Northern Development announces more than $500,000 for economic development projects in Northern B.C.

posted 10 days ago.

Photo: Vantage Airport Group

Northern Development Initiative Trust (NDIT) is pleased to announce it has approved over a half a million dollars for economic development projects in its service region. $250,000 was approved for the North Peace Airport Society for the North Peace Regional Airport runway rehabilitation project. The existing pavement on one of the two runways has not been significantly improved for over 20 years and needs substantial repairs and rehabilitation. Without the improved runway, airport operation would be in jeopardy which would negatively impact the economy of the North Peace Region and B.C. Current commercial air carriers with routes to the North Peace Regional Airport include Air Canada, WestJet, and Central Mountain Air.

Jim McKnight, President, North Peace Airport Society states, “The Northern Development Initiative Trust’s (NDIT’s) contribution recognizes the significance of the North Peace Regional Airport as a socioeconomic enabler for the region. Our Regional Airport supports many major projects and industries to thrive in the North. We are very grateful for NDIT’s grant funding and look forward to the rehabilitation of the runway.”

“The board is pleased to support these worthwhile projects throughout our service region with half of the approved Economic Diversification Infrastructure projects directly benefiting First Nations communities.” the Trust noted in a news release Thursday.

The Vantage Airport Group manages and operates the airport on behalf of the North Peace Airport Society, comprised of local governments.

The airport saw 268,240 passengers through its terminal last year, a 6% jump from 2017, and setting a new all-time record for traffic. The airport is forecasting modest growth of 3% for 2019. The airport generates $24 million in economic GDP activity, including more than 300 jobs and $18 million in local incomes and $8.2 million in tax revenues.

Northern Development Initiative Trust is an independent regional economic development corporation focused on stimulating economic growth and job creation in central and northern British Columbia. To date, the Trust has committed more than $218.8 million in funding to more than 3,600 projects in communities throughout central and northern British Columbia. The NDIT has helped create more than 6,200 jobs in the region and forged over 3,600 partnerships with over 1,000 organizations that have attracted more than $1.3 billion in new investment to the region. Approximately 71% of the NDIT’s investments are in small communities with populations of less than 5,000.

The next intake deadline for the Economic Diversification Infrastructure Program is October 31, 2019.

(News Source: Northern Development Initiative Trust, with files from Alaska Highway News)

READ MORE:

  • A password reset e-mail has been sent.

Recover Your Password

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.

  • A password reset e-mail has been sent.

Recover Your Password

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.

  • A password reset e-mail has been sent.

Recover Your Password

Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.