Thank you, Mr. Speaker. It gives me great pleasure, today, to take this opportunity to tell Members of this Assembly about the successes that have been achieved by the Kivalliq Partners in Development. Kivalliq Partners in Development was formed to deliver the region's economic and development programs and services in a coordinated and cooperative arrangement that draws on the strengths of these three partner organizations: one, Sakku Investments Incorporated, the business arm of the Kivalliq Inuit Association; two, the Department of Resources, Wildlife and Economic Development and three, Community Futures, a Government of the Northwest Territories funded organization mandated to provide small business loans to regional businesses to promote
economic growth through the creation of employment.
The Kivalliq Partners have a vision that each Kivalliq community will develop an experienced labour force and build the business infrastructure needed to create a growing economy, one which provides communities and residents opportunities to become more self-sufficient and self-reliant. Through a teamwork approach, which reduces duplication of effort and streamlines services in a cost-effective manner, the Kivalliq Partners provide one-stop shopping for all clients of the Keewatin region who seek economic development services and programs.
Mr. Speaker, the many achievements of the Kivalliq Partners in Development are too numerous to list in detail, but I will touch on some of the highlights:
In 1996-97, the value of projects distributed throughout the seven communities in the region totalled $5,201,567;
Local decision-making committees in the communities approved 30 percent of the total projects;
Ninety-eight percent of all approved projects were to majority-owned Inuit businesses;
The average amount of an approved application was $16,943, with a total of 307 applications approved, reflecting the Partners' commitment to small businesses in smaller communities;
These investments in business projects resulted in the creation of 4,880 weeks of employment for Kivalliq residents, with $1.952 million paid out in wages;
The Kivalliq Partners estimate a five percent reduction in the regional unemployment rate as a result of investments made in economic development, and
The Kivalliq Grants to Small Businesses provided assistance to over 132 residents with their projects, while the Kivalliq Training Program sponsored 370 local residents in skills' development, education, training and labour force developments.
Mr. Speaker, I ask for unanimous consent to conclude my statement.