The statement is - True.
The colonial countries were organizing different types of colonies on different places, depending on the conditions the place was providing. The colonies in the northern and colder parts were colonies that were making a lot of profit from the fur trade because there were vast forests with lots of wildlife that provided high quality thick fur. On the other hand, the colonies further south, were mostly used for plantations, like tobacco and sugar cane, because the conditions were suitable for it and they were also highly demanded and profitable.