Thank you, Mr. Chair. I am pleased to present the 2016-2017 Main Estimates for the Department of Industry, Tourism and Investment. Overall, the department's estimates propose a decrease of $5.8 million or 8.8 per cent over the 2015-16 Main Estimates. These estimates continue to support the objectives of limiting expenditure growth in order to ensure the long-term sustainability of the fiscal framework.
The mandate of ITI is to promote economic self-sufficiency through the responsible development of the Northwest Territories mineral and petroleum resources. The development of natural resource industries including agriculture, commercial fishing, and the traditional economy, and the promotion and support of tourism, trade, and investment, business and manufacturing and secondary industries to create a prosperous, diverse, and sustainable economy for the benefit of all Northwest Territories residents.
Highlight of the proposed estimates include:
● $1.1 million for the continuing of tourism 2020;
● supporting the tourism industry to promote diversification;
● provide skills, training, and marketing;
● $1.4 million for the continuation of the mineral development strategy;
● the strategy to promote the Northwest Territories as a place to invest;
● aboriginal capacity building;
● contribution funding for the mining incentive program, and support for geoscience;
● $2.2 million for the continuation of the economic opportunity strategy that includes $1.4 million for the revitalization of the commercial fishing industry;
● transfer of the Office of the Oil and Gas Regulator to the Department of Justice;
● reductions of $5 million.
The Department of Industry, Tourism and Investment’s Main Estimates continue to support the priorities of 18thLegislative Assembly. Specific activities in support of these priorities include:
● attracting foreign, direct investment, and cross promoting minerals, furs, fish, forest products and tourism to investors and markets;
● increasing exports by working with the tourism, diamonds, and traditional economy sectors to promote Northwest Territories products to international markets;
● supporting mineral exploration in the mining sector by implementing the mineral development strategy;
● capturing opportunities to build transportation infrastructure that enables resources to get to market;
● closing the skills gap in the mining sector;
● implementing the mining incentive program;
● developing and proposing a Mineral Resources Act, and supporting Aboriginal governments to build capacity in dealing with mining related activities;
● finalizing and implementing the commercial fisheries revitalization strategy to increase fish production;
● encourage and mentor new entrants to the Great Slave Lake fishery;
● negotiate an agreement with the fresh-water fish marketing corporation to access markets outside of the Northwest Territories;
● seek federal funding to build a new fish processing plant in Hay River and work with the Tlicho Cooperative to promote and market fish caught in Great Slave Lake;
● supporting the manufacturing sector by developing a Northern manufacturing strategy and continuing to promote manufacturing in the Northwest Territories;
● development of an oil and gas strategy to attract oil and gas development that also provides for the environmentally responsible and economically sustainable development of the oil and gas industry;
● finalizing and implementing an agriculture strategy that will advance food production and economic opportunities in the agriculture sector.
That concludes my opening remarks. Thank you, Mr. Chair.