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Tagged ‘Akaitcho‘

Irlbacher-Fox: Northern Governance and the Economy — Thinking About the Big Picture

Our Northwest Territories correspondent, Stephanie Irlbacher-Fox, on the Northern Governance and Economy Conference, the continuing devolution negotiations, and the “big picture” for communities.

 
The NGEC 2012 Conference as Muse
 
From October 10-12, 2012, approximately 170 academics, Northwest Territories residents, and representatives of business, government, Indigenous, social, economic and environmental organizations met together to discuss how social and economic issues affect one another and how the NWT economy turns on these interrelationships. The major sponsor of the Pathways to Prosperity conference was the Social Sciences and Humanities Research Council, for the purpose of sharing academic research results with Northerners. The conferences complete program is available here.
 
“I had never thought about all these things as connected before,” wrote one participant in their conference evaluation. “This conference helped me understand the big picture.”
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Irlbacher-Fox: Gahcho Kué Economic Impacts and NWT Devolution

 

Our NWT political correspondent, Dr. Stephanie Irlbacher-Fox, on devolution in the NWT, the Gacho Kué Impact Review Panel, and its economic impacts.

 

The Mise En Scene

On May 01, 2012, the GNWT tabled a report to the Gahcho Kué Environmental Impact Review Panel entitled, Evaluation of the Economic Impacts of the Gahcho Kué Diamond Project. The report

focus is on the implications for gross domestic product (GDP), income, employment and government revenues in the NWT and Canada as a whole. This analysis measures the impacts on these variables and, unlike cost benefit analysis for example, does not address efficiency issues. (Page 2)

The report then goes on to list various economic statistics. They are pretty confusing, and if you are not an economist it is a bit of a slog having to look up different economic terms of art. The upshot of the report though is this:

the diamond mine will have a significant economic impact. Over the life of the mine, hundreds of jobs will be created, about $4 billion will be added to the national Gross Domestic Product (GDP). According to the report: “In the NWT, the total GDP impact would be about $150 million and 760 jobs would be created for NWT residents. About 85% of those jobs would be generated in the main construction years of 2015 and 2016 creating about 325 jobs per year. Given recent NWT employment levels, this would represent about a 1.5% increase in overall employment. (Page 5)

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