By northerners, for northerners
The Northern Development Initiative Trust board, regional advisory committees and staff have a passion for growing the economy of central and northern British Columbia. When the Premier of British Columbia announced the Northern Development Initiative Trust, it was on the premise that, “The best economic development decisions for the North should be made in the North.”
Northern Development is an independent, non-profit corporation; a catalyst stimulating economic growth through investments in grassroots, community-led projects.
Established through provincial legislation
On October 6, 2004 the Province of British Columbia introduced Bill 59, the Northern Development Initiative Trust Act.
On September 21, 2005, the Province of British Columbia introduced Bill 6, the Northern Development Initiative Trust Amendment Act, 2005. Under Bill 6, the Trust received an additional capital infusion of $50 million from the Province.
Established through these acts of legislation, and initially infused with two deposits totaling $185 million, Northern Development is a regionally operated economic development funding corporation for central and northern British Columbia. Northern Development operates independently from government and provides the funding and ability to identify and pursue new opportunities for stimulating economic growth and job creation within the region.
Investing in a sustainable future for our vibrant, growing region
As of June 30, 2015, Northern Development has provided $130 million in funding towards over 1,820 projects in central and northern B.C. communities driving more than $1.2 billion of investment by communities, business, and government into the region’s economy. Having exceeded our original targets, we are now focused on attracting up to $2 billion in investment to the region by 2015 and ensuring that the original $185 million in capital will sustainably ensure a trust that benefits the region for generations. Communities, First Nations and businesses of the north are leaders in creating jobs, new revenues and improving the quality of life in our region. Ever increasing partnerships are a testament to the strength of leadership in this northern decade of prosperity.
In addition to flowing funding into communities, Northern Development makes a difference through working with municipalities, regional districts and First Nations to build economic development staff and program capacity. The Grant Writing Support program enables grant writing positions in up to 54 communities each year, dramatically increasing the success communities have in applying for and securing grants. Northern Development’s internship program places university graduates from rural communities into short term economic development and local government roles as part of a practical hands-on six month training program. Energetic and enthusiastic young professionals provide direct assistance with economic development projects and gain the ‘real-life’ experience to be recruited into full-time economic development positions. Another valuable resource for growing businesses is Northern Development’s Competitiveness Consulting Rebate program. This provides a fifty percent rebate on business consulting expertise which allows companies to increase their productivity and accelerate revenues and employment as a result.
The projects highlighted throughout Northern Development’s website are among hundreds of success stories where Northern Development has played a role, working alongside the people of central and northern British Columbia.
Join us in celebrating these successes as we move towards a sustainable future in the vibrant, growing region that is our home.