Today, the Northwest Territories Business Development and Investment Corporation (BDIC) is excited to announce that its official name is now Prosper NWT. With the new name, the organization is introducing a new logo and visual identity that aims to distinguish itself from other business development organizations such as the BDC and convey its commitment to helping businesses thrive and prosper in the Northwest Territories.
The decision to rebrand came about as a result of research and engagement with stakeholders and a brand review completed by a northern, Métis-owned communications agency that found significant challenges with the current name, Northwest Territories Business Development and Investment Corporation and its acronym, BDIC. A major issue with the organization’s name was common confusion with the Business Development Bank of Canada (BDC) and other business development organizations in the North. The name, Prosper NWT, was chosen as the name that best resolved these issues and aligned with the vision and future strategic direction of the organization.
The organization will be transitioning its communications, marketing materials, and digital assets to reflect the new name, Prosper NWT, over the next several months.
Quotes
“The business landscape has experienced a transformation over the last decade, and it is important that the organization evolves and adapts to these changes as well. With the modernization of our legislation, I am excited to launch a new name, Prosper NWT, for the organization. The name and logo represent our commitment to helping businesses thrive and prosper in the Northwest Territories, and our work to support a bright economic future.”
– Joyce Taylor, Chief Executive Officer, Prosper NWT (formerly BDIC)
“Building a strong economic foundation is a priority for our government. This updated legislation aims to foster an environment where businesses thrive and opportunities are abundant. These opportunities will not only benefit individuals and families but also contribute to the overall prosperity and resilience of our territory as a whole. Prosper NWT, the organization’s new name, embodies its vision and aspirations.”
– The Honourable Caitlin Cleveland, Minister Responsible for Prosper NWT (formerly known as the Northwest Territories Business Development and Investment Corporation or BDIC)
Quick Facts:
- The Northwest Territories Business Development and Investment Corporation (BDIC), now named Prosper NWT, was established in 2005 to support the economic objectives of the Government of the Northwest Territories (GNWT) by encouraging the creation and development of businesses, offering financial assistance including investment, and providing information and support to businesses.
- The organization is a public agency of the Government of the Northwest Territories (GNWT) and is governed by a Board of Directors appointed by and responsible to the Minister Responsible for Prosper NWT.
- Since 2005, the organization has distributed over $124 million to businesses and has created or maintained over 1,900 jobs in communities across the NWT.
- The Northwest Territories Business Development and Investment Corporation (BDIC) undertook a review of the Northwest Territories Business Development and Investment Corporation Act and its brand, which involved engagement with 130 stakeholders and resulted in the submission of Bill 84: An Act to Amend the Northwest Territories Business Development and Investment Act.
- Bill 84, which included the new name, Prosper NWT, received assent on October 5, 2023, during the final session of the 19th Legislative Assembly.
- The organization will transition to Prosper NWT and its visual identity in a phased approach to minimize any confusion.
- Prospérité TNO will be the new name for the organization with French audiences.
Media Requests:
Leslie Dragon
Manager, Public Affairs, Marketing and Business Services
Prosper NWT, formerly known as the Northwest Territories Business Development and Investment Corporation (BDIC)
Leslie_Dragon@gov.nt.ca
867-767-9075 ext. 86002
Web: www.bdic.ca (to become www.prospernwt.ca)