Presentation given by

Makivik Corporation

FIESS 2011

Montreal, Quebec

October 19, 2011

The Nunavik RegionThe Nunavik Region North of 55th parallel of the Province of Quebec or 505,000 square Km (1/3 of Quebec)

No road links to the region

Population of around 11,000 (90% Inuit)

57 % of the population under 25 years old

14 villages of 160 to 2,500 inhabitants

Inuit of Nunavik pay income and consumption taxes as any other person in the Province.

Social Economy in NunavikSocial Economy in Nunavik

GDP $ 291 Million (2003)GDP $ 291 Million (2003) Sales Volume $ 243 Million (SE organizations)Sales Volume $ 243 Million (SE organizations) 84% created by social economy organizations 84% created by social economy organizations

compared to Quebec 6%.compared to Quebec 6%. Full-time jobs 3,189 (2005/06)Full-time jobs 3,189 (2005/06) 53% public or parapublic 53% public or parapublic 47% private or social economy (at least 17% 47% private or social economy (at least 17%

social economy Org’s).social economy Org’s). Survey not complete. Certain companies have dual roles.Survey not complete. Certain companies have dual roles.

Makivik CorporationMakivik Corporation

The History of Makivik Corporation:The History of Makivik Corporation:

Created under the JBNQA 1975Created under the JBNQA 1975

Represents the Inuit Beneficiaies of the JBNQARepresents the Inuit Beneficiaies of the JBNQA

To develop the regions economy through means of To develop the regions economy through means of investments and joint venturesinvestments and joint ventures

Makivik’s Corporate ObjectivesMakivik’s Corporate Objectives

To receive, administer, use and invest the compensation money To receive, administer, use and invest the compensation money intended for the Inuit, as provided for in the James Bay and intended for the Inuit, as provided for in the James Bay and Northern Quebec Agreement (1975) and the 2002 Partnership Northern Quebec Agreement (1975) and the 2002 Partnership agreement signed with Quebec.agreement signed with Quebec.

NILCA 2007NILCA 2007

To relieve poverty and to promote the welfare, advancement, and To relieve poverty and to promote the welfare, advancement, and education of the Inuit.education of the Inuit.

To foster, promote, protect and assist in preserving the Inuit way of To foster, promote, protect and assist in preserving the Inuit way of life, values and traditions.life, values and traditions.

Makivik’s Corporate ObjectivesMakivik’s Corporate Objectives

To exercise the functions vested in it by other acts or the To exercise the functions vested in it by other acts or the agreement.agreement.

To initiate, expand and develop opportunities for the Inuit to To initiate, expand and develop opportunities for the Inuit to participate in the economic development of their society.participate in the economic development of their society.

To develop and improve the Inuit communities and to improve their To develop and improve the Inuit communities and to improve their means of actions.means of actions.

To assist in the creation, financing or developing of businesses, To assist in the creation, financing or developing of businesses, resources, properties and industries.resources, properties and industries.

How does Makivik meet its’ How does Makivik meet its’ Economic Development Economic Development

ObjectivesObjectives Invest in stock and money markets.Invest in stock and money markets.

Invest in wholly-owned subsidiaries and Joint-Ventures.Invest in wholly-owned subsidiaries and Joint-Ventures.

Foster and Fund Socio-economic projects in communities. Foster and Fund Socio-economic projects in communities.

Create employment through its subsidiary companies and joint-Create employment through its subsidiary companies and joint-ventures.ventures.

How does Makivik meet How does Makivik meet its’ Economic its’ Economic Development Development

ObjectivesObjectives Market and promote Nunavik products through such companies Market and promote Nunavik products through such companies

as Nunavik Creations and Nunavik Furs.as Nunavik Creations and Nunavik Furs.

Build local infrastructures such as recreation centres, FM Build local infrastructures such as recreation centres, FM stations, marine infrastructures and housing. stations, marine infrastructures and housing.

Ensure beneficiaries get their tax refunds through the Income Ensure beneficiaries get their tax refunds through the Income tax department.tax department.

FUNDINGFUNDING

Provide donations to various community programs (cumulative Provide donations to various community programs (cumulative donations of $ 95 Million in 2009).donations of $ 95 Million in 2009).

Sanurritik Contributions - $ 55 Million since 2002Sanurritik Contributions - $ 55 Million since 2002

Excess of Revenue/Expenditures - $ 180 MillionExcess of Revenue/Expenditures - $ 180 Million

Beneficiary Equity - $ 305 Million plusBeneficiary Equity - $ 305 Million plus

Always seeking outside funding – Since this is an heritage fund.Always seeking outside funding – Since this is an heritage fund.

Programs ExamplesPrograms Examples

Nunavik Annual Artistic Workshops.Nunavik Annual Artistic Workshops.

Nunavik Arts SecretariatNunavik Arts Secretariat

Heating oil subsidy program.Heating oil subsidy program.

Inuit Clothing and Fur Fund.Inuit Clothing and Fur Fund.

Air Inuit beneficiary rates.Air Inuit beneficiary rates.

Wholly Owned SubsidiariesWholly Owned Subsidiaries

First AirFirst Air

Air InuitAir Inuit

Nunavik Creations/FursNunavik Creations/Furs

Nunavik BiosciencesNunavik Biosciences

Nunacell Inc.Nunacell Inc.

Wholly Owned SubsidiariesWholly Owned Subsidiaries

Construction DivisionConstruction Division

Nunavik GeomaticsNunavik Geomatics

Joint VenturesJoint Ventures

Pan Arctic LogisticsPan Arctic Logistics

Unaaq FisheriesUnaaq Fisheries

Nunavut Eastern Arctic ShippingNunavut Eastern Arctic Shipping

Economic Development IssuesEconomic Development Issues

High transportation costs , High cost of living & need of High transportation costs , High cost of living & need of infrastructures.infrastructures.

Amplified by taxes paid on cargo and the recent increase in fuel Amplified by taxes paid on cargo and the recent increase in fuel prices.prices.

Young population (57% Under 25 years).Young population (57% Under 25 years).

Need for more training : Capacity buildingNeed for more training : Capacity building

Need for the youth to finish post- secondary schooling.Need for the youth to finish post- secondary schooling.

Traditional Economy : Becoming expensive to practice.Traditional Economy : Becoming expensive to practice.

Development SectorsDevelopment Sectors

Energy and Hydro-electricityEnergy and Hydro-electricity MiningMining Wildlife sectors/Traditional Wildlife sectors/Traditional

EconomyEconomy TourismTourism Bio-food sectorBio-food sector

ConclusionConclusion

Makivik Corporation is well positioned to ensure the economic Makivik Corporation is well positioned to ensure the economic growth of Nunavik.growth of Nunavik.

As you can see it has expertise in many fields of activity.As you can see it has expertise in many fields of activity.

Always looking for new ventures with potential partners.Always looking for new ventures with potential partners.

Ready to face the future despite the challenges it faces.Ready to face the future despite the challenges it faces.

Land Based Economy very important (most smaller villages).Land Based Economy very important (most smaller villages).

Working on Plan Nord with Government of Quebec.Working on Plan Nord with Government of Quebec.

MerciMerci

Thank YouThank You

Nakurmik /Nakurmik /Nf3ü4Nf3ü4