YELLOWKNIFE, NT, May 26, 2016 /CNW/ - Member of Parliament for the Northwest Territories, Michael McLeod on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for CanNor, today announced the renewal of the Strategic Investments in Northern Economic Development (SINED) for $40 million over two years.
As part of the renewal, SINED was streamlined into a single program and three priority areas were introduced: fostering innovation and clean technology, driving economic growth and diversification, and supporting capacity development in the North. The focus on these priority areas will help Northerners take advantage of opportunities across economic sectors to grow a strong, diverse, and sustainable economy in Canada's North.
"Innovation drives all successful economies. Investments made through the renewal of SINED will help achieve the objectives of the Government of Canada's innovation agenda by investing in projects that encourage clean economic growth, grow small and medium-sized businesses, and build the capacity of local markets across the North."
Minister of Innovation, Science and Economic Development, and
Minister responsible for the Canadian Northern Economic Development Agency
"A strong northern economy is about building on its strengths – its people, its natural resources, and its diverse business community. 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."
Member of Parliament, Northwest Territories
- The SINED program received a two-year renewal of $20 million per year, through Budget 2016.
- Since 2004, the Government of Canada has contributed more than $188 million to northern organizations and governments through SINED. These contributions have supported over 1,000 projects across Canada's three territories in key sectors and areas such as tourism, fisheries, mining, skills and capacity development and agriculture development.
For more information about CanNor, visit cannor.gc.ca
SOURCE Canadian Northern Economic Development Agency (CanNor)
For further information: Contacts : Office of the Honourable Navdeep Bains, 343-291-2500; Canadian Northern Economic Development Agency, Rebecca McDonald, Communications, NWT Region, 867-669-2592