PRESS RELEASE

 

For Immediate Release

 

Now Is the Time: Turning Federal Investment into Northern Opportunity

 

Yellowknife, NT | November 18, 2025 - The 2025 federal budget marks one of the most significant commitments to Northern development in decades. The focus on Arctic security, critical infrastructure, critical minerals, and northern economic corridors positions the Northwest Territories (NWT) at the center of Canada’s strategic priorities, for now.

This moment is a turning point. The North’s future depends on how quickly we adapt and act. We must build on the success and legacy of our diamond industry and advance a new phase of collaboration, innovation, and infrastructure readiness. Federal attention is here today - We need to move forward with determination, innovation, and a shared sense of urgency to secure long-term prosperity for future generations.

Seizing a Once-in-a-Generation Opportunity

Major projects such as the Arctic Economic Security Corridor, Taltson Hydro Project, and airport redevelopment mark the foundation of a new economic era for the Northwest Territories. Together, they demonstrate a commitment to building a sustainable, diversified economy while reenforcing the region’s strategic role in Canada’s Arctic development.

To build upon this foundation, the Chambers urge the establishment of an Open for Business brand that signals to global investors and companies that the North offers opportunity, stability, and a predictable return on investment. These multi-layered investments have the power to generate local jobs, attract new business, and deliver lasting prosperity.

It's a Time for Action

The federal government is cutting red tape and accelerating delivery through its Major Projects Unit, signaling a shift toward results-based delivery. It is also promoting Indigenous ownership through major investments in the Canadian Infrastructure Bank (CIB), enabling P3 partnerships that empower Indigenous participation in large-scale infrastructure. The GNWT must balance protecting the public interest with creating space for this action-oriented model to work.

To meet the scale of what’s being proposed, the GNWT should engage owner’s representatives and project delivery experts, and private sector professionals. By combining urgency, collaboration, and professional execution, the territory can move from planning to building - faster and more effectively.

The North is ready and now it’s our shared responsibility to ensure our people and our businesses are ready to seize this moment. As federal commitments turn into funds and tools, we need to move quickly, stay aligned, and ensure northern and Indigenous businesses are positioned to lead. This is our opportunity, and we must be ready to take it.”
— Mark Henry, President - Yellowknife Chamber of Commerce

Unlocking the Yellowknife Airport Opportunity

To make this opportunity real, the GNWT and Indigenous governments must define a shared vision, bring in private sector delivery expertise, and enable execution.

The federal budget creates ideal conditions for major investment in airport infrastructure, which is vital to territorial logistics and economic growth. Airports are proven economic engines, and the YZF Airport is well positioned to anchor this next stage of Northern development. We encourage the GNWT to finalize and approve the Airport Land Use Plan - the essential first step toward unlocking federal investment. Once complete, the GNWT should collaborate with Indigenous partners to build a business case and explore, a P3-style partnership that invites Indigenous participation. Moving quickly to capture new funding through the Arctic Infrastructure Fund and the Canadian Infrastructure Bank (CIB) will be key. Combined with increased defence spending on dual-use infrastructure and clear signals from National Defence identifying Yellowknife as a strategic site, these factors create a timely and strategic opportunity for collaboration and growth.

Advancing Northern Infrastructure and Mining Exploration

Budget 2025 marks a significant step toward advancing northern nation-building infrastructure, including the new $1-billion Arctic Infrastructure Fund and continued alignment around the vision for an Arctic Economic Security Corridor. major critical-minerals measures including, the $2-billion Critical Minerals Sovereign Fund that will make strategic investments in critical minerals projects and companies, including equity investments, loan guarantees, and offtake agreements.

These are generational opportunities for investment into our territory and economy. In order to turn these opportunities into projects and jobs, we now need timely regulatory decisions, enabling energy and transportation infrastructure, and strong Indigenous-industry-government partnerships to move projects from exploration into production and ensure long-term northern prosperity.

The Time Is Now

The federal government’s focus and funding are on the North today, but that window will not remain open forever. The lesson of the Ingraham Trail, which ends short of its vision, reminds us of what happens when momentum is lost. We must move forward decisively, with creativity, collaboration, and urgency.