William Koblensky Varela
Local Journalism Initiative Reporter
Nunavut News
The federal government’s Regional Defence Investment Initiative has a designated Arctic allotment of $40.5 million that is aimed at small- and medium-sized businesses in Nunavut, the Northwest Territories and Yukon, according to a Dec. 5 press release.
The funding is available for three years and is intended to improve military modernization and, to a lesser extent, strategic infrastructure for the Canadian Armed Forces.
Selected territorial businesses and non-profits will get the money to connect with military equipment producers and manufacturers.
Businesses can access the money through the Canadian Northern Economic Development Agency (CanNor), which is overseen by Minister of Crown-Indigenous Relations and Northern Affairs Canada Rebecca Chartrand.
“Northern and Indigenous businesses are at the core of regional economic development and they play a vital role in Arctic security and community resilience,” Chartrand said. “By investing in their capabilities, we bolster our defence and Arctic readiness, create good jobs, support local economies and build a stronger North that creates local prosperity.”
Applications are open now for businesses and non-profits in technology, manufacturing, commercial and construction sectors.
Prioritized projects will involve integrating businesses into military equipment production, improving productivity and competitiveness, generating income, strengthening military infrastructure in the North, advancing Indigenous economic inclusion, and taking part in the Buy Canadian Policy.
The Regional Defence Investment Initiative is a Canada-wide program that is spending $357.7 million over three years for the whole country.
