Report highlights Indigenous economic impact across Atlantic Canada

Report highlights Indigenous economic impact The Atlantic Economic Council presented its latest data on the economic contribution made by Atlantic Indigenous businesses and communities.

The Atlantic Economic Council presented its latest findings when it comes to just how much Indigenous businesses and communities contribute to the economy in Atlantic Canada.

The latest data, which is from 2021, showed a significant increase from the last report just five years earlier.

“With the Atlantic Economic Council, they presented an earlier study done by the ATN back in 2015/2016 and, of course, between then and now, then numbers have grown, they have increased and it could be a multitude of reasons,” said Jarvis Googoo, the Integrated Research Program Director for Atlantic Indigenous Economic Development.

“More businesses are self identifying as indigenous, so we now know who’s contributing more so. Inflation is a factor. Post COVID recovery is a factor, but our population is continuing to grow as well. Our communities are continuing to get larger and with that businesses and job creation, taxation, they continue to increase as well.”

The newest report states that the Atlantic Indigenous economy supported 89,000 jobs in 2021, which they say is almost eight per cent of the region’s jobs overall and paid $2.1B in total tax revenues.

“The information that was presented today really shows the value and added contribution that first nation communities have in the Atlantic Region,” said Chief Bob Gloade, the Atlantic Policy Congress Co-chair for the Atlantic region.

“[…] you often here is that indigenous communities don’t pay taxes or individuals don’t pay taxes, but there’s a significant amount of taxes that are being paid by indigenous communities and individual businesses, both on and off reserves, so that’s a myth that exists out there and this type of report kind of clarifies that.”

Overall, the findings state that Indigenous businesses and communities helped boost Atlantic Canada’s economy by $6.2B.

Breaking it down by province, Newfoundland and Labrador had the largest economic impact in 2021. Overall, there are over 700 Indigenous owned businesses, $1.5B in direct GDP, jobs employed over 19,000 people and there was $600M in direct taxes.

In Nova Scotia there are over 700 reported Indigenous owned businesses with a contribution of $1.5B in direct GDP, 25,000 jobs and $500M in direct taxes.

New Brunswick has over 250 Indigenous owned businesses. Overall, businesses and communities contributed to $820M in direct GDP, 14,000 jobs and $250M in direct taxes.

Lastly, Prince Edward Island has almost 50 Indigenous owned businesses, $96M in direct GDP, directly employs 1,500 people and had $27M in direct taxes.

“The reason the study comes out is we like to remind people, the nation, the country, the region that we are here. That we are economic impact players in this territory,” said Googoo.

While the economic growth and impact is clear, officials say there’s still room for improvement moving forward.

“What could be done is investment now in Indigenous youth for education and training,” said Googoo.

“One study done by the Atlantic Economic Council a number of years ago, or last year, noted how there’s a labour shortage.”

Chief Gloade says there are other opportunities ahead.

“One that really generates interest for myself, and with having so many discussions before and after this meeting, is some of the opportunities that exist for procurement going forward and creating additional business relationships and opportunities that would need to be able to explore for our communities.”

He says that some of those discussions are happening between leaders as they look to see how to work together more collectively and with different regions and sectors.

“The provincial, the federal and the municipal government knows the relationship between first nation communities and the value added in various projects, so what we need to do is enhance on that, work with more and different industries and different players and different sectors to grow that foothold is what we’re trying to do,” he said.

The research was done on behalf of the Atlantic Policy Congress of First Nations Chiefs Secretariat through its Atlantic Indigenous Economic Development Integrated Research Program.

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