Thank you, Mr. Speaker. I rise today to tell the House about a very successful venture undertaken in the Keewatin region by privately, Inuit owned, development corporations.
Recognizing that a need existed for upscale office and retail space in Rankin Inlet, the Kangiqliniq Development Corporation planned a major office and business facility in August, 1990.
Partial funding was secured under the 1987 Canada Northwest Territories Economic Development Agreement. It was with considerable pride that the people of Rankin Inlet saw the official opening of the Ikingutiqiit Business Centre on February 15, 1992.
Presently, Mr. Speaker, the almost 3,000 square feet of rental space is fully leased and houses several of the communities' most successful commercial enterprises. With the expansion and development of these business interests, I am pleased to note that 11 full time and three part time jobs have been created within the local workforce. Direct economic benefits of the centre have been estimated at about $1.5 million on an annual basis.
Building on this success, the Kangiqliniq Development Corporation is now preparing to access current E.D.A. funds to expand the centre, an initiative which promises to be just as successful as the original.
Mr. Speaker, the 11th Assembly Special Committee on the Northern Economy pointed out that developing an economy is a bit like playing a slot machine, to win you have to line up four essential elements. You need the right project, the right design, the right resources, the right people.
Mr. Speaker, initiatives like the Ikingutigiit Business Centre provide an example of how local companies, owned and managed by aboriginal people can line up these essential elements in a way that results in a big pay off for the community.
As we move towards the political evolution and the economic emergence of Nunavut, this is a model that we should all keep in mind. Thank you.
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