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The Northern Economy

Economic activity in the North generates billions of dollars in export earnings and government revenues, provides significant employment for northern residents, and supports a great deal of value-added activity outside the region. Mining, forestry, and the oil and gas industry continue to be the primary economic drivers in the North, with hydroelectric, manufacturing, tourism, commercial fishing, agriculture, and traditional resource harvesting industries also making important contributions to the economy.

The following major resource developments are underway or planned throughout the North:

  • diamond mines in the Northwest Territories, Ontario and Nunavut;
  • the Nickel Rim South and Red Lake mine development projects in Ontario;
  • uranium mining and exploration in Saskatchewan and ongoing exploration in Nunavut and Labrador;
  • oil sands development in Northern Alberta;
  • the Mackenzie Gas Project in the Northwest Territories;
  • the Alaska Highway Pipeline Project in the Yukon; and,
  • hydroelectricity projects in Québec, Manitoba and Labrador.

Investment in these projects alone is expected to exceed over $100 billion, representing a significant share of Canada's total capital investment.

Provincial and territorial initiatives are in place to stimulate further northern mineral exploration and expansion, such as British Columbia's Oil and Gas Strategy, Nunavut’s Mineral Exploration and Mining Strategy and mining incentive programs in Saskatchewan and the Yukon. Other government programs support northern research, innovation and value-added activities like the Northern Ontario Heritage Fund.

The development of the northern tourism industry presents exciting opportunities to market distinct tourism products ranging from adventure travel to hunting excursions, aurora viewing to Aboriginal culture experiences, as well as a myriad of outdoor tourism activities.

It is clear that the economic potential of this region is enormous. The North already makes a significant contribution to Canada's economy. This contribution will continue to increase with the expansion and diversification of all sectors in the northern economy, providing new opportunities to further advance Canada.

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