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5 Reasons to Invest in Yellowknife

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Contacts

City of Yellowknife
Yellowknife City Hall
4807 - 52 Street
P.O. Box 580
Yellowknife, NT X1A 2N4
Map this location
P: 867-920-5600
F: 867-920-5649


1) Market Size

Yellowknife as a market is far larger than the number of people who live here. It's an industrial and commercial hub with an experienced mining-support industry serving the NWT. That means every new project - from exploration to a mine or pipeline - all bring business to the community.

2) Income Levels

Along with bringing in some of Canada's highest average household incomes, each Yellowknife household also spends an average of $103,762 per year. Given this level of spending, it's hardly surprising that Yellowknife-based franchises are often leaders in sales by outlet.

3) Access

Goods can be shipped by air, road or barge. You can travel here by driving north from Edmonton or flying on one of five scheduled daily flights from Edmonton or Calgary. The completion of the Deh Cho Bridge across the Mackenzie River means the city's now connected by road year-round to southern Canada.

4) Large-Scale Clients

The Government of the Northwest Territories (GNWT) is Yellowknife's largest employer and an important client for many businesses. In 2011-2012, counting only contracts greater than $5,000, the GNWT spent more than $260 million on goods and services.

Today, there are three diamond mines within short flights of Yellowknife. Along with De Beers' Snap Lake, there's also the Ekati mine, owned by Dominion Diamond Corp, which also co-owns the Diavik Diamond Mine with Rio Tinto.

5) Development Incentives

Both the City of Yellowknife and GNWT's Industry Tourism and Investment (ITI) offer a variety of development incentives. Of interest to businesses considering relocating to the city are tax breaks for developments increasing residential intensification in Yellowknife's downtown. There's also a Land Administration By-law that can provide contributions on specific types of development projects. For more details

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