The National Indigenous Economic Development Board is pleased to announce the release of the report, Economic Reconciliation: Growing Canada’s Economy.
In 2022, the NIEDB updated the estimates in the report, “Reconciliation: Growing Canada’s Economy by $27.7 Billion” using Statistics Canada data for 2016, the most recently available data at the time. In 2024, the NIEDB updated the estimate again, this time using 2021 Census data from Statistics Canada.
Canada is experiencing a historic labour shortage which hinders economic growth. Demographic shifts mean more workers are retiring and fewer are entering the workforce. To maintain living standards, productivity and workforce participation must increase. Indigenous peoples, a younger and faster-growing population, can significantly boost workforce productivity. Projections indicate their increasing share of the population, making their productivity crucial for sustained growth.
Focusing on Indigenous workers, especially youth, is vital for addressing productivity challenges. Statistics Canada shows Indigenous workers with post-secondary training often have higher average incomes than non-Indigenous peers, proving that education and training can close productivity gaps. However, significant economic disparities persist between Indigenous and non-Indigenous populations, highlighted by numerous studies.
Closing these gaps and expanding education and training for Indigenous workers could greatly enhance their economic contribution and positively transform the Canadian economy overall. A 2022 study by the Conference Board of Canada found that the current labour shortage costed the Canadian economy $25 billion in 2020. In this report, the NIEDB estimates that closing economic gaps between the Indigenous and non-Indigenous workforces could raise Canadian GDP by $26.7 billion. This paper describes the methodology for this estimate.
Read the full report here
A Thank You to Hilda Broomfield Letemplier
Release of the NIEDB’s 2024-2027 Strategic Plan
The National Indigenous Economic Development Board is pleased to present the Strategic Plan for 2024-2027.
Since its founding more than 30 years ago, the NIEDB has remained committed to advancing its vision of Indigenous economic self-sufficiency and socioeconomic parity with the rest of Canada.
The 2024-2027 NIEDB Strategic Plan articulates a path forward to build a strong and enduring foundation for economic reconciliation. The Plan establishes three priority areas of focus for the Board:
The NIEBD invites you to join in celebrating this endeavor and to stay informed about Indigenous economic development in Canada.
Read the full report here:
New National Indigenous Economic Prosperity Institute
Reported by The Canadian Press on June 6th, 2024, the First Nations University of Canada celebrated the two-year anniversary of the National Indigenous Economic Strategy, a groundbreaking Indigenous-led initiative dedicated to achieving socioeconomic parity for Indigenous Peoples in Canada.
A new institute is in the works that would track Indigenous economic prosperity in Canada by collecting data on population, businesses, land and resources.
“The National Indigenous Economic Prosperity Institute will serve as a catalyst for change, promoting innovative solutions and fostering economic resilience within Indigenous communities and non-Indigenous communities.”
This announcement and celebration is not just about looking back; it’s about reaffirming commitment to Indigenous economic reconciliation and paving the way for future generations.
The Mastercard Foundation is putting forward $6 million over five years, while the McConnell Foundation is adding another $1.5 million over the same time frame.
Read the full article here
For even more information, please visit: National Indigenous Economic Strategy marks two years with the launch of the Indigenous Economic Prosperity Institute – FNUniv.ca
Economic Reconciliation: Growing Canada’s Economy
The National Indigenous Economic Development Board is pleased to announce the release of the report, Economic Reconciliation: Growing Canada’s Economy.
In 2022, the NIEDB updated the estimates in the report, “Reconciliation: Growing Canada’s Economy by $27.7 Billion” using Statistics Canada data for 2016, the most recently available data at the time. In 2024, the NIEDB updated the estimate again, this time using 2021 Census data from Statistics Canada.
Canada is experiencing a historic labour shortage which hinders economic growth. Demographic shifts mean more workers are retiring and fewer are entering the workforce. To maintain living standards, productivity and workforce participation must increase. Indigenous peoples, a younger and faster-growing population, can significantly boost workforce productivity. Projections indicate their increasing share of the population, making their productivity crucial for sustained growth.
Focusing on Indigenous workers, especially youth, is vital for addressing productivity challenges. Statistics Canada shows Indigenous workers with post-secondary training often have higher average incomes than non-Indigenous peers, proving that education and training can close productivity gaps. However, significant economic disparities persist between Indigenous and non-Indigenous populations, highlighted by numerous studies.
Closing these gaps and expanding education and training for Indigenous workers could greatly enhance their economic contribution and positively transform the Canadian economy overall. A 2022 study by the Conference Board of Canada found that the current labour shortage costed the Canadian economy $25 billion in 2020. In this report, the NIEDB estimates that closing economic gaps between the Indigenous and non-Indigenous workforces could raise Canadian GDP by $26.7 billion. This paper describes the methodology for this estimate.
Read the full report here
The Future of Employment Equity in Canada
The report, “A Transformative Framework to Achieve and Sustain Employment Equity” is a comprehensive review of the Employment Equity Act conducted by the Employment Equity Task Force. This is the first time since the legislation was adopted in 1986 that an independent task force has been established to review the entire employment equity framework.
In February 2024, the Chair of the Employment Equity Task Force, Professor Adelle Blackett, met with the National Indigenous Economic Development Board (NIEDB) to provide an overview of the report. NIEDB Members Ruth Williams and Sandra Sutter are also members of this task force.
The Employment Equity Act requires federally-regulated employers to take steps to eliminate barriers to equity in the workplace for disadvantaged groups. Access to stable and fulfilling employment is essential for economic empowerment and prosperity. By ensuring that all Canadians have equal opportunities in the workforce, we will help build a stronger and more inclusive society.
Read the full report here
Release of the NIEDB’s Report: 2019 Indigenous Economic Progress Report Recommendations Revisited
Back in 2022, federal departments and agencies were tasked by the NIEDB to review the recommendations in the 2019 Indigenous Economic Progress Report, and to report on any actions which may have served to advance specific recommendations since the report was issued. The results of this exercise are contained in this new report.
Accountability is a key component of reconciliation. It involves holding individuals, institutions, and governments accountable for past wrongs and ensuring that they are not repeated in the future. Accountability requires transparency, honesty, and a willingness to learn from mistakes. It also means empowering Indigenous Peoples to participate fully in decision-making processes that affect their lives.
Reconciliation is not an easy or quick process, but it is a necessary one if we are to move towards a more inclusive and just society. By acknowledging the past, listening to Indigenous voices, and taking meaningful action, we can build a better future for all Canadians. Reconciliation is not just a goal; it is a journey that requires commitment, compassion, and courage. Together, we can build bridges of understanding and create a more inclusive and equitable Canada for future generations.
Read the full report here: NIEDB 2019 Indigenous Economic Progress Report Revisted
Indspire Honours Victoria LaBillois with the Business & Commerce Indigenous Excellence Award
The Indspire Awards recognize Indigenous professionals and youth who demonstrate outstanding career achievement, promote self-esteem and pride for Indigenous communities, and provide inspirational role models for future generations. This year’s event marks the 31st anniversary of the awards, a testament to the enduring commitment of Indigenous peoples to pursuing excellence in multiple fields of endeavour.
We are thrilled to extend our warmest congratulations to Victoria LaBillois, Vice-Chairperson of the NIEDB, on her well-deserved recognition in Indigenous Business and Commerce. Her exceptional accomplishments serve as an inspiration to those who aspire to make a meaningful impact in the world of Indigenous business. By blazing trails and breaking barriers, Victoria is a source of empowerment and inspiration for us all.
For more information, please visit: Indspire Honours Indigenous Excellence with Announcement of 2024 Indspire Awards Recipients | Indspire
The Canadian Council For Aboriginal Business Honours Hilda Broomfield Letemplier with the 2024 Aboriginal Business Lifetime Achievement Award
Hilda Broomfield Letemplier has been awarded the Aboriginal Business Lifetime Achievement Award. This award honours Indigenous business leaders who have built full and rich careers. It pays tribute to outstanding Indigenous business people across the country who are well-advanced in their careers and have built a legacy that serves as an example of excellence. Past NIEDB Member recipients of this award include Dawn Madahbee Leach and Chief Terry Paul.
Hilda has dedicated her work to fostering sustainable business growth. Her unwavering commitment to cultural preservation, coupled with a keen business acumen, has contributed greatly the empowerment and growth of Indigenous women in business. She has set the standard for future generations to follow. Hilda’s hard work and dedication is an inspiring testament to what economic reconciliation looks like in real time.
We extend our heartfelt congratulations to Hilda, and the additional award recipients: Nyden Iron-Nighttraveller, Annette Morgan, Mark Little and Det’on Cho Group of Companies. Congratulations!
For more information, please visit: Awards – CCAB
Release of the NIEDB’s 2022 Annual Report
The National Board is excited to share with you the Annual Report for 2022. 2022 was a successful year for the NIEDB. The Board continued to share its vision on a national and international level by attending various events, presenting to government, and publishing reports and strategies centered on Indigenous economic development.
Key highlights from the report include:
Read the full report here.
Release of the NIEDB’s 2019-2021 Multiannual Report
The National Board achieved a number of important milestones from 2019-2021. The NIEDB addresses the importance of engaging Indigenous communities and businesses in all industries and sectors throughout the country to achieve economic reconciliation.
Key highlights from the report include:
Special events and milestones:
Read the full report here.