Minister Dan Vandal highlights how the Fall Economic Statement helps make life more affordable and announces funding to support Javaroma's business expansion in downtown Yellowknife

[Newswire.CA] Minister Dan Vandal highlights how the Fall Economic Statement helps make life more affordable and announces funding to support Javaroma's business expansion in downtown Yellowknife

YELLOWKNIFE, NT, Nov. 7, 2022 /CNW/ - In the recent 2022 Fall Economic Statement, the Government of Canada highlighted its plan to continue its sound stewardship of the economy and to be there for Canadians. To help families cope with increasing costs, like rising prices at the checkout counter, the government is delivering targeted support to the Canadians who need it the most, including by doubling the GST Credit for 11 million eligible Canadians; enhancing the Canada Workers Benefit to support 4.2 million Canadians; and making federal student and apprentice loans permanently interest free for the graduates of today and tomorrow.

Small businesses and their workers are the backbone of communities across the territories and they build up an economy that works for everyone. The Government of Canada was there to support local businesses throughout the pandemic and continues to partner with small businesses to ensure they have the resources they need and the capacity to grow.

Today, the Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor, and Michael McLeod, Member of Parliament, Northwest Territories, announced an investment of $86,602, delivered by CanNor, to assist Javaroma Gourmet Coffee and Tea to expand their business operations into the YK Centre Mall in downtown Yellowknife. The funding for this project will assist with the purchase and installation of equipment needed for opening a café at this new location. Javaroma Gourmet Tea and Coffee will be matching funds for this project.

Federal investment supports small business development and expansion in

Yellowknife

This funding from the Inclusive Diversification and Economic Advancement in the North (IDEANorth) program focuses key investments on helping to diversify NWT's economy. Continuing to support small businesses in moving beyond economic recovery to growth, innovation and a greater ability to adapt to changing market realities is a priority for the Government of Canada.

Quotes

"Our government remains focused on growing the economy and making life more affordable for Canadians. The Fall Economic Statement will invest in helping students, in jobs and skills training, and in support for workers. With these investments, local economies and small businesses will continue to see the benefits. Small business expansion creates more job opportunities and plays a key role in building an economy that works for everyone. This investment supports Javaroma's scaling-up and expanding their market, while also helping with downtown revitalization by drawing customers into the YK Centre Mall."

-  The Honourable Dan Vandal, Minister of Northern Affairs, PrairiesCan and CanNor

"Business owners across the NWT have faced economic challenges during the pandemic and yet have found ways to adapt and innovate. With the help of CanNor funding, Javaroma's expansion illustrates how support for businesses helps them reach beyond recovery and towards new growth opportunities. We will continue to support small businesses and ensure they have the resources they need to succeed."

-  Michael McLeod, Member of Parliament, Northwest Territories

"With the help of CanNor's programs, we were able to stay open during and after the pandemic, and now, with CanNor's support, we are able to expand to a fourth location where we will be able to improve sales, increase business revenue, and create four new jobs to support our daily operations."

-  Rami Kassem, Owner/manager, Javaroma Gourmet Coffee & Tea

Quick Facts CanNor will provide

$86,602

in funding towards a one-year business expansion project with a further investment from Javaroma Gourmet Coffee and Tea. The total cost of the project is

$173,204

. Once operations begin at their new location in the YK Centre Mall, Javaroma anticipates improved sales, increased business revenue and four new jobs being created to support daily operations. Inclusive Diversification and Economic Advancement in the North (IDEANorth) makes foundational investments in economic infrastructure, sector development and capacity building to help position Northerners in the territories to take advantage of

Canada's

innovation economy.

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SOURCE Canadian Northern Economic Development Agency (CanNor)

For further information: Kyle Allen, Press Secretary and Communications Advisor, Office of the Minister of Northern Affairs, PrairiesCan and CanNor, [email protected]; Barbara Abramchuk, Communications Advisor, NWT, CanNor, [email protected]

Source: Newswire.CA