Mr. Speaker, this is a response to a question asked by Mr. Picco on March 23, 1999. The Northwest Territories Risk Capital Tax Credit Program allows taxpayers to qualify for tax credits by investing, either directly or indirectly in corporations that carry on business in the Territories, and that qualify as an "eligible business". Eligible businesses are active, privately held Canadian taxable corporations that are based in the Territories and have the majority of their staff and assets located in the Northwest Territories.

The Department of Finance has contracted Carron Business Services Ltd. of Yellowknife to administer this program. Carron's main focus will be to review business applications to ensure they qualify for the program and to provide information to the public. Carron Business Services Ltd. can be contacted by phone at (867) 873-9804 or fax (867) 920-4817 or they can be reached by e-mail at [email protected].