Northern Trust Announces Newly Funded Projects

By 250 News

The Northern Development Initiative Trust has announced funding for 25 new projects worth more than $1.3-million dollars.

The most expensive project to receive backing was a venture by the Laxgalts'ap Village Government to establish a log home construction training centre in the Nisga'a community on the northwest coast of B.C..  Northern Trust's Board of Directors has approved a $325-thousand dollar loan and a $50-thousand dollar grant towards the total cost of $1.2-million dollars.  Once complete, the facility would be the first Industrial Training Authority-approved log construction apprenticeship training centre in the province.

The Smithers Community Association will receive $100-thousand dollars in Pine Beetle Recovery funding to purchase equipment for the Moricetown Supported Work and Manufacturing Centre.  Northern Trust says the goal of the centre is to create a minimum of 50 new jobs.  Once established, the centre will provide job training and work placement services, innovative uses for pine beetle timber products, and a self-sustaining business model for products and services manufactured there. 

To date, Northern Trust has committed $34.2-million dollars in funding, with a total project value of $211-million dollars.  The Board says current project leveraging is one Trust dollar to $5.16 from other sources, well above its goal of one Trust dollar to $2.50 other funding.

The balance of the Northern Trust was $199.8 million on December 31st, 2007.

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