Thank you, Mr. Speaker. Through conversation with other Members, I have come to realize the economic realities we’re facing in Hay River, the territory's second largest community, aren't well known outside of the town. Even though this Assembly is in its infancy, the decisions we make in the coming months will have both immediate and lasting effects. Because we need to make informed decisions, I want to provide all of my colleagues with some context regarding the fragile state of Hay River's economy. The economic downturn is evident all over the territory. However, there are certain communities that are more insulated from market forces because of a large government presence. For those places, the slow economy may be somewhat of an abstract idea. In Hay River, the downturn is palpable, and at the forefront of many residents' minds. Whether it is during the week or it is a Saturday night, there is a noticeable lack of people in stores and restaurants and nightclubs or out enjoying the nightlife, especially when compared with the bustle of somewhere like Yellowknife. There are multiple retailers and distributors that I have talked to that are fixtures in the communities whose sales are down 30 to 40 per cent from last year. I have lost track of how many businesses have closed down in the past few years and haven't been replaced. Major employers in town are scaling back hours, cutting shifts, and sending employees home early on a regular basis.
Every time I have come to Yellowknife since being elected, I have returned home to learn about more layoffs. I don't mean two or three layoffs, I mean ten jobs lost, 30 jobs lost, 40 jobs lost. We can't continue to absorb those kinds of numbers. I hate to say this, but a statement I hear more and more from residents is that Hay River is dying. I can assure everyone that Hay River is not dying. However, we are at a critical juncture, where our fortunes could swing either way based on the decisions made in this House. I am optimistic about the future of Hay River's economy. I see the potential. There are projects on the horizon that will do great things for the town. We are in the process of revitalizing the fishing sector and there are emerging sectors like renewable energy, manufacturing, tourism, and agriculture that hold great promise for the territory and Hay River.
I also see the entrepreneurial spirit shining through. Because of the lack of traditional business opportunities, entrepreneurs are exploring new and exciting opportunities. In order to capitalize on this potential, it is imperative that we invest in the community, keep people working, and get people working. The people of Hay River are not naive. We understand the fiscal reality and know that difficult decisions need to be made. However, I want to ensure that my colleagues recognize the fragile state of Hay River's economy and consider that when making decisions that will impact the town. I invite all my colleagues to discuss it further with me if they wish. I look forward to working with Cabinet and the Regular Members in the coming months that will develop a plan to benefit both Hay River and the Northwest Territories. Thank you, Mr. Speaker.
