IQALUIT, NUNAVUT -- (Marketwire) -- 05/24/12 -- The Honourable Leona Aglukkaq, Minister of the Canadian Northern Economic Development Agency (CanNor) and Minister of Health today announced funding that could lead to the development of a port in Rankin Inlet, Nunavut.

"The construction of a port at Rankin Inlet would help bring jobs, growth and long-term prosperity to the community and the Kivalliq region," said Minister Aglukkaq. "Developing a business case is a first step in this important infrastructure project."

"This is a major step for increased development in our community," says Rankin Inlet mayor Pujjuut Kusugak. "A port facility would help businesses and their customers in our community and the region by lowering costs and supporting shipping companies to be more efficient. This investment would also help show that the North is ready and willing to help industry move forward."

This investment is to develop a business case to assist Rankin Inlet in considering the strategic business options for the port. The business case will cover construction, implementation, operations and the sale of logistical services for the port. Development of a port has been identified as a key priority by the Hamlet and has the potential to make the community a hub for the region and to attract long-term investment.

This investment is funded by CanNor's Community Economic Opportunities Program (CEOP), which provides project-based support to First Nation and Inuit communities for community-based economic development in Nunavut, Yukon and Northwest Territories.

CEOP is one of several economic development programs within CanNor. CanNor is responsible for coordinating and delivering Canada's economic development across the North, and for related policy development, research and advocacy.

For copies of CanNor news releases, visit: http://www.cannor.gc.ca.

For more information on Canada's Northern Strategy, visit www.northernstrategy.gc.ca/index-eng.asp.