The Town of Hay River appears set to move forward with a new economic development strategy for the community.
Former NWT industry minister Wally Schumann, who chairs a local economic development committee, presented the strategy to council last week, saying residents had provided feedback on challenges and opportunities related to Hay River’s economy.
Issues raised included broader economic and geopolitical pressures, like mining sector uncertainty, alongside more localized concerns like the fate of the railway to Hay River, which owner CN has declined to repair after a 2023 wildfire.
Consultants David Stewart and Mike Aumond were hired by the Town of Hay River to produce the strategy.
Aumond said it focuses on things the municipality can control while recognizing the need to work with other players.
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He said consultants reviewed data dating back to 2000, examined territorial and local economic development plans, and compared Hay River with similarly sized communities such as Inuvik, High Level, Peace River, and Smithers, BC.
About 20 participants from various sectors were interviewed, including town residents alongside Kátł’odeeche First Nation and West Point First Nation members. A public survey also took place.
Stewart said personal income growth in Hay River has lagged behind the NWT average, the population has been declining since about 2016, and the only growing age group is residents who are 60 and over.
He said community engagement showed concerns about attracting workers, competition from other communities, limited tourism accommodation, and uncertainty around major projects.
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Even so, he said feedback showed Hay River remains a proud, welcoming and resilient community with a strong work ethic.
More: Read the draft economic development strategy
He said the strategy’s vision is to strengthen and expand Hay River’s role as the “hub of the North,” Its goals are to support existing economic drivers, improve the quality of life, and diversify the economy “by exploring new sectors.”
Examples of actions in the strategy include:
- finding ways to attract new businesses, like making more land available;
- plan for growth of the commercial agriculture sector;
- develop an intergovernmental strategy;
- attract new residents through incentives like property tax breaks; and
- focus on ways to encourage development of more housing.
Aumond said the town should engage with the GNWT to ensure the rail bed between Hay River and Enterprise is preserved, warning that if it is removed, restoring rail service in the future would be unlikely.
He said maintaining that corridor is important for potential mining projects and long-term economic development, even if the line is currently not in use.
Asked by councillor Tom Lakusta about a proposed “investor toolkit” included in the strategy, Aumond – a former NWT deputy minister of finance, among other senior GNWT roles – said Hay River needs to take a proactive approach to promoting itself as a place to invest and do business.
He said the so-called toolkit could provide a one-window approach for developers, including information on permits, zoning, land availability, tax rates, labour markets and local partners.
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Lakusta said he felt some of the 27 actions presented in the strategy overlap, noting that some of them also call for the creation of further strategies or plans, which could be challenging to implement.
Aumond clarified that the strategy is meant as a guiding document, not an implementation plan.
He said council and staff will need to develop and approve a multi-year implementation plan to address the 27 actions, set priorities, and communicate progress to the public.
