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Investing in Yukon Business, mining, tourism, manufacturing, and renewable resource industries all play a significant role in the economy of the Yukon! Enterprising
businesses and investors point to the reasons why they look to the
Yukon for investing: Over 2,100 businesses currently operate in all sectors, and as the economy steadily grows so do the business opportunities. Small companies fuel this growth; 90 per cent of Yukon businesses employ fewer than 15 people. Consider the population of the Yukon is just under 31,000—Yukoners are industrious people! Some Facts
In February 2001 - 75.0 % of working age Yukoners were participating in the labour force. This is down from 75.6% in the same month last year. The unemployment rate in February was down 0.6 % from February 2000 at 12.2%. Since January 2001 the Low: Alta. 4.6 %by 300 and the unemployment rate decreased by 1.9 % from the previous month.
Self-employment for the month of February has remained unchanged compared to last year. In February 2001 there were 2,700 persons classified as self-employed by the Yukon Labour Force Survey. However, there has been a decrease of 200 persons employed as private sector “employees” over the year. According to the survey, since February 2000 the number of people employed in the private sector has decreased by 200 and the number of persons employed in the public sector has increased by 100.
*based on the monthly Yukon Labour Force Survey - totals may not add due to rounding
The drop in the population in the last year was largely due to a decrease in the number of people in Whitehorse to 22,649. The 230 person population drop in the capital city accounted for 44.5% of the total territorial drop. The annual average population of the territory dropped 1.3% from 1999 to 2000 to 30,776. This is still 4.8% greater than it was a decade ago in 1990.
The goods producing industries had the highest average weekly wage of $934.24 in November 2000. Since November 2000 average weekly wages in the goods-producing industries increased by $47.79 or 5.4 %. Other
sectors' changes in earnings include:
The 0.1% increase in prices from January to February can largely be explained by increases in the prices of processed meats, travel services, and inter-city transportation as well as increases in home entertainment equipment, household appliances, restaurant meals and women's clothing. Partially offsetting much of this increase were lower prices for non-alcoholic beverages, men's clothing, fresh vegetables, beef, gasoline and fuel oil In an annual comparison, since February 2000 the price of all components of the CPI have increased. The largest was energy which increased by 11.3 %. The lowest price increase was in household operations and furnishings which increased only 1.0% over the year. The highest rate of inflation in Canada for February 2001 was 3.6% in Alberta. British Columbia experienced the lowest rate of inflation in February at 1.1% - the low BC inflation rate was mainly due to a on BC Hydro credit on electricity bills which had the effect of reducing the BC electricity index to 0.0%.
Annual total retail sales are estimated at $343.6 million, an increase of 4.3 % over 1999. Nationally retail sales grew 7.2 % between January 2000 and January of this year.
Lumber* exports in 2000 accounted for sixty per cent of the value of Yukon goods exported internationally. Lumber exports in 2000 were $11.1 million compared to $8.1 million in 1999. Some
other goods exported internationally from the Yukon in 2000 include: The total value of Yukon's international goods exports in 2000 was 23.6 % greater than what it was in 1999. * The term lumber refers only to the HS Classification 440710 Lumber (Thickness>6mm) - Coniferous Wood. Other types of lumber and wood are not included and their values are specified elsewhere.
The value of real estate transactions in the Yukon for the fourth quarter of 2000 increased by 15.1 % from the fourth quarter of 1999. In Whitehorse, the value of transactions increased by 3.1 %, while in the rest of the Yukon the value of transactions increased by 63.1 %. The average selling price of a home in Whitehorse decreased by 5.4 % from $152,000 in the fourth quarter of 1999 to $143,800 in the third quarter of 2000.
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The value of residential permits increased by $76 thousand in February
2001 from the year previous to $319,520
The number of visitors in January 2001 is up by about 11% over last January's figures. note: These figures do not factor out commercial traffic and only include international border crossings through HIGHWAY Canada Customs facilities. i.e.: does not include air or marine arrivals and does not include visitors entering the Yukon from another Canadian province or territory.
The Yukon is famous as the land of Klondike gold and rich wilderness adventure. This golden past promises an equally golden future. The Yukon territory has many competitive advantages to offer investors at the start of the new millennium. -
A skilled and well-educated workforce; These advantages create an excellent investment climate and a beautiful place to do business.
A
Government Committed to Business
The
Experience You Are Looking For
- Yukon people have worked in the natural resource industry for over 100 years. From forestry to mining, generations of families have shared trade techniques to develop the Yukon advantage of hard work and the ability to adapt to the changing world. The people have the northern expertise to work in remote, cold-climate conditions. - Of the current adult population, 50 per cent have undertaken some form of post secondary education, including university degrees, trade certificates, diplomas and college-level education upgrading courses. - Yukon people are adaptable, creative, entrepreneurial and innovative - making this a prime location for knowledge-based industries. There are a number of graphic designers, artists, animators and Internet companies involved with new media technologies. Yukon people have the skills to produce high-quality CD-ROMS and provide interactive multi-media services. - The Yukon is home to a large number of artists, writers, publishers and musicians who are drawn to the territory by its inspirational landscapes. - Eighty-one per cent of the Yukon's working-age population is active in the labour force. - Yukon has a young population. The average age in Yukon is 34, with 71 per cent of the working population under 45 years of age. - The Yukon is home to a number of cultures, sharing their unique traditions and customs to create the diversity that is enjoyed in the north. People of aboriginal (First Nations) descent comprise about 25 per cent of the Yukon's population. The Yukon is also home to a vibrant francophone community Quality of Life The Yukon offers the best of both worlds - unlimited wide-open spaces and access to the amenities that larger cities have to offer. After a videoconference in Whitehorse, the capital city, with business partners around the world, a 10-minute drive will transport you to a boreal forest paradise or a hidden fishing hole.
- The Yukon has a clean, natural environment. - There are unlimited outdoor recreation options, such as golfing, cycling, hiking, kayaking, fishing and softball in the summer. Popular winter activities include curling, downhill and cross-country skiing, snowboarding, hockey and dog mushing. - The Yukon Arts Centre hosts many vibrant concerts and theatre productions in a modern, fully equipped facility. - Music lovers can enjoy a full range of musical performances, from visiting symphony orchestras to rock and roll, country and jazz. There are a number of nightclubs and lounges that feature live music on a nightly basis. - Whitehorse has a number of fitness and recreational facilities and many communities have a swimming pool.
- The Yukon has among the lowest personal income tax rates in Canada. - There are plenty of modern homes to choose from. In the Whitehorse area, the average price for a house is $ 152,400. Numerous rental options are also available. - The Yukon is a great place to raise a family. Children and young people can participate in a full range of team sports and take lessons in everything from ballet to tae kwon do. - Whitehorse has a new hospital facility with up-to-date equipment and highly trained staff. There are health centres and nursing stations that provide 24-hour care in the rural communities. - The Royal Canadian Mounted Police (RCMP) provide policing services in the Yukon. Preventing crime in Yukon communities is important to the government and RCMP. Both organizations work together on a number of community-driven crime prevention initiatives.
- There are 28 public schools in the territory. Students in Whitehorse also have access to French immersion, French language and Catholic schooling. In addition there are a number of daycare centres for young children. - Yukon College has a large selection of courses for both the working professional looking to upgrade their skills and full-time students wanting to establish a career. The college's main campus is located in Whitehorse, with smaller campuses offering a wide array of courses in communities across the territory.
- Some areas of the Yukon experience 24-hour daylight during most of the summer. The summer solstice, the longest day of the year, is June 21. - June 21 is also the day of the commissioner's Potlatch, held at Rotary Peace Park in Whitehorse. It is a daylong celebration of Yukon aboriginal culture, with traditional dancing, storytelling, a feast and many other events. - Whitehorse hosts the Yukon International Storytelling Festival in June. The festival is a celebration of the oral traditions of Yukon aboriginal cultures, welcoming storytellers from around the world. - Both Dawson City and Haines Junction host summertime music festivals featuring a wide variety of musical talents. - You can try your luck at Diamond Tooth Gerties in Dawson City. The casino, open during the summer months, was the first legalized gambling operation in Canada. - Athletes from all over North America participate in the Chilkat International Bike Relay from Haines Junction, Yukon to Haines, Alaska each June and in the International Road Relay from Skagway, Alaska to Whitehorse, Yukon each September. - Paddlers from around the world can compete in the grueling Yukon River Quest, one of the world's longest canoe races.
- Every winter, Yukon people experience a natural phenomenon more spectacular than any fireworks display. On clear winter nights, the aurora borealis, or northern lights, can be seen dancing across the blackened Yukon sky. - To combat the winter blues, the Frostbite Music Society presents the annual Frostbite Music Festival in Whitehorse. - Yukon Sourdough Rendezvous is a mid-winter festival designed to cure "cabin fever" with contests, dances and performances. - Yukon Quest Sled Dog Race, the toughest sled dog race in North America, runs 1,600-kilometres between Whitehorse, Yukon and Fairbanks, Alaska, in February. In March, mushers can take to the trail from Dawson City, Yukon to Eagle, Alaska, in the Percy DeWolfe Memorial Mail Race.
Yukon's
Natural Surroundings
- The Yukon's mountains are its number one asset. The territory sits in the Canadian Cordillera, a series of ranges and valleys along the northwestern coast of the continent. - Kluane National Park, an UNESCO World Heritage Site, is home to Mount Logan, the highest point in Canada, and located in the St. Elias Mountains in southwest Yukon. This range also contains the world's largest non-polar icefield.
- The Yukon is home to Canada's second longest and North America's fourth-longest river, the Yukon River, from which the territory derives its name. - The Yukon also has 200 kilometresof coastline along the Beaufort Sea and one Arctic island (Herschel Island), located five kilometres off the north shore.
- The Yukon is one of the last frontiers where you can view wildlife in its natural habitat. The territory is home to seven species of large mammals including North America's largest population of grizzly bears and Dall sheep. The territory is also home to wolves, mountain goats, black bears, moose, elk and caribou. - There are also 254 species of birds and 38 species of fish. The Yukon is a major migratory route for trumpeter and tundra swans, snow and Brant geese and other birds.
- The Yukon's vegetation can be classified as sub-arctic and alpine. The territory hosts a number of ecosystems including tundra and boreal forest. - White spruce, black spruce, lodgepole pine, tamarack, aspen and balsam poplar are the most common tree species in the Yukon. - There are more than 200 species of wildflowers. Arguably the most visible is the magenta fireweed, the Yukon's official flower, but wild forget-me-nots, mountain avens, moss campions and orchids also flourish. - If mushrooms are more your pleasure, wild morels grow in old forest fire areas, particularly in the year following a fire.
Industry The Yukon territory is a vast land of mountains, lakes and rivers renowned for its beauty and a wealth of natural resources. The world famous Klondike Gold Rush brought fortune seekers here at the turn of the 20th century. Today, gold is but one of Yukon's mining stories. Other minerals actively being explored and mined include lead, zinc, copper and silver.
Yukon's forest products sector is also gaining momentum. The territory's high-quality, fine-grained wood appeals to overseas investors, as do Yukon's locally manufactured wood products such as fine furniture, wood laminate stock, and lumber. Many industries in Yukon count on a healthy store of renewable natural resources. Energy for most of the Yukon is currently provided by two hydro dam facilities augmented by diesel as required. Alternative sources being explored include wind and solar power. Recently, Yukon has experienced tremendous growth in small scale renewable resource manufacturing such as farming (livestock, vegetables, grains), fish-farming, trapping, craft and furniture. Growth is also increasing in alternative areas such as hi-tech and cultural industries. Come and discover Yukon's opportunities!
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Economic
growth;
Canada's best-kept secrets. This young territory is one of the last
great frontiers left in the world with an abundance of natural resources
and untapped business potential.
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Yukon
people and visitors use the territory's 4,480 square kilometres
of freshwater for activities like fishing, kayaking, canoeing and
white-water rafting, during the summer months. 