Thank you, Mr. Speaker. Mr. Speaker, I have a Return to Oral Question asked by Mr. Delorey on October 16, 2002, regarding the Business Incentive Policy revisions.
In response to the revision deadline question: the proposed revisions to the Business Incentive Policy, along with a general information backgrounder, were released at a press conference on August 22, 2002. Opportunities were given to highlight changes, suggest amendments and respond to questions. This process was open until September 20, 2002.
In response to the socio-economic benefits question: for the fiscal year 2000-2001, $150 million of the $206 million paid to businesses were in fact paid to northern businesses. Our business community is seeing record growth in every sector:
- • retail sales were up by $51 million last year;
- • wholesale trade was up 20 percent;
- • restaurant sales were up 27 percent; and
- • manufacturing shipments increased by 25 percent.
Over the past year employment income in these industries has been growing at more than $500,000 per month. As the Northwest Territories economy grows, there is a lesser dependency on government spending. Therefore, it is timely that the policy be revised to meet our current economic objectives.
In response to the manufacturing sector involvement question: on September 20, 2001, a panel was appointed to establish a stand-alone manufacturing program that addresses market research and development consistent with "Common Ground" recommendation 41.
Recommendation 41 states that: "Government should work with industry to develop a manufacturing strategy that addresses marketing, research and development for the sector. The sector should encompass a broad range of value-added activity and include an export development component."
The panel has been working on recommendations for the development of a program to assist northern producers of goods with inherent difficulties of operating in the North.
The Department of Resources, Wildlife and Economic Development expects to receive the recommendations within the next month and will work on finalizing a stand-alone northern manufacturing policy on a parallel basis with the Business Incentive Policy. Mahsi, Mr. Speaker.