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Northern Trust Celebrates Successful Year

By 250 News

Thursday, March 22, 2007 03:56 AM

The Northern Development Initiative Trust  is  giving itself a pat on the back following a year that saw the  "Trust" loan or fund $28.1 million dollars to  projects valued at $177 million.

While the  Northern Trust  Annual report  won't be available  on  the NDI Trust website until  April, it  is spreading the word now about some of the successes.

In addition to the $11 million dollars loaned to the Prince George Airport Authority for the  cargo expansion project, the  Trust is  announcing  several other projects in the 250:

Lilloet: $17,600 grant to develop a DVD profiling the community, a website and signage focused on attracting increased tourism. The balance of the $61,600 project will be funded by the community.

Kersley Community Association:  $30,000 grant to help expand the Kersley Hall and set up a summer performing arts program.

Cache Creek Chamber of Commerce:  $4,900 grant to erect billboards at the Hat Creek Ranch at the Highway 97/99 junction to provide travelers with tourism service information.

Telkwa was approved for a grant and loan totaling $350,000 on a $2.1 million project to upgrade its water infrastructure and lift moratoriums on new commercial, industrial and residential subdivision development.

Fraser Lake  $30,000 grant on a $773,000 project to renovate its recreation arena facility to year round use and all-season event hosting.

According to the NDI Trust , all of the projects approved in the past year,  translated into 141 construction jobs and 36 full time new jobs.  The Trust says the  projects  have had an impact on the region, as more than $11 million dollars  in payroll and benefits  flowed into the econonmy,  and  7 new businesses, linked to  Northern Trust projects, were started in small communities.

 


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Comments

So 28 Million in one year yielded 36 full time jobs, so thats about 780,000 per job. So that times the 2000 or so jobs that will be lost in PG alone is 1.56 Billion. Wow now get that funding and we should build our own new industry ! I like someone else's suggestion to get in to pharamedical area. Would be a natural fit with the University and our teaching hospital and with the new bigger runway we can attract scientist from all over the world here.

That comment is sort of tongue in cheek but not really. Instead of spending the fund on helping make a recreation centre or billboards ( Something the various levels of government should be doing ) we nned someone in charge of the fund who actually has an idea, a vision of something major.
Yea, like building another casino and bingo hall.
I thought this fund was supposed to be for the communities effected by the sale of BC Rail? Cash Creek, Lilloet? Is it now a north of Hope kind of fund?
Is there no end to the number of government departments, agencies, and what have you, which spend taxpayers' money on behalf of the government? What are we paying our civic, provincial, and federal politicians for? I think its time we switched to a flat tax system, and eliminated all of these spending programs which help special interest groups and cost taxpayers a small fortune to administer. The bigger government gets, the more wild spending schemes they come up with to spend taxpayers' money.

With the upcoming economic and pine beetle crunch in Prince George, we have to attract businesses here. The only way to do this, is to offer them (and everyone
in town to keep them here) a lower tax rate. This is the only reason why any business would choose to move to Prince George.
Chadermando ..... you asleep at the wheel?? ... I could swear the last time I drove south via the Duffy Lake Road that I passed through Lillooet and by the BCR line going along Seton Lake. So, would that area not be affected by the sale of the BCR? In fact, Whistler would be affected as well. I think that is why some money from the fund is finding its way to the Olympics....

;-)
Your right on the geography owl,but how much do you think the sale of BCR would have affected Whistler in general? I am betting very little.But I do agree that some of this money is finding it's sneaky little way to the Olympics.And I don't think this is the only money that is ending up there by the back route!
I agree with Charles. Who knows who gets the money who spends it or where it goes?

The 11 Million loaned to the Airport Authority by the NTI is a good example of money gone wild. Lets see if we can follow it:

(1) Sale of BC Rail for $ 1 Billion

(2) Create the Northern Trust Inititiave and give them $ 137 Million to distribute among the *needy* citys in the Interior.

(3) Northern Trust In. loans $11 Million to the Pr George Airport Authority. Which was established by the Federal Government to run the Federally owned Airport.

(4) Airport Authority will use the 11 Million from NTI, and an additional 11 Million from the Federal Government, and hopefully an additional 11 Million from the Provincial Government to make a $33 Million expansion of the Airport Runway that is owned by the Federal Government.

(5) The load from the NTI to the Airport Authority has an interest charge pegged at the rate of inflation. If in fact the Airport Authority has received this money and deposited it in the Bank then they are making more interest on the loaned money than the people who loaned it to them. Only in situations where all the players are either Government Employees, or Government appointed board members would you ever come up with such a convoluted, asinine, incongruous, scheme, where at the end of the day, if you care to follow the logic what you have is'

The Provincial Government through the NTI and Airport Authority loaning money, and giving money to the Federal Government to expand the Runway that is owned by the Federal Government.

Figure that one out.