Economic Prosperity

First Nations are growing local economies by investing in businesses, creating jobs, and developing new assets in the region. By building resilient communities, First Nations are able to support community well-being through employment and financial wealth.

Wei Wai Kum Nation members Chief Councillor Bob Pollard, Councillor Chris Roberts, Thunderbird RV Park Operations Manager Sandra Malone, and Wei Wai Kum Band Manager welcome visitors to beautiful Tyee Spit. Photo by Coast Funds.

First Nations are creating sustainable businesses and strategically acquiring companies to grow and diversify local economies throughout the Great Bear Rainforest and Haida Gwaii regions of British Columbia. By creating new businesses, First Nations are creating jobs for community members who may otherwise relocate to find employment.

First Nations’ investment in the region builds partnerships, attracts additional business, and improves infrastructure, further boosting and diversifying sources of revenue. Over time, local economies are increasingly less reliant on single industries as new investment creates a diversity of small businesses.

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Economic Prosperity Outcomes

First Nations are attracting significant new investment to their communities to create and expand local businesses.

Attracting New Investment

First Nations have leveraged $111,638,135 from their investments with Coast Funds to attract additional investment of $306,991,600 for both completed and active projects. This results in a total of $418,629,735 in new investment into projects throughout the Great Bear Rainforest and Haida Gwaii since 2008.

 

Based on all completed and ongoing projects as of December 31, 2023 as of the year the project was approved. First Nations work closely with Coast Funds to provide this information when applying and reporting on funded projects. For a detailed overview of the methodology, please see Outcomes Methodology.

Community Well-Being Impact

First Nations are making multi-million dollar investments to provide family-supporting jobs in remote communities throughout coastal British Columbia. This helps to retain community members, particularly youth and skilled workers, in their home communities. New investment is attracting additional money into the economy which supports vibrant communities through infrastructure development, improved access to services, and new training opportunities.

The commitment of equity from Lax Kw'alaams Band (including Coast Funds’ contribution) secured significant additional funding and allowed Coast Tsimshian Fish Plant to maintain its focus on operationalizing the fish plant.

— Linda Simon, Band Manager, Lax Kw'alaams

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First Nations are investing in a range of businesses to strengthen the economy and reduce communities’ reliance on single industries.

Diversifying the Economy

First Nations have invested in a wide range of economic sectors, including tourism, manufacturing and processing, forestry, aquaculture, and stewardship public service & conservation through investments with Coast Funds.

 

Based on all completed and ongoing projects as of December 31, 2023. Other sectors include services, small business, telecommunications and transportation. First Nations work closely with Coast Funds to provide this information when applying and reporting on funded projects. For a detailed overview of the methodology, please see Outcomes Methodology.

Community Well-Being Impact

Diversification into several economic sectors is important to build resilient economies in the Great Bear Rainforest and Haida Gwaii and helps to protect communities against macroeconomic changes that affect certain industries. Stable and diversified streams of revenue protect communities from population loss should there be a downturn in any single industry.

The construction of a canoe and the development of cultural tours provided the Metlakatla Nation with the opportunity to capitalize on seasonal tourism in Prince Rupert. This opportunity helped the Nation to diversify its economic base.

— Ryan Leighton, Operations Officer, Metlakatla Development Corporation

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First Nations are creating new and acquiring existing businesses to increase their participation in the regional economy.

Creating and Expanding First Nations Businesses

First Nations have created, acquired, or expanded 138 businesses through investments with Coast Funds. The vast majority (89%) of the new businesses created are still in operation by Nations. One business was sold and seven businesses discontinued operations. Investment in these new businesses has been across a range of sectors, including tourism, manufacturing and processing, forestry, aquaculture, and transportation.

 

Based on all completed projects as of December 31, 2023. First Nations work closely with Coast Funds to provide this information when applying and reporting on funded projects. For a detailed overview of the methodology, please see Outcomes Methodology.

Community Well-Being Impact

First Nations are acquiring, expanding, and creating businesses to ensure they have access to the revenue produced from resources in their territory and that they are well-positioned to shape the regional economy, making long-term decisions for the benefit of community members. First Nations businesses create unique employment and training opportunities for community members, such as employing their knowledge of coastal territories and cultural traditions as tourism guides.

The Nuxalk Nation is the proud new operator of the Bella Coola Motel and our business objectives have been exceeded in five months of operation. The value of taking ownership of this historic property has made our people proud of their heritage and their Nation.

— Wilma Mack, Director of Administration, Nuxalk Nation

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A Generational Investment: Haíɫzaqv Acquire Shearwater Resort and Marina

The Heiltsuk Tribal Council has purchased Widsten Holdings Inc., which includes the Shearwater Resort and Marina, as well as other related businesses. Through its Haíɫcístut (reconciliation) process, the Heiltsuk Tribal Council has negotiated agreements with the governments of Canada and British Columbia, which include funding for economic development.

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First Nations are forming partnerships with industry, government, environmental organizations, and other First Nations on a wide range of conservation and economic development initiatives.

Success through Partnerships

First Nations have formed partnerships with 464 different organizations through investments with  Coast Funds.  This has included 101 project partnerships between First Nations and 24 new joint venture agreements.

 Partnerships Formed by First Nations

Number of partner organizations

464

Total project partnerships*

1,152

Total project partnerships between First Nations*

101

Total joint venture agreements

24

Community Well-Being Impact

First Nations are developing partnerships to build their conservation, stewardship, and business development capacity. Partnerships in marketing, sales, joint management, and research increase capacity and enhance the operations of their organizations. First Nations are strategically partnering with other organizations to concentrate on key areas to expand operations. Partnerships between First Nations facilitate knowledge sharing and collaboration throughout the region.

Based on all completed projects as of December 31, 2023. First Nations work closely with Coast Funds to provide this information when applying and reporting on funded projects. For a detailed overview of the methodology, please see Outcomes Methodology. *Some partnerships between the same organizations will be counted more than once if there was more than one project where partnerships with the same organizations occurred.

We have really good relationships with the tour providers we partner with. Working together enables us to focus on providing a world-class wildlife viewing experience.

— Shawn O’Connor, Former Manager, Homalco Wildlife Tours

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First Nations are investing significantly in the development of permanent infrastructure that supports sustainable development and conservation initiatives.  

Investing in Infrastructure

First Nations have invested $126,093,738 into new or improved infrastructure including the purchase of strategic properties, technology and equipment, and the construction of new facilities through investments with Coast Funds.

 

Based on the year the project was reported completed as of December 31, 2023. First Nations work closely with Coast Funds to provide this information when applying and reporting on funded projects. For a detailed overview of the methodology, please see Outcomes Methodology.

Community Well-Being Impact

Investment in infrastructure supports the sustainability of communities, enabling conservation programs and local businesses to expand or operate more cost effectively. New investment in infrastructure creates opportunities for current and future generations and typically enables the creation or expansion of multiple entrepreneurial businesses.

The new seafood processing facility allows Kitasoo to maximize its ability to process and market products that it could previously only harvest and sell to other processing companies. This provides greater opportunity to support local fishers with the expansion of their businesses.

— Larry Greba, Director, Fisheries and Tourism, Kitasoo Development Corporation

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