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JULY 2016

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Non-Profit Corporation Created To Energize Northern Business Northern Development Initiative Trust Has Served The Region For 11 Years

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RINCE GEORGE – Initiated by the Province of British Columbia 11 years ago, the Northern Development Initiative Trust (NDIT) was created to help spur economic development across a full 75 per cent of the province. Coordinating a range of programs, hosting a variety of online resources and funding options, the NDIT is an independent (non governmental), non-profit corporation that has served as a catalyst for regional economic growth by investing in grass roots local initiatives. “The Trust was initiated by the Province through legislation but it is managed in the north, for the north completely separate from the province of BC,” explained Janine North, NDIT’s Chief Executive Officer (CEO).

North (second from left) was on hand during the ribbon cutting for the Cow Bay Marina project “Its creation was based on the principle that the best decisions for the north are made in the north by the people who actually live there.” Northern Development was originally funded by $185 million in seed money (the Trust

was initially infused with two deposits, the first in 2004 of $135 million and the second of $50 million in 2005 for a total of $185 million). Since that time the Trust Board has approved nearly $151 million in funding and support, a regional financial

stimulus that has ultimately leveraged a n add itiona l $1.3 billion worth of investment in northern BC. “In the past 11 years the Trust h a s b een i nvolved i n 2,260 SEE NORTHERN DEVELOPMENT | PAGE 18

Regional Economic Development Office A Busy Place Several Key Projects Are Either Underway Or Readying For Launch BY DAVID HOLMES

Canadian Publications Mail Acct.: 40069240

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RINCE RUPERT – It’s been a busy year for the Prince Rupert and Port Edward Economic Development Corporation (PREDC) and according to Economic Development Office (EDO) Paul Vendittelli the best is yet to come. “Everyone always wants to talk about LNG (Liquefied Natural Gas) and if it goes it will have a significant impact on the region. But there are a number of things that are happening right now, not could be happening down the road, that are very positive

for the city and the corporation,” he said. One of the major events and one that is transforming the entire Port of Prince Rupert is the major expansion of the city’s vast container port by its owner / operator Dubai-based DP World. Slated for completion in 2017, the Phase Two North Expansion of the container terminal (with an estimated cost of nearly $650 million) will enhance the capacity of the existing Fairview Terminal to ship substantially more containers through the faci l ity. T he conta i ner port began operation in 2007 after being converted from what had

originally been a general cargo facility. Originally envisioned to handle 500,000 containers (Twenty Foot Equivalent Units or TEUs), the demand for this service has expanded so dramatically that the port was moving more than 750,000 TEUs by 2015. The new Phase Two expansion will see that shipping capacity jump to more than 1.3 million TEUs annually. “The wharf will be expanded to 800 metres in length to accommodate two ships simultaneously, which will see the facility’s throughput increase to more than one million TEUs,” Vendittelli

explained. “That project is well underway and is slated for completion next year. It will involve adding three more cranes, increasing the apron size and other significant improvements.” A not her key development currently underway with the assistance of PREDC is the enhancement of the nearby Ridley Island Coal Terminal to convert portions of the underused space into a shipping point for propane to service the Japanese residential market. Parts of the Ridley Island complex have been leased to Alberta-based AltaGas with SEE PRINCE RUPERT | PAGE 6

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Business Examiner Peace Cariboo Skeena - July 2016  

Business Examiner Peace Cariboo Skeena includes business news from Fort St. John and Dawson Creek to Prince Rupert and Kitimat, and from 100...

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