The Board of Directors is responsible for directing the operations of Prosper NWT, formerly known as the Northwest Territories Business Development and Investment Corporation (BDIC), taking into account sustainable development and capacity building. Prosper NWT’s mandate is to support the economic objectives of the Government of Northwest Territories in a manner that benefits the people and the economy of the NWT by encouraging the creation and development of businesses; providing financial assistance to businesses; directly investing in businesses; and providing information and support to businesses and members of the public.

Prosper NWT Act (NWT)

The Corporation has a Board of Directors consisting of a minimum of 5 and a maximum of 10 eligible persons appointed as directors by the Minister.

There are no alternate members.

The legislation does not provide for the appointment of alternates to the Board.

Directors are appointed by the Minister Responsible for Prosper NWT under section 5 of the Prosper NWT Act (NWT).

Meetings are held in person or conducted using electronic means of communication.

Members shall receive remuneration according to Executive Council classification and Financial Management Board Secretariat directives.

Category – Regulatory/Quasi-Judicial

Chairperson - up to $400 per day

Member - up to $325 per day

Chair and members – 50% per half-day (i.e., 3.5 hours or less), for work on board business for each day of meetings

Persons eligible for appointment are those who have owned or managed a business in the Northwest Territories or have business expertise relevant to the NWT. Where appropriate, the Board must take into account sustainable development and capacity building in its consideration.

The Board establishes bylaws, policies, operational guidelines and committees.

A public servant is not eligible to serve as a director.