How much funding can be received?

Funds up to 15% of admissible expenses.

What is the deadline to apply?

The deadline to apply is not specified.

What are NWT Business Incentive Policy's eligibility criterias?

Majority ownership within the NWT (51%). Must have been a resident within the NWT for the past 12 months. Required to provide a copy of driver's license or T2222 Northern residency tax form.

NWT Business Incentive Policy

Q: Who are the financial supporters of the NWT Business Incentive Policy?

NWT Business Incentive Policy is funded by Minister of Industry, Tourism and Investment (NWT), Government of the Northwest Territories

Last Update: January 24, 2025

NT, Canada

NWT Business Incentive Policy at a glance

Eligible Funding

Up to 15% of project cost

Timeline

Continuous Intakes

Financing Type

Other Support

Eligible Industries

All industries

Grant Providers

Minister of Industry, Tourism and Investment (NWT)
Government of the Northwest Territories

Status

Open

Overview of the NWT Business Incentive Policy program

If your business operates in the Northwest Territories, you can register your business to gain a bid advantage for Northwest Territories contracts.

Financing terms and conditions

This grant offers structured bid adjustments to enhance the competitiveness of local businesses in the government's procurement process. It provides incentives based on the contract value to support economic growth in the Northwest Territories.

Bid adjustment for contracts up to $1 million: 15% for NWT businesses and an additional 5% for local businesses.
Bid adjustment for contracts over $1 million: 15% for NWT businesses and 5% for local businesses on the first $1 million, and 1.5% for NWT businesses and 0.5% for local businesses on the amount exceeding $1 million.

Eligible projects & activities

Examples of admissible projects:

$ 20,000

Creating a community garden to promote local food production and education

$ 50,000

Opening a local bookstore specializing in Northern Canadian literature

$ 25,000

Developing an online platform to support local artisans and craftspeople

$ 50,000

Launching a cultural heritage center to preserve Indigenous knowledge and traditions

$ 75,000

Establishing a mobile medical clinic to serve remote communities

$ 60,000

Setting up a renewable energy co-op to increase local sustainable energy options

Eligibility criteria of the NWT Business Incentive Policy program

The eligibility criteria for registering a company under the Business Incentive Policy (BIP) focus on ownership and residency requirements within the Northwest Territories (NWT).

The company must be majority-owned (51% or higher) by residents of the NWT.
The business owner(s) must have been residents of the NWT for the past 12 months.
Documents required for registration include a copy of the owner's driver's license or a T2222 Northern residency tax form.

Who is eligible?

The Business Incentive Policy (BIP) is open to companies with majority ownership (51% or more) within the Northwest Territories (NWT), and the business owners must have been residents within the NWT for the past 12 months.

Who is not eligible

There are some types of companies that are not eligible for the Business Incentive Policy grant:

Companies not owned and operated within the Northwest Territories.
Companies where the majority ownership is not within the Northwest Territories (less than 51%).

Eligible expenses

The Business Incentive Policy (BIP) grant does not specify eligible expenses.

Eligible geographic areas

This grant is offered to businesses operating within a specific geographical area as defined by the funder. Eligible companies must be located in the designated regions to qualify for funding under this policy.

Businesses that are owned and operated within the Northwest Territories (NWT), Canada.

Eligibility criteria of the NWT Business Incentive Policy program

The Business Incentive Policy grant has evaluation and selection criteria. The criteria include:

Majority ownership within the NWT (51%).
Residency in the NWT for the past 12 months.
Submission of required documents such as driver's license or T2222 Northern residency tax form.

How to apply to the NWT Business Incentive Policy program

Review Eligibility and Requirements

Ensure your business meets the eligibility requirements, including being majority-owned (51%) by NWT residents and having resided within NWT for the past 12 months.
Gather necessary documentation such as a copy of your driver's license or T2222 Northern residency tax form.

Obtain Application Forms and Guidelines

Download the BIP Application form and relevant appendices from the GNWT's website.
Review the BIP Guidelines and Interpretive Bulletins to understand the nuances of the application process.

Complete Application Forms

Fill out the BIP Application form thoroughly, ensuring all required information is included.
Complete any additional statutory declarations or appendices required.

Contact Regional Economic Development Officer

Reach out to your regional Economic Development Officer for guidance on completing the application and to confirm all necessary documents are prepared.

Submit Application

Submit the completed application form and supporting documents to the appropriate regional office via mail or in-person delivery.
Ensure submission is done before any deadlines specified by the registry guidelines.

Await Confirmation

Wait for confirmation of receiving your application from the Business Incentive Policy Monitoring Office or relevant department.

Additional information

Here are additional relevant details for the Business Incentive Policy:

The Department of Industry, Tourism and Investment maintains the official registry of approved BIP businesses.
The Government's Contract Registry and Reporting System provides a comprehensive database of government contracts.
Contact regional Economic Development Officers for guidance on the program.
There are multiple interpretive bulletins available to clarify aspects of the BIP, such as subcontract agreements and bid adjustments.
Physical addresses and contact information for regional offices are provided for in-person inquiries and submissions.

Contact Minister of Industry, Tourism and Investment (NWT)

bip@gov.nt.ca

(867)-872-8046

Apply to this program

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