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$135 Million Northern Development Initiative to Promote Economic Growth and Job Creation

October 6, 2004

Legislation introduced in Victoria to establish the $135-million Northern Development Initiative Trust will give northern communities the funding, control and ability to identify and pursue new opportunities for stimulating sustainable economic growth and job creation in their regions.

“The Northern Development Initiative Trust is a clear example of how the $1-billion BC Rail Investment Partnership is helping build a stronger northern economy, an integrated rail system, and a stronger future for British Columbians. This is a $135-million strategic fund for the north that will be controlled by northerners to decide how to use that investment to maximize opportunities for their communities and their children.” - Premier Gordon Campbell

“I am proud that this government recognizes the north as one of the province’s prime economic generators. $135 million will help northern British Columbians leverage investments in their communities that will generate jobs and opportunities for years to come,” said Transportation Minister Kevin Falcon. “I’m excited to see these long-term benefits emerge as a direct result of the billion-dollar BC Rail partnership.”

The legislation introduced reflects the draft framework for the Northern Development Initiative Trust introduced in open cabinet on Dec. 10, 2003. The Northern Development Initiative Trust will be established with a one-time grant of $135 million to be managed by an independent board of directors. This board will make strategic investments in forestry, pine beetle recovery, transportation, tourism, mining, energy, 2010 Winter Olympic and Paralympic Games opportunities, small business and sustainable economic development.

With headquarters in Prince George, the board of directors will comprise 13 members: two representatives from each of four regional advisory committees, as well as five members appointed by the provincial government, who will be appointed shortly.

The four regional advisory committees will represent the Peace, Prince George, Northwest and Cariboo-Chilcotin/Lillooet regions respectively. Initial regional advisory committees will be made up of mayors and regional district chairs of municipalities in each region with populations over 500 people. MLAs in each region will round out the committee by providing broader, cross-community representation.

These initial committees will have six months to determine further operating procedures, including the size and membership of future committees. The mayor of the second-largest municipality in each region will act as the regional advisory committee chair.

The Northern Development Initiative will have three components:

  • A $25-million operating endowment to cover operational expenses.
  • A $50-million fund to support cross-regional economic investments.
  • $60 million in regional development funds to invest $15 million in each of the Peace, Prince George, Northwest and Cariboo-Chilcotin/Lillooet regions.

“The Northern Development Initiative will greatly add to the transformation of Prince George and the surrounding communities as an enhanced dynamic hub of economic activity. We already have a number of ideas as to how we can grow our share of the regional fund, however we look forward to working with other communities to invest in cross-regional projects,” said Prince George mayor Colin Kinsley. “None of this would have been possible without the billion-dollar BC Rail investment partnership.”

“The $50 million for Northern B.C. and $15 million for the northwest will significantly improve our ability to attract investors to the region and generate future successes,” said Prince Rupert mayor Herb Pond. “I look forward to taking an active role in setting this important initiative in motion.”

To facilitate set up, the BC Liberal government has established an initial board comprising mayors of the first and third-largest municipalities in each region and five government-appointed representatives. Following a six-month preliminary period, each of the four regional committees will nominate two representatives to sit on the board. The Premier will be meeting with the mayors, regional district chairs, and MLAs in these areas in the near future to discuss regional initiatives in greater detail.
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Authorized By Jim Pipe, Financial Agent BC Liberal Party.
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