Transcript the presentation

Presentation given by
Makivik Corporation
FIESS 2011
Montreal, Quebec
October 19, 2011
The Nunavik Region
 North of 55th parallel of the
 Inuit of Nunavik pay income and
Province of Quebec or 505,000 consumption taxes as any other
square Km (1/3 of Quebec)
person in the Province.
 No road links to the region
 Population of around 11,000
(90% Inuit)
 57 % of the population under
25 years old
 14 villages of 160 to 2,500
inhabitants
Social Economy in Nunavik
GDP $ 291 Million (2003)
 Sales Volume $ 243 Million (SE organizations)
 84% created by social economy organizations
compared to Quebec 6%.
 Full-time jobs 3,189 (2005/06)
 53% public or parapublic
 47% private or social economy (at least 17%
social economy Org’s).
 Survey not complete. Certain companies have dual roles.

Makivik Corporation
 The History of Makivik Corporation:

Created under the JBNQA 1975

Represents the Inuit Beneficiaies of the JBNQA

To develop the regions economy through means of
investments and joint ventures
Makivik’s Corporate Objectives

To receive, administer, use and invest the compensation money
intended for the Inuit, as provided for in the James Bay and Northern
Quebec Agreement (1975) and the 2002 Partnership agreement
signed with Quebec.

NILCA 2007

To relieve poverty and to promote the welfare, advancement, and
education of the Inuit.

To foster, promote, protect and assist in preserving the Inuit way of
life, values and traditions.
Makivik’s Corporate Objectives

To exercise the functions vested in it by other acts or the agreement.

To initiate, expand and develop opportunities for the Inuit to
participate in the economic development of their society.

To develop and improve the Inuit communities and to improve their
means of actions.

To assist in the creation, financing or developing of businesses,
resources, properties and industries.
How does Makivik meet its’
Economic Development
Objectives

Invest in stock and money markets.

Invest in wholly-owned subsidiaries and Joint-Ventures.

Foster and Fund Socio-economic projects in communities.

Create employment through its subsidiary companies and jointventures.
How does Makivik meet its’
Economic Development
Objectives

Market and promote Nunavik products through such companies
as Nunavik Creations and Nunavik Furs.

Build local infrastructures such as recreation centres, FM
stations, marine infrastructures and housing.

Ensure beneficiaries get their tax refunds through the Income
tax department.
FUNDING

Provide donations to various community programs (cumulative
donations of $ 95 Million in 2009).

Sanurritik Contributions - $ 55 Million since 2002

Excess of Revenue/Expenditures - $ 180 Million

Beneficiary Equity - $ 305 Million plus

Always seeking outside funding – Since this is an heritage fund.
Programs Examples

Nunavik Annual Artistic Workshops.

Nunavik Arts Secretariat

Heating oil subsidy program.

Inuit Clothing and Fur Fund.

Air Inuit beneficiary rates.
Wholly Owned Subsidiaries
First Air
Air Inuit
Nunavik Creations/Furs
Nunavik Biosciences
Nunacell Inc.
Wholly Owned Subsidiaries
Construction Division
Nunavik Geomatics
Joint Ventures
Pan Arctic Logistics
Unaaq Fisheries
Nunavut Eastern Arctic Shipping
Economic Development Issues

High transportation costs , High cost of living & need of
infrastructures.

Amplified by taxes paid on cargo and the recent increase in fuel
prices.

Young population (57% Under 25 years).

Need for more training : Capacity building

Need for the youth to finish post- secondary schooling.

Traditional Economy : Becoming expensive to practice.
Development Sectors
 Energy
and Hydro-electricity
 Mining
 Wildlife
sectors/Traditional
Economy
 Tourism
 Bio-food sector
Conclusion

Makivik Corporation is well positioned to ensure the economic
growth of Nunavik.

As you can see it has expertise in many fields of activity.

Always looking for new ventures with potential partners.

Ready to face the future despite the challenges it faces.

Land Based Economy very important (most smaller villages).

Working on Plan Nord with Government of Quebec.
Merci
Thank You
Nakurmik /Nf3ü4