tackled the city's housing shortage by breaking ground on new residential offerings.
Toro Ventures Ltd. led the way with its 15-suite executive-class apartment building The Point, at the corner of 51 Avenue and 47 Street.
In addition, two developments were launched to liberate some prime Niven Lake subdivision property previously marred by the partially-built Bayview Estates project. Summit Circle Developments Ltd., a company which includes Yellowknife architect Wayne Guy, launched its 36-unit Cavo condominium development in July, and Redcliff Developments Inc. launched the high-end Waterfront Townhomes condominium offering in October.
The city's bread and butter, the mining and exploration sector, felt the global economic pinch this year. Junior exploration companies especially struggled to raise funds for grassroots projects.
"What's happening is the junior companies aren't able to raise the money that they need for exploration," Tom Hoefer, executive director of the NWT and Nunavut Chamber of Mines, told Yellowknifer. "This is a pretty volatile world right now economically, and the reality in our business is we're so linked to the global economy."
Despite the bleak economic picture, Vancouver-based Tyhee Gold Corp. reported progress in raising funds for its Yellowknife Gold Project, after completion this year of the feasibility study for the $193-million project.
The Yellowknife Gold Project is one of six projects with feasibility studies done that the chamber optimistically has its eye on, in addition to the Gahcho Kue project, Nechalacho, Pine Point, Canadian Zinc, and Fortune Mineral's Inc.'s NICO project.
De Beers Canada's Gahcho Kue project, in line to be the NWT's fourth diamond mine, was advancing through public hearings for the project at the end of the year, as BHP Billiton's sale of Canada's fourth diamond mine, Ekati, was announced to go to Harry Winston Diamond Corp. In the tourism sector, operators spoke excitedly about the approaching solar maximum - a spike in solar activity which results in strong aurora borealis - which was drawing aurora tourists to the city from the strong Japanese and domestic markets, as well as the emerging Chinese tourist market.
Verda Law, of Yellowknife Tours, was among the delegates accompanying Premier Bob McLeod on a Council of the Federation trade mission to China in September, as well as Avalon president Don Bubar.
In aviation news, Vancouver-based company Ledcor Air Ltd., sister company of Yellowknife-based Summit Air, acquired Northern airliner Arctic Sunwest Charters. Ledcor also announced the purchase of Yellowknife-based Trinity Helicopters Ltd. in October, after majority interest of the helicopter company was sold to Yellowknifers Donnie and Joan Robinson by Yellowknives Dene First Nation economic arm Det'on Cho Corp.
While the corporation's catering subsidiary Bouwa Whee opened The Smokehouse Cafe in Ndilo to much fanfare, the city's restaurant scene took a loss with the shutting down of popular sports bar and restaurant Surly Bob's in October.
