Strategic Plan
Northern Development’s Strategic Plan outlines the mandate, vision, mission, goals, objectives and programs of Northern Development Initiative Trust.
Vision
The Board of Directors of the Northern Development Initiative Trust holds a vision of the future for the Trust regions:
Northern BC has world-class industries, diversified regional economies and growing, energetic communities
Mission
The Board has formulated their mission to express how they see the Northern Development Initiative Trust as contributing to this vision of northern British Columbia.
To be a catalyst for northern BC to grow a strong diversified economy by stimulating sustainable economic growth through strategic and leveraged investments
Northern Development Initiative Trust Goals
Northern Development Initiative Trust’s primary goal is to directly and through leveraged investment, bring between $1 and $2 billion into communities of the region to aid in realizing their economic potential by 2020, and to have a sustainable base of $185 million to do it again every decade.
This goal entails achieving the following results by 2020 or sooner and progress will be reported annually:
- Over 2,000 funding partnerships and 1,000 projects by 2020
- Creation of 10,000 jobs by 2020
- 100% of communities engaged and positively impacted
- Leveraging ratio of at least $2.50 from other sources for every $1 invested in projects
- Return on Investment (ROI) of 6% on invested funds
- Average Return on Investment (ROI) of 5% annualized on cash flow out to projects divided by the starting capital base of the Trust
- To enable the hiring and training of at least 1,000 grant writers, and provide funding support to increase capacity for forty community economic development programs annually
- To facilitate the establishment of 2,000 additional hectares for industrial development
- To streamline the “get to yes” process to less than ninety days for a complete application
- To have projects in every mandated area of the legislation
- To engage the private sector (business/investment dollars) in over 30% of all projects
- Strategic leadership and advisory/facilitation services for the region
- To know the top economic development opportunities in each region and provide exceptional client service
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