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Overview

The BDIC is undertaking a review and will be making updates to the Northwest Territories Business Development and Investment Corporation Act (BDIC Act).

Aside from some minor amendments in 2007 and 2018, the BDIC Act and regulations have not been comprehensively updated since the creation of BDIC in 2005. Since then, there have been significant changes in the environment and businesses’ needs. Opportunity exists to introduce amendments to the BDIC Act to enhance clarity and transparency, offer relevant support to entrepreneurs and businesses, and generate positive impacts on the NWT economy.

There were several amendment areas explored during engagement with entrepreneurs, businesses, industry, government, and other stakeholders during spring and summer of 2022. The input and feedback gathered will inform the legislative proposal and future updates to regulations and policies. Once drafted, the updated BDIC Act will be introduced to the 19^th Legislative Assembly for their review, amendment, and enactment.