In this issue

Gear heads Cariboo Bound

Downtown Revitalization program helps spur development in Prince George

Haida Gwaii launches business procurement database

Haida Gwaii launches a business procurement database encouraging small business owners on the islands to sign up and connect with major contractors

Regional investment portals win wide acclaim

BC's Northwest, North Central, Northeast and Cariboo-Chilcotin Coast regions are being marketed like never before thanks to four regional investment portals that have won wide acclaim

Showcasing a world of opportunity

Kitimat back on its feet with billions in investment

Kitimat is back on its feet with billions of dollars in investment due to major energy, transportation and mining projects

Northern Development at a glance


$111

The millions of dollars in funding the Trust committed to 1,068 projects since its inception

5,154

The number of jobs that have been created

1,890

The number of funding partners the Trust has teamed up with to attract more than $1 billion in new funding to the region

73%

The percentage of investments in communities with less than 5,000 people

$200

The millions invested in new capital and training by supported companies

$39.8

The millions of dollars community grant writers have been approved for in funding since 2010

Downtown Revitalization program helps spur development in Prince George

Downtown Prince George is home to eight brand new townhomes, in part thanks to the city’s Downtown Revitalization Tax Exemption and Incentives Program.

InVestgo’s Crescent Townhomes are among the first new developments in Prince George’s downtown core in some time. The eight units, which all include three bedrooms and doublecar garages, were in part built with the help of a partnership established between the City of Prince George and Northern Development Initiative Trust in 2011.

That partnership, a tax exemption and incentive program, was designed to encourage new market and non-market housing, commercial and mixed-use development, green development and facade improvements. The program provided developers with repayable funding in an amount similar to the municipal tax exemption they would normally receive over the term of a revitalization tax exemption agreement.

Gordon Bliss, president of InVestgo Ventures Ltd., a residential development company focused on Prince George, called the program one of the most innovative concepts out there.

“It helped our project to move forward as we could use the tax incentive money as equity with our financial institution,” said Bliss. “This incentive also allowed us to upgrade the look of the buildings inside and out and still offer the units at a favourable price. By all accounts and comments, viewings have been positive and complimentary of our efforts to bring living downtown a reality.”

[quote by=”Shari Green” position=”Mayor” company=”City of Prince George”]These new town homes are proof that partnerships and collaboration in our city can drive new investment and revitalize the heart of Prince George[/quote]

Bliss added that he would like to do more such projects downtown.

City of Prince George Mayor Shari Green also recognized the positive impacts of the project.

“The partnership between the City of Prince George and Northern Development Initiative Trust was designed to reinvigorate our downtown and we’re seeing those results now,” said Green. “These new town homes are proof that partnerships and collaboration in our city can drive new investment and revitalize the heart of Prince George.”