Opportunities NORTH

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Among its subsidary companies, Kivalliq Arctic Foods ($1.86 million), Kitikmeot Foods Ltd. ($993,594), Ivalu Ltd ($799,495), Jessie Oonark ($340,197), Kiluk Ltd. ($445,189) and Taluq Designs Ltd. ($293,396) all reported higher revenues year over year. However, not all were profitable. Kivalliq Arctic Foods ($361,014), Kiluk Ltd. ($103,393), Ivalu ($53,878) and Taluq Designs ($74,259) all finished in the black, as did Uqqurmiut Arts and Crafts Ltd., despite pulling in lower revenue ($865,519) than in 2021. Running deficits were Kitikmeot Foods (-$113,732), Jessie Oonark (-$15,835) and Papiruq Fisheries (-$11,994).

NDC’s sales division realized revenues of $820,000 in 2022, up from $400,000 in 2021. However, expenses were just over $1 million, leaving an annual deficit of $194,000.

Equity investments in 2021-22 went to Sudliq Developments Ltd. ($375,000), Arctic Fisheries Alliance LP ($250,000), Tukumaaq Inc. ($175,000), Arctic UAV Inc. ($143,000), NunaVet Animal Hospital Inc. ($126,500) and CHOU Consulting and Development Inc. ($125,000).

The development corporation supported a total of 161 jobs in 2022, a big jump from 85.4 jobs in 2021.

NDC states that it’s designed to “create employment and income opportunities, stimulate the growth of business and to promote the economic objectives of the Government of Nunavut.”

Sakku Investments Corporation

Sakku Investments Corp., the economic development arm of the of the Kivalliq Inuit Association, decided to go into the modular homes business in 2022, making plans for a 42,000-square-foot factory in Arviat that is expected to open in 2025.

The factory, estimated to cost $30 million to build, will employ 38 people. The goal is to produce 35 modular homes per year and to train an Inuit construction workforce, said Guillaume Guida, the company’s vice-president.

Qikiqtaaluk goes green

The federal government announced $4 million in funding in November to assist with the Qikiqtaaluk Corporation’s Iqaluit Nukkiksautiit renewable energy project, which is examining green energy via solar, wind or hydroelectric sources.

Qikiqtaaluk Corporation, the economic development arm of the Qikiktani Inuit Association (QIA), presented the QIA with a dividend cheque for $1 million in October 2021, bringing the dividend total up to $10.2 million since 2016. The organization’s 2021-22 annual report showed 1,062 jobs were supported through its efforts in 2021 with 387 of them being held by Inuit. Within the corporations’ wholly-owned companies, Inuit employment rises to 57 per cent.

Kitikmeot Corporation builds

The near completion of multi-use buildings in Kugaaruk and Taloyoak was highlighted in the September 2022 Kitikmeot Corporation’s president’s report. The Taloyoak site was chosen as a home for the Aboriginal Head Start. Two duplex builds began in Cambridge Bay during the fall. They will be used as housing for Kitikmeot Inuit Association staff. The old “lands office” in Kugluktuk was also undergoing major renovations.