Yellowknife, Northwest Territories - Canadian Northern Economic Development Agency (CanNor)
In the recent 2022 Fall Economic Statement, the Government of Canada highlighted its plan to continue its sound stewardship of the economy and to be there for Canadians. To help families cope with increasing costs, like rising prices at the checkout counter, the government is delivering targeted support to the Canadians who need it the most, including by doubling the GST Credit for 11 million eligible Canadians; enhancing the Canada Workers Benefit to support 4.2 million Canadians; and making federal student and apprentice loans permanently interest free for the graduates of today and tomorrow.
Small businesses and their workers are the backbone of communities across the territories and they build up an economy that works for everyone. The Government of Canada was there to support local businesses throughout the pandemic and continues to partner with small businesses to ensure they have the resources they need and the capacity to grow.
Today, the Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor, and Michael McLeod, Member of Parliament, Northwest Territories, announced an investment of $86,602, delivered by CanNor, to assist Javaroma Gourmet Coffee and Tea to expand their business operations into the YK Centre Mall in downtown Yellowknife. The funding for this project will assist with the purchase and installation of equipment needed for opening a café at this new location. Javaroma Gourmet Coffee and Tea will be matching funds for this project.
Federal investment supports small business development and expansion in Yellowknife
This funding from the Inclusive Diversification and Economic Advancement in the North (IDEANorth) program focuses key investments on helping to diversify NWT's economy. Continuing to support small businesses in moving beyond economic recovery to growth, innovation and a greater ability to adapt to changing market realities is a priority for the Government of Canada.
