Common Ground identified the need for greater availability of risk capital. We agree. Northern businesses need capital in order to participate in the business opportunities afforded by resource development.

The Government of the Northwest Territories provides incentives through the income tax system for Northerners to invest in northern businesses. The Risk Capital Investment Tax Credit Program provides a tax credit equal to 30 per cent of eligible investments, up to a maximum credit of $30,000. The program has been in place since 1998, but its uptake has been limited. We plan to market the existing program more aggressively, but will also be examining options for revising the program to make it a more effective vehicle for raising capital for Northwest Territories businesses.