Budget 2018 renewed economic development funding better responds to the needs of Northerners
IQALUIT, NU, June 12, 2018 /CNW/ - In Budget 2018, the Government of Canada announced ongoing funding for CanNor's economic development program. This funding will enable the delivery of the Agency's flagship funding program – Strategic Investments in Northern Economic Development (SINED) – at $20 million per year. This is an important investment in support of economic development in the territories and job creation for Northerners.
The renewed program responds to feedback from partners and stakeholders and will better support Northerners wishing to apply to SINED.
CanNor has streamlined its process and is now accepting funding applications. For 2018-2019, SINED's focus is on four priority areas – innovation, economic growth and diversification, capacity development, and economic infrastructure. By focussing on these priorities, CanNor will help Northerners seize opportunities to grow a strong, diverse and sustainable economy in Canada's North. More information can be found on CanNor's website.
"SINED plays an important role in advancing northern prosperity. Following consultations with stakeholders and through close collaboration with partners, the renewed program will now better support Northerners in seizing economic opportunities in their region and in creating good jobs in the North."
- Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and the Minister responsible for CanNor.
- Since 2009, the Government of Canada has contributed more than $137 million to Northern organizations and governments through SINED. These contributions have supported over 600 projects across Canada's three territories in key sectors and areas such as tourism, fisheries, mining, skills and capacity development, and agriculture development.
- Applications are accepted from for-profit businesses, small and medium-sized enterprises (SMEs), not-for-profit associations or organizations with projects that provide economic benefits to one or more of the territories, as well as to other levels of government or non-federal entities, public or private, working to promote economic development in the territories.
- Applications for funding received by July 31, 2018 will receive priority processing status. Applications received after this date will only be processed if funding remains available.
Follow Minister Bains on Twitter: @ISED_CA
For more information about CanNor, visit cannor.gc.ca
SOURCE Canadian Northern Economic Development Agency (CanNor)
For further information: Karl W. Sasserville, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]; Craig Welsh, Communications Advisor, CanNor, Nunavut Region, 867-975-3722, [email protected]