Indigenous Economic Impact Analysis - Supplied Image via TB CEDC
The Thunder Bay Community Economic Development Commission, in collaboration with Fort William First Nation, Anishnawbe Business Professional Association and the Nishnawbe Aski Development Fund are seeking to conduct an Indigenous economic impact analysis.
The partnership between Indigenous & Community Engagement Incorporated and Big River Analytics has been selected as the successful vendor for the analysis.
“We are thrilled about this collaboration as it symbolizes a significant step forward in shaping a sustainable future for Thunder Bay,” said Chief Executive Officer of the Thunder Bay CEDC Jamie Taylor. “By conducting this Indigenous Economic Impact Analysis, we are not only recognizing the invaluable contributions of Indigenous businesses but also laying the groundwork for a more inclusive and prosperous community.”
The hope for the analysis is to support the growth and development of Thunder Bay as a regional service hub by exploring the economic benefits derived from Indigenous spending.
Key metrics to be evaluated include total gross output, total GDP, total labour income, indirect taxes, and jobs created by Indigenous businesses.
Additionally, the study will assess the economic impact of spending associated with Thunder Bay’s status as the regional hub for northern Indigenous communities, providing access to healthcare, education, training, emergency support, recreation, and consumer necessities.
“We are pleased to partner on this project to understand how First Nations citizens and businesses in Northern Ontario are contributing to the local economy,” stated the President of the Anishnawbe Business Professional Association Jason Rasevych. “We acknowledge that for decades First Nations governments, their tribal councils and economic development corporations have been actively investing and spending in the city of Thunder Bay. This report is critical for quantifying the Indigenous spending and eliminating the myths about First Nations’ involvement in our local economy.”
The project is supported by a committee with members from the Thunder Bay CEDC, ABPA, NADF, and Fort William First Nation’s Economic Development Department and will underscore a commitment to fostering economic growth, supporting Indigenous businesses, and enhancing the overall well-being of the Thunder Bay community.
