Mr. Speaker, this government has an economic vision. We see a prosperous, diverse economy built on the strengths of our people and the wise use and conscientious protection of our natural resources, one which attracts investment and provides communities and individuals with opportunities to be productive and self-reliant.
Developing a sustainable economy that provides employment and income opportunities for northerners is a key priority of this government. This is a significant challenge and there is no easy answer or one simple solution to meet the increasing demands of job creation. The Department of Resources, Wildlife and Economic Development (RWED), tasked with addressing this challenge, has developed new strategies and approaches, which are seeing positive results.
Mr. Speaker, over this past year, the department has developed several fundamental principles which have been applied in finding new, cost effective alternatives for job creation. Briefly, these principles are as follows:
-The NWT's rich natural resources must be managed responsibly, particularly since they are the basis of our economy. Economic activity in natural resource areas must ensure northern benefits and must consider environmental stewardship.
-The government is not the engine of economic growth. Business and community development drive economic growth and are the lifeblood of job creation in a sustainable economy.
-New partnerships must be formed at every regional level to provide cost-shared sources for programs and services that maximize capital formation, job creation, labour force development and economic growth.
-Regional and community based organizations must have more say and control over their own development to ensure local involvement in finding solutions.
These principles have been applied and have resulted in fundamental changes to program delivery and how results are achieved. All the department's program and Northern Employment Strategy budgets have been allocated on a regional basis and regional superintendents are now responsible for making decisions on where to place investments for best results.
Mr. Speaker, it is important to point out that the department of Resources, Wildlife and Economic Development would not have been able to fund $34 million in projects on its own. Only through our new approach, which allows for increased access to flexible debt financing programs and cost sharing with regional partnerships, have we been able to achieve this volume. The impact on the economy of these investments has been significant. RWED superintendents and partners have been aggressive in supporting new businesses and community economic development, resulting in the creation of 376 full-time and 948 part-time jobs. In today's difficult economic climate many existing businesses and community development organizations require assistance to expand or maintain employment. Assistance was provided, with the result of 459 full-time and 554 part-time jobs maintained. A full-time job is calculated to be a minimum of 40 weeks of employment and a part-time job to be a minimum of ten work weeks of employment. The total work weeks of employment created and maintained as a result of projects was 48,434 which is the equivalent of 1,210 full-time jobs.
RWED's contribution costs per full-time work week of employment were $196, which clearly indicates a good return on investment in providing opportunities for northerners. Mr. Speaker, these results are very positive and clearly show that RWED is headed in the right direction in meeting this government's priorities. The bottom line is that we are devolving the money and authority to the regions and providing flexibility within each region to invest in its priorities. In closing, Mr. Speaker, I would like to thank colleagues and staff for their support in assisting RWED to achieve such positive results. Their hard work and efforts are greatly appreciated. Thank you.
--Applause