The Hay River Chamber of Commerce was the site of a “trade mission” this weekend in partnership with the local Yellowknife chamber. As Northern businesses face a time of unprecedented challenges with rising costs, unprecedented federal investments in the North could translate to unprecedented opportunities for local businesses and organizations.
Organizers said the gathering focused on strengthening business relationships, increasing knowledge of regional economic strengths and helping territory businesses to engage with emerging market opportunities.
The event saw business leaders, municipal representatives, Indigenous organizations, government partners and economic development professionals join a day of site tours, networking and information sharing.
Discussions at the engagement focused on transportation, logistics, manufacturing, industrial services and future economic development opportunities.
“Participants toured key infrastructure assets and businesses, including the Merlyn Carter Airport, Marine Transportation Services (MTS), MetCan Manufacturing, Cando Rail Services, and Aurora Manufacturing, while learning more about the critical role Hay River plays as the transportation and logistics hub of the North,” read a message issued by organizers this weekend.
The dialogue centred on the importance of regional collaboration among local businesses and organizations in accessing major economic opportunities coming North.
“Discussions focused on how communities and businesses can work together to maximize economic benefits, build local capacity, strengthen northern supply chains, and ensure northern companies are well positioned to participate in future investments,” said organizers.
The federal government has pledged billions of dollars in dual infrastructure investments coming North, including defence-related investments, transportation infrastructure, Arctic sovereignty initiatives, housing development and other large-scale projects.
Leaders from across the N.W.T. were also in attendance, including Hay River Mayor Kandis Jameson.
In a message issued following the event, Mayor Jameson pointed out that the community has long served as the ‘hub’ of the North, connecting supply chains to communities and businesses, making Hay River an ideal meeting place to host the trade mission.
“Hay River has long served as a gateway to the North, connecting communities, businesses, and supply chains across the Northwest Territories. This trade mission provided an excellent opportunity to showcase the remarkable businesses and infrastructure that support our economy while strengthening relationships with our partners in Yellowknife. Working together will help ensure our communities are ready to capture the opportunities that lie ahead.”
Yellowknife Mayor Ben Hendriksen was also in attendance. Hendriksen emphasized the timing of the mission as ideal with the territory entering a period of “tremendous opportunity.”
“From defence investments and infrastructure projects to housing and resource development, the scale of future opportunities will require communities and businesses to work together. Strong partnerships between Hay River, Yellowknife, and our business sectors will be key to maximizing economic benefits across the North.”
As N.W.T. leaders have pointed out, the scale of investment coming to the region over the next decade alone, has been described as a “generational opportunity” for communities, businesses and workers in the North.
Local businesses are also facing unprecedented economic struggle, including the rising costs of operations due everything from post-pandemic pricing to rising tariffs and ongoing conflict in the Middle East.
In April, representatives with the Department of National Defence reported that investments in Yellowknife alone could range anywhere from $5 billion to $8 billion.
They said that consultations with Indigenous governments and local community stakeholders would be ongoing.
Last week, Crown-Indigenous Relations Minister Rebecca Alty met with members of the Yellowknife Chamber of Commerce regarding workforce capacity in the North.
N.W.T. MP Alty said that building a strong northern workforce would require a number of strategies from effective immigration pathways to support for northern businesses to help bridge workforce gaps. Minister Alty was joined by Minister of Immigration Lena Metlege Diab.
Alty said that existing gaps cannot be completely met through local workforce reserves or recruitment from other parts of the country.
The ministers said “workforce certainty” is needed for businesses to commit investments in the North.
“Without confidence that the workforce will be available to support growth, it increases risk, slows development, and makes it more difficult for businesses to pursue new opportunities.”
