Proponents of major projects in the Northwest Territories (NWT) must agree to keep economic benefits in the North West. The NWT is business-friendly and values the interests, cultures, traditions, and priorities of its residents. Businesses are expected to respect and include these aspects when operating in the NWT. Residents' interests, cultures, traditions, and priorities are important considerations for businesses in the NWT.

The territorial government negotiates Socio-economic Agreements (SEAs) to formalize targets for local training, procurement, wellness initiatives, and employment.

First introduced in the 1990’s, these agreements have stimulated extraordinary growth and capacity for NWT businesses and the economy. The Indigenous service sector in the NWT consists of construction, logistics, and transportation companies. These companies, supported by a local workforce, help the diamond mines in the area. More so, they have served to empower and shape Indigenous governments, and communities.

Today, we see that these agreements help the NWT become a leader in using Environmental, Social, and Governance principles. The NWT is also leading in following the United Nations Declaration on the Rights of Indigenous People.

In the NWT, business depends on good relationships between Indigenous groups and resource companies for projects to be successful.   

Conducting business in the NWT requires businesses to respect and include the interests, cultures, traditions, and priorities of NWT residents. Environmental protection, traditional knowledge and Indigenous rights are at the centre of decision making.

While meaningful relationships take more investment up front, they are proven to secure support and acceptance for projects through their full life cycle. This guarantee makes NWT a safe investment with great resources, setting it apart from other countries worldwide.

The signing of the NWT’s first comprehensive land claim in 1984 ushered in a new era for the NWT as the Inuvialuit Final Agreement established its signatories as full participants in both the economic and political life of the NWT. Successive settlements followed: the Gwich’in Land Claim (1992), the Sahtu Dene/Metis Claim (1993) and the Tlicho land, resources and self-government agreement in 2003.

Each agreement raised the level of Indigenous participation and investment in the economy, eventually transforming the NWT’s economic environment when prospects of a Mackenzie Valley pipeline and the discovery of diamonds catapulted the NWT economy to new heights.

On April 1, 2014, the Northwest Territories became the second territory in Canada to assume responsibility from the federal government for the management of its own lands and resources.

Indigenous companies are on the rise and play a pivotal role in almost every area of businesses and industry, providing significant opportunities for investment and driving the development of a skilled and vibrant northern workforce.

And with the potential for real employment and careers, NWT youth are seeing a tangible reason to stay in school and seek higher learning. They are attending southern universities and bringing their schooling home to work in the North - as educators, engineers, scientists, lawyers and medical professionals - embracing the wage economy – buying homes and investing in their future.

In the NWT, Indigenous people are taking the lead in mining and development in Canadian territory. They have agreements in place for sharing royalties, benefits, and regulations. This ensures they have a say in resource management