NWT’s real GDP dropped 8% in 2019, largely driven by mining
Real gross domestic product fell eight percent in the NWT last year – the largest drop endured by the territory's GDP since 2011 – according to a new estimate.
Latest
Economy
Canada signs $600M deal for Telesat internet in remote areas
Ottawa is buying space on Telesat's new network for reduced-rate internet in remote Canadian communities. What that'll end up looking like remains to be seen.
GNWT to introduce departmental Indigenous employment targets
The NWT government will set new Indigenous employment targets for every department and introduce updated cultural awareness and sensitivity training.
NWT plans to cut small business tax rate, change budgeting
The NWT's finance minister introduced a bill to halve the small business tax rate, while launching what she called a "fundamental shift" in the GNWT's budget.
NWT remains skeptical of own carbon tax as data shows modest impact
The NWT is still unsure its carbon tax will have a meaningful climate impact, even as its first annual report on the tax suggested a modest emissions reduction.
Yellowknife expects 2020 surplus to be $3.5M under budget
The City of Yellowknife’s annual surplus is expected to be around $3.5 million lower than budgeted this year, due to Covid-19 and delays in capital projects.
Dominion explores federal help with liquidation ‘a real possibility’
Dominion Diamond Mines could seek a form of federal bailout after the sale of its Ekati mine collapsed. Liquidation isn't out of the question, a director said.
Unlimited plans will be ‘pegged to’ YK prices, says Northwestel
Smaller communities will pay the same as residents in Yellowknife when unlimited internet rolls out in the months ahead, Northwestel's president says.
Diavik’s continued operation now ‘at risk’ over missing $120M
The future of the NWT's Diavik mine is now "at risk," managers say, with Diavik operator DDMI owed $120 million by financially stricken minority owner Dominion.
GNWT further extending wage top-up for low-income workers
The NWT government is extending its wage top-up program for low-income workers, which raises the minimum wage to $18 an hour, until February 28.
YK businesses celebrated for inclusion of staff with disabilities
Inclusion NWT this week praised Yellowknife's small business community for its continuing commitment to workers with disabilities during the Covid-19 pandemic.
Forget tax issues, mines need lower costs to thrive, NWT told
The barrier to attracting more mines to the NWT is not taxes and royalties but the sheer cost of operating, a study found. One MLA disputed the report's worth.