Question Period Note: CANNOR HIGHLIGHTS - BUDGET 2019

How has CanNor contributed to the economic growth in Arctic and in northern communities?

• Budget 2019 included more than $700 million over 10 years in new and focused funding to ensure that Arctic and northern communities can continue to grow and prosper.
• CanNor is helping deliver on the Government’s commitment to Arctic and northern residents, their communities and the local economy through measures including an enhanced and updated Inclusive Diversification and Economic Advancement in the North (IDEANorth) economic development program.
• In early January 2020, CanNor will launch its 2020-21 expression of interest process for single or multi-year projects.

CanNor highlights from Budget 2019 include $95 million in new funding, over five years:

IDEANorth: Budget 2019 allocated $75 million over five years, starting in 2019-20, in addition to $20 million per year in ongoing funding for its current economic development program. This investment helped create a new initiative: Inclusive Diversification and Economic Advancement in the North (IDEANorth). IDEANorth will allow the agency to support a wider range of initiatives, including community economic infrastructure such as roads or visitor centres, to address the higher cost of doing business in the North.

Northern Isolated Community Initiatives Fund: As part of a National Food Policy, Budget 2019 allocated $15 million over five years, starting in 2019–20, to CanNor to establish a Northern Isolated Community Initiatives Fund. This fund supports community-led projects for local and Indigenous food production systems ($3 million per year).

Tourism: To help Canada’s tourism sector innovate and grow, Budget 2019 allocated $58.5 million over two years, starting in 2019–20, to the Regional Development Agencies for the creation of a Canadian Experiences Fund. The Fund supports Canadian businesses and organizations seeking to create, improve or expand tourism-related infrastructure such as accommodations or local attractions or new tourism products or experiences. (CanNor portion: $2M in 2019-20; $3M in 2020-21).

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