The Northwest Territories Business Development and Investment Corporation (BDIC) will soon become Prosper NWT: A Fresh Start for Business Growth and Innovation
YELLOWKNIFE (October 11, 2023) – Today, the Northwest Territories Business Development and Investment Corporation (BDIC) is excited to announce that it will be transitioning to a new name for the organization, Prosper NWT. After careful consideration and strategic planning, the organization will be launching the new name with a fresh and modern brand identity.
The decision to rebrand comes as a result of research with stakeholders and a brand review or audit by an external marketing and communications agency, that found significant challenges with the current name, Northwest Territories Business Development and Investment Corporation and its acronym, BDIC. The most significant challenge was that many residents confused the BDIC 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 addressed the challenges identified and aligned with the vision and future strategic direction of the organization.
The Chief Executive Officer of the organization, Joyce Taylor, stated, “The new name, along with the amendments to our legislation in Bill 84, is a significant step forward in our journey to create more opportunities and better serve entrepreneurs and business owners. Prosper NWT represents our renewed commitment to excellence, innovation, and growth. We look forward to continuing to serve our valued clients under this new brand.”
Prosper NWT, along with the amendments introduced in Bill 84, will enable the organization to be responsive to business needs in a changing landscape and to help bring greater prosperity to NWT businesses and communities. As part of the rebranding process, the BDIC will be transitioning its communications, marketing materials, and digital assets to reflect the new name, Prosper NWT, over the next several months.
- The BDIC, soon to become Prosper NWT, was established 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 the BDIC (Minister). The Board of Directors is responsible for providing strategic direction and oversight to the organization.
- The Northwest Territories Business Development and Investment Corporation (BDIC) undertook a review of the BDIC Act and submitted 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 launch the new name and visual identity taking a phased approach to minimize confusion and obsolescence costs. In addition, to provide more information on the organization, a tagline, “Financing and Business Development” will often be used with the name in the logo and/or other creative assets and communications.
- Prospérité TNO will be the new name for the organization with French audiences.
Manager, Public Affairs, Marketing and Business Services
Northwest Territories Business Development and Investment Corporation
Follow-us on X: @NWTBDIC
Web: www.bdic.ca (to become www.prospernwt.ca)
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