Economic Development

What We Do

The Community Economic Development Office (CEDO)  is responsible for:

  • facilitating community and economic development planning and initiatives;
  • identifying and fostering community economic development opportunities
  • securing funding for economic development activities and programs;
  • assisting local organisations, businesses and individuals with establishing economic development plans and projects;
  • promoting the community to expand the economic development opportunities and implementation of Nunavummi, Nagminigaqtunik Ikajuuti (NNI)

Access to Financial Incentives

CEDO helps local Inuit businesses that require guidance in accessing funds to operate or expand. In Nunavut, there are several incentives directed towards Inuit and other Nunavut or local businesses.

Incentive programs that local Inuit businesses may apply for are as follows:

Government of Nunavut Strategic Investments Program – Nunavut Equity Investment Fund

The purpose of the program is to encourage private investment in key growth sectors by providing matching funds toward new or expanding Nunavut businesses. Nunavut businesses that are carrying on operations in the territory are eligible.

Nunavut Tunngavik Inc. (NTI) – Atuqtuarvik Corporation

Atuqtuarvik Corporation provides venture debt financing to small and medium-sized Inuit-owned businesses through such instruments as loans, loan guarantees, bid security and investment placement.

Nunavut Business Credit Corporation (NBCC)

NBCC provides venture debt financing to small and medium-sized businesses through such instruments as loans, loan guarantees, bid security and investment placement.

Aboriginal Business Canada (ABC)

ABC programs provide contribution support to aboriginal-owned businesses in Nunavut in priority development areas of tourism, youth, market expansion and mining. This program is administered by Kakivak Association. Other programs offered by Kakivak includes  Business Development Fund, Business Capacity Start-up Fund and Entrepreneurial Business Development (CANNOR).

Government of Canada Human Resource and Skills Development Canada (HRSDC)

HRSDC provides a targeted wage subsidy program that subsidizes eligible employee wages for up to 78 weeks of employment. The program is designed to assist unemployed individuals who are having difficulty finding work due to employment barriers. On the job training wage subsidies and job specific training programs for Inuit are also available under this program.

Small Business Support Program

The Small Business Support Program under the Government of Nunavut, Department of Economic Development & Transportation, provides contributions to small and medium-sized businesses for pre-planning, planning, start-up, staff development and market development of Nunavut businesses.

SOME SUCCESS STORIES

Sustaining Inuit Food and Culture

CEDO was very instrumental in assisting locals to incorporate Kangiqtugaapik Food Bank as a non-profit organization in December 11, 2019. The office also aided the Food Bank in accessing funds and donations from the Government of Nunavut, Baffin Regional Chamber of Commerce (BRCC), Qikiqtani Inuit Association (QIA)  and Arctic Co-operatives Limited.

Promoting Clyde River Art and Craft

Each year CEDO assists local art and craft makers to access funds from the Government of Nunavut Community Tourism, Cultural and Industrial Fund to puchase raw materials and tools used to make Inuit art and craft items.  This initiative has been very helpful to successful applicants who generate income from the products they make.

To learn more about the types of support this office can provide local businesses, please contact the Community Economic Development Officer at 867-924-6220.