In 1973, the Department of Industry and Development was renamed the Department of Economic Development and was restructured to respond more effectively to the traditional and modern economies of the Northwest Territories.
The Department of Economic Development was responsible for promoting and developing economic growth in the Northwest Territories. In addition, the department was responsible for establishing employment opportunities for all Northern residents and assisting the Indigenous people to participate in and benefit equally from the increased scale of economic activity throughout the Northwest Territories. The department encouraged and provided for the development of the tourism industry at the local level through grant programs aimed at communities that would assist them in realizing the economic benefits of tourism. It also provided training in management and hospitality, developed public tourism facilities and promoted traveling in the north through advertising and other promotional material. The Department of Economic Development was also involved in the promotion of commercial and industrial development by encouraging the establishment of primary and secondary industries that would provide economic benefit to northern residents. Furthermore, the department participated with the Department of Indian and Northern Affairs in planning for the exploration and development of non-renewable resources for the benefit of residents of the Northwest Territories.
The Tourism Division consisted of the Development and Promotion sections. The Development section was involved in the expansion and control of the tourism plant and services. It developed and regulated public tourist facilities and encouraged remote Indigenous community involvement in the tourism industry by providing training and grant programs that assisted in the construction of tourist accommodations or renovations to existing facilities. The Promotion section promoted visitor travel to and within the Northwest Territories through advertising, publicity, trade shows and provision of travel counseling services.
The Industry and Commerce Division was made up of five sections; the Business Development section was responsible for identifying economic opportunities throughout the Northwest Territories and for conducting feasibility studies with regard to such opportunities and the encouragement of investment to take advantage of these opportunities. The Financial Assistance section processed and reviewed applications for loans from loan funds administered by the department. This included the Small Business Loan Fund, the Eskimo Loan Fund, and the Fisherman's Loan Fund and in collaboration with the Federal Department of Indian and Northern Affairs-the Indian Development Fund. The Project Operations section provided financial control and management monitoring and supervision to the range of productive enterprises for which the department was responsible, including the sale of finished products. The Co-operative section assisted in the development of co-operatives, regulated and monitored the operation of co-operatives and provided advisory support to individual co-operatives and to the Canadian Arctic Co-operative Federation. The Arts and Crafts section provided support and information to artists and artisans in how to do business with dealers and collectors inside and outside the Northwest Territories.
The Game Management Division was made up of five sections. The Trapline Management section planned, developed and implemented educational and management programs and projects designed to maximize the utilization of the fur resource and to increase the economic return to the trapper. The Big Game Management section planned and implemented programs that properly managed and utilized the big game resources and protected these resources. The Research section planned, developed and implemented a research program in support of trapline and big game management and conducted studies on endangered animal and game species. The Regulations section developed and enforced game laws and regulations and the Fishery Development section assisted in the development of a strong sport and commercial fishing industry that would benefit northern residents. In 1975, the Game Management Division was transferred to the Division of Natural and Cultural Affairs.
The Petroleum Resource Development Project was moved from the Executive Secretariat to the Department of Economic Development in 1975. This project group provided a coordination and liaison service to the departments of the Government of the Northwest Territories on matters relating to the Mackenzie Valley Gas Pipeline proposal, the Mackenzie Highway and the Beaufort Delta Oil Project. The Project Group also had overall management responsibility for the Hire North Project. This project was established to provide training and employment opportunities on the Mackenzie Highway construction project, for the indigenous people of the area.
The Employment Division transferred from the Department of Local Government to the Department of Economic Development in 1975. This division was responsible for determining needs, developing strategies and administering programs directed at increasing employment levels and employability of Northern residents. This division provided an employment and training placement service, offered advice on program needs and created strategies to overcome employment problems of Northerners. Furthermore, the division developed, coordinated and administered programs, operated employment counselling services throughout the Northwest Territories and developed and administered programs designed to solve short or long term unemployment problems at the community level. This division delivered the Apprenticeship program, which delivered programs for developing skilled tradesmen. In addition, the Territorial Employment Record and Information System (TERIS) was also administered by this division. This system developed a manpower and skills inventory for the Northwest Territories labour force which was utilized as a vehicle between labour supply and labour demand by ensuring employment opportunities be made available to potential northern candidates.
In 1976, the Tourism Division and some sections of the Industry and Commerce Division combined services and formed the Business Services and Tourism Division. The Financial Assistance sector provided assistance through the Small Business Loan Fund and Eskimo Loan Fund and provided counselling for applicants seeking loans. The Co-op Development section provided general business counselling to new or developing businesses and regulated and monitored the operation of co-operatives and provided advisory services to co-operatives and to the Canadian Arctic Co-operative Federation. This division also promoted travel in the Northwest Territories through promotional trade shows and advertising and also developed tourist facilities and maintained parks in the Northwest Territories.
The Project and Marketing Division also emerged at this time and was responsible for the planning, development and overall management of the department's commercial, industrial and crafts projects, as well as for the marketing activity. The Arts and Crafts program provided development, planning and counselling services to Inuit and Aboriginal artists and artisans and published information about northern arts and crafts to dealers and collectors within and outside the Northwest Territories. The program also focussed on training local people to assume a managerial role in craft operations. The Marketing program worked with the Arts and Crafts activity to assist in the marketing of finished products and to exhibit northern arts and crafts and trade shows, events and through catalogues.
The Research and Evaluation Division was responsible for providing economic research services within the government and to other organizations and individuals in the private sector. This division researched and planned new economic development projects and promoted the development of resident businesses. In addition, this activity prepared economic statistics, conducted economic analysis of existing and proposed projects and provided technical information on non-renewable resources development.
In 1977, the Department of Economic Development was renamed the Department of Economic Development and Tourism.