The First Entrepreneurs: Income of First Nations with resource deals exceed national averages

Reconciliation is not just atoning for past misdeeds but there also needs to be economic reconciliation, according to the Montreal Economic Institute

By Geoffrey Morgan
Finanacial Post
November 6, 2018

CALGARY — A dramatic change in First Nations’ approaches to natural resources development has led, in certain cases, to rising incomes in Indigenous communities where members now out-earn national averages. The Montreal Economic Institute found in a study released Tuesday that First Nations communities and members involved in resource development earn multiples of what both Indigenous and non-Indigenous people earn in other industries. The MEI report, titled The First Entrepreneurs, notes that there is no consensus among First Nations on an approach to resource development in their traditional territories, but there is a rising number of impact-benefits agreements across the country as more groups turn to resource extraction for economic opportunity. …“Many First Nations are getting more prosperous,” MEI researcher and the report’s author Germain Belzile said in an interview. “In some areas, First Nations will become more prosperous than non-First Nations communities.”

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