Thank you, Madam Speaker. There is a group of Inuit in Coppermine who have established a local development corporation, Illaut Investments Incorporated. On Wednesday, February 16, the shareholders held their first annual general meeting. Madam Speaker, this group of individuals has been struggling since early 1992 to establish itself. During my election campaign in early 1993, I was asked and agreed to support and assist the group. Since late last year, I have actively become involved in providing advice and encouragement to them.
These individuals are long-term residents of Coppermine who have developed a desire, like many other aboriginal people in the NWT, to become involved in the private sector. The shareholders have invested $500 each, which may not seem to be a lot of money to some of us who have well-paying employment, however, to many of these shareholders, becoming involved in business for the first time, the $500 investment of their hard-earned and limited financial resources is a major financial commitment.
Madam Speaker, the Honourable Minister of Economic Development and Tourism, through his department, has now provided funds for a consultant to work with the group, to develop a work plan and identify possible business ventures which the group can possibly become involved in.
The shareholders have committed to a long-term investment. In fact, these investments are not for themselves but, they are hoping, for the benefit of their children and grandchildren. These individuals are not trying to get rich overnight or disrupt any existing businesses. They are only asking for the opportunity, as a broad-base of local individuals, to become involved in a small way in the business sector of their own community.
Madam Speaker, I urge the government to support any reasonable initiative that comes forward from this and any other group which shows a broad community-base of involvement and the initiative to pool and risk their own resources. The newly elected executive of Illaut Investments Incorporated are: Mrs. Elizabeth Joss-MacDonald, president; Mrs. Joanne Taptuna, vice-president, Mrs. Annie Kellegok, treasurer, Ms. Rosie Kagak, secretary. I congratulate these ladies and the rest of the board members elected to pursue the interests of all the shareholders.
Madam Speaker, I will be absent from this House on Tuesday and part of Wednesday in order to meet with the consultant and the new board of directors in continuation of my support for their efforts. Thank you.
---Applause