Three Nunavut businesses receive share of $5M from federal government
Qikiqtaaluk Business Development Corp., Saaku Investments Corp., Nunavut Fisheries among recipients
The federal government has announced how $5 million from its fund for Indigenous businesses will be spent in Nunavut.
The funding is administered through the Canadian Northern Economic Development Agency, also known as CanNor, which is based in Iqaluit.
Larry Bagnell, parliamentary secretary to Mélanie Joly, minister of economic development and minister responsible for CanNor, announced the spending in a news release issued on Monday, Aug. 9, which was the International Day of the World’s Indigenous Peoples.
The Qikiqtaaluk Business Development Corp. received $1.6 million for water and sewer infrastructure in Iqaluit. The total cost of the project is $3,221,600, with an investment of $1,668,902 from QBDC.
The project introduced water and sewer infrastructure to the Federal Road area, which was previously served by trucked utility services.
Saaku Investments Corp. will also receive $36,694 for the completion of a feasibility study for a retail gas outlet in Rankin Inlet. The total cost of the project is $73,339, with the Government of Nunavut contributing $18,322.
The Nunavut Fisheries Association will receive $20,000 to lead a study on the socioeconomic impacts of the Nunavut commercial fishing industry. The total cost of the project is $29,000, with the NFA contributing $9,000.
In total, 11 Indigenous businesses across the three territories received funding.