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Inuvik, Northwest Territories, Overview Inuvik was established in 1958. Its name literally means "living place," ...
Inuvik, Northwest Territories, Overview
Inuvik was established in 1958. Its name literally means "living place," founded as a base of development and administration to bring education, culture, medical care, and new opportunity to the people of the western Arctic, according to the town's history. Inuvik connects the western Arctic to southern Canada.
Today, its population of 3,463 people makes Inuvik the largest town north of the Arctic Circle. The area is also a hub for the oil and gas industry, acting as the main headquarters in the Beaufort Sea and Mackenzie Delta.
Because of its locale, Inuvik was viewed as a promising centre for oil and gas industry development. However, lower demands for exports and a decrease in mining operations and producing fields have caused the town's leaders to seek economic opportunities in other areas. The town has faced a variety of challenges, including high utility rates, increasing heating prices, and a decreasing population.
Inuvik, Northwest Territories, Job Opportunities
Officials recently released an economic study noting opportunity exists for growth in Inuvik.
In 2011, studies showed that the top three industries by labour force in Inuvik were in public administration, construction, health care, and social assistance. Other key industries are education, retail trade, and transportation and warehousing. These jobs require varying degrees of experience and education. Employees may demand licences for regulated industries and certifications for jobs in unregulated sectors.
Inuvik, Northwest Territories, Employment Trends
In the coming years, Inuvik is working on projects that could bring more than C$4.5 billion in new investments to the area. An agreement between the Government of the Northwest Territories (GNWT) and Canada's federal government is also expected to create revenues from territorial mining and resource development.
Overall, these developments are projected to create a 31 percent growth in territorial gross domestic product (GDP) by 2018.