Access to Capital A Year in Review By Paul Clements-Hunt & Neil Philcox The Blended Capital Group
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n October 17th, 2013 the recently opened Coastal Business Resources Centre (www.thecbrc.ca) invited tenants and guest to an open house in Prince Rupert. The development of the centre as a training facility, meeting place and permanent office space for new and existing businesses in Prince Rupert is symbolic of the emphasis placed by its owner, the Metlakatla Development Corp. (MDC), on people, place and relationships. It also represents a tangible investment by MDC to purchase, renovate and lease the space. This commitment is based on an underlying confidence in the future of economic development in the traditional territory, and it is a fitting milestone to celebrate as 2013 draws to a close. The
pipelines, rail networks, energy transmission, processing facilities, etc.), and regional, municipal, and community impacts (e.g. roads, water/sewage, housing, etc.). However, infrastructure development requires significant capital investment, on-time/ on-budget project management, a stable revenue stream, and professional oversight, operations and management. The good news is that asset owners (sovereign wealth funds, pension funds, insurance groups, asset managers, banks) are all looking at infrastructure with renewed interest, and Aboriginal communities across the country are well positioned to participate in the development of infrastructure. But what steps can a community take to assess the need and/ or opportunity to participate?
Blended Capital Group is pleased to be a tenant in the centre, and we look forward to working with our fellow tenants and other parties committed to building a strong and sustainable economic future for the region. In 2013 we started a storyline about Access to Capital, beginning with a focus on infrastructure (Infrastructure: There’s No Bigger Conversation, March 2013). This story is a global one, with international trade ramifications (e.g. development of port infrastructure), national interest (e.g.
Firstly, assess the overall scope and scale of the need in and around the territory. For example, in the case of Prince Rupert, infrastructure development is needed at the international level (expansion of the container facility and upgrades to the coal terminal), the national level (railway upgrades, natural gas pipelines, industrial sites), and the local level (transportation, water/sewage). This assessment should also include a more specific determination of the needs of the Aboriginal community, and/or business development arm.
we continued the storyline with a focus on building a value proposition for a project or investment that goes beyond traditional financial metrics.
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