This is page numbers 621 - 654 of the Hansard for the 12th Assembly, 5th Session. The original version can be accessed on the Legislative Assembly's website or by contacting the Legislative Assembly Library. The word of the day was languages.

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Further Return To Question 303-12(5): Nwt Development Corporation Funding Available
Question 303-12(5): NWT Development Corporation Funding Available
Item 5: Oral Questions

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John Todd Keewatin Central

There is that old saying, "You can't see the bushes for the trees." The current commitments the Development Corporation board of directors have made leaves them very little flexibility in looking at any additional new ventures that have come forward. My understanding is the Development Corporation has somewhere in the region of $18 million worth of proposals on the desk. But, at the present time, the fiscal position of the Development Corporation is minimal.

Further Return To Question 303-12(5): Nwt Development Corporation Funding Available
Question 303-12(5): NWT Development Corporation Funding Available
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Zoe.

Supplementary To Question 303-12(5): Nwt Development Corporation Funding Available
Question 303-12(5): NWT Development Corporation Funding Available
Item 5: Oral Questions

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Henry Zoe

Henry Zoe North Slave

Madam Speaker, if the government is dedicated to economic development, why is there such a small amount of money available to new businesses?

Supplementary To Question 303-12(5): Nwt Development Corporation Funding Available
Question 303-12(5): NWT Development Corporation Funding Available
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Minister of Economic Development and Tourism, Mr. Todd.

Further Return To Question 303-12(5): Nwt Development Corporation Funding Available
Question 303-12(5): NWT Development Corporation Funding Available
Item 5: Oral Questions

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John Todd Keewatin Central

I don't want to be misunderstood. There are commitments on the table that the independent board of directors reviews and makes decisions on. I am told the financial commitments they have will eat up the overall budget that we have been provided through the capital process. If we could get more money we would be able to do more things. But we are all under the fiscal restraint gun and the Development Corporation is under the same gun. It is trying to do more with less. It does have proposals on the table that will eat up the majority of the current funding that is allocated to this Development Corporation. I don't have the specific number that is left over at this time. I am not trying to evade the question. I am just saying the board of directors have approved projects within the fiscal constraints they are operating under.

Further Return To Question 303-12(5): Nwt Development Corporation Funding Available
Question 303-12(5): NWT Development Corporation Funding Available
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Item 5, oral questions. The honourable Member for Nahendeh, Mr. Antoine.

Jim Antoine Nahendeh

Mahsi, Madam Speaker. My question is for the Minister of Economic Development and Tourism, who is responsible for the NWT Development Corporation. Within the last two years, the NWT Development Corporation bought the Patterson Sawmill in Hay River for approximately $1.4 million to $1.7 million. At that time, Members were told the number of board feet that was required to make this sawmill viable would come from the Cameron Hills area. But now trees have been taken from the Deh Cho region. The people in the Liard area are now in a logging pilot project and may want to develop their own business eventually. What impact will the Development Corporation's large investment in the Patterson Sawmill have on any investment assistance requests from Liard businesses for logging operations? Thank you.

The Speaker Jeannie Marie-Jewell

Thank you. Minister of Economic Development and Tourism, Mr. Todd.

Return To Question 304-12(5): Impact Of Nwt Development Corporation Involvement With Patterson Sawmill
Question 304-12(5): Impact Of NWT Development Corporation Involvement With Patterson Sawmill
Item 5: Oral Questions

Page 630

John Todd Keewatin Central

The short answer is none. As the honourable Member has indicated, we are currently doing an experimental project in the Liard area. I believe the logs are going to BC because that is the closest place. This is a pilot project. Certainly, if we find -- between ourselves and the Department of Renewable Resources -- significant viable timber, we would take and intend to take a hard look at perhaps putting in a mill in that area, so we would increase the economic activity and perhaps more importantly -- to myself, anyway -- jobs for the people in that area. I would say in simple language, I don't see the Patterson Sawmill having significant impact on the Liard area. We are working very closely with that community. We are optimistic, as we must be in today's world, that if we find the appropriate type of lumber

and sales to match, that we will put some kind of facility in there that will increase job opportunities for the Liard and that area of people.

Return To Question 304-12(5): Impact Of Nwt Development Corporation Involvement With Patterson Sawmill
Question 304-12(5): Impact Of NWT Development Corporation Involvement With Patterson Sawmill
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Antoine.

Supplementary To Question 304-12(5): Impact Of Nwt Development Corporation Involvement With Patterson Sawmill
Question 304-12(5): Impact Of NWT Development Corporation Involvement With Patterson Sawmill
Item 5: Oral Questions

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Jim Antoine Nahendeh

Thank you, Madam Speaker. What is the current financial and operational status of the Patterson Sawmill? Thank you.

Supplementary To Question 304-12(5): Impact Of Nwt Development Corporation Involvement With Patterson Sawmill
Question 304-12(5): Impact Of NWT Development Corporation Involvement With Patterson Sawmill
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Minister of Economic Development and Tourism, Mr. Todd.

Further Return To Question 304-12(5): Impact Of Nwt Development Corporation Involvement With Patterson Sawmill
Question 304-12(5): Impact Of NWT Development Corporation Involvement With Patterson Sawmill
Item 5: Oral Questions

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John Todd Keewatin Central

I know it is operating today, but I don't have the financial position at my fingertips at this time, Madam Speaker. I would certainly be willing to provide that to the honourable Member. It is currently operating right now, the same as the one in Resolution. Again, I don't have the fiscal condition of it, but I could certainly provide that information to the honourable Member. Thank you.

Further Return To Question 304-12(5): Impact Of Nwt Development Corporation Involvement With Patterson Sawmill
Question 304-12(5): Impact Of NWT Development Corporation Involvement With Patterson Sawmill
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Item 5, oral questions. The honourable Member for Kitikmeot, Mr. Ng.

Kelvin Ng Kitikmeot

Thank you, Madam Speaker. My question is again to the Minister of Economic Development and Tourism. I would like to ask him if he could clarify for us what exactly the mandate is of the Business Credit Corporation? Thank you.

The Speaker Jeannie Marie-Jewell

Thank you. Minister of Economic Development and Tourism, Mr. Todd.

Return To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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John Todd Keewatin Central

Thank you, Madam Speaker. Perhaps I will just stay standing.

---Laughter

Return To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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Some Hon. Members

Agreed.

---Laughter

Return To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

Page 631

John Todd Keewatin Central

I want to assure my honourable colleagues that I am standing.

---Laughter

The mandate of the Business Credit Corporation, as far as I'm concerned, is to provide business loans and grants to all businesses across the Northwest Territories. I indicated earlier on when I got this portfolio that I saw it as an institution that must be prepared to take greater risk, less collateral and not act like a banking institution. Thank you.

Return To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Ng.

Supplementary To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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Kelvin Ng Kitikmeot

Thank you, Madam Speaker. I would like to ask the Minister how well he feels the Business Credit Corporation is fulfilling its mandate? Thank you.

Supplementary To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Minister of Economic Development and Tourism, Mr. Todd.

Further Return To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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John Todd Keewatin Central

Thank you, Madam Speaker. To be candid, one of the things we sought the Business Credit Corporation's cooperation on was giving the superintendents greater fiscal authority for the loan and grant funds. That money comes from the Business Credit Corporation. With all due respect to the board of directors and the chairperson, they were very cooperative in recognizing that, due to their centralized location and the fact that they had to pull their directors together on a regular basis, that this move to putting more loan money in the hands of superintendents would complement and add to their reference. Thank you.

Further Return To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

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The Speaker Jeannie Marie-Jewell

Thank you. Supplementary, Mr. Ng.

Supplementary To Question 305-12(5): Mandate Of Business Credit Corporation
Question 305-12(5): Mandate Of Business Credit Corporation
Item 5: Oral Questions

Page 631

Kelvin Ng Kitikmeot

Thank you, Madam Speaker. The Minister has mentioned he is trying to get them to increase their risk and maybe lower some of their security requirements to try to allow for more funding to be available to businesses under the Business Credit Corporation. I would like to ask if he's done anything to change that mandate, structurally, to allow for that? Thank you.