Indigenous leaders in Atlantic Canada are celebrating the impact they are making in our region.
A new report from the Atlantic Economic Council shows Indigenous businesses and communities generated $6.2 billion to the economy in 2021.
They supported 89,000 jobs in total and more than $2 billion in tax revenue.
Newfoundland had the highest impact, followed by Nova Scotia, New Brunswick and Prince Edward Island.
“You often here is that indigenous communities don’t pay taxes or individuals don’t pay taxes, but there’s a significant amount of taxes that are being paid by indigenous communities and individual businesses, both on and off reserves, so that’s a myth that exists out there and this type of report kind of clarifies that.” said said Nova Scotia Chief Bob Gloade.
The report was released in Moncton on Thursday.
“The impact of Indigenous economy is enormous,” says report author, Fred Bergman, Senior Policy Analyst with the Council. “It’s double the size of the Atlantic aerospace and defence industry and 27% larger than the GDP impact of the region’s agriculture industry.”.
The Indigenous population in the region is growing more quickly than the non-Indigenous population, but education and labour market gaps still limit the growth of the Indigenous economy as outlined in earlier research by the council.
Indigenous Economy Impacts – Provincial Snapshots
Nova Scotia
- Over 700 Indigenous-owned businesses in Nova Scotia
- $1.5 billion in direct GDP (about 3% of NS’s GDP)
- Directly employs about 25,000 people (over 5% of NS jobs)
- $500 million in direct taxes
Newfoundland & Labrador
- Over 700 Indigenous-owned businesses in Newfoundland & Labrador
- $1.5 billion in direct GDP (4% of NL’s GDP)
- Directly employs over 19,000 people (almost 9% of NL jobs)
- $600 million in direct taxes
Prince Edward Island
- Almost 50 Indigenous-owned businesses in Prince Edward Island
- $96 million in direct GDP (1% of PEI’s GDP)
- Directly employs 1,500 people (almost 2% of PEI jobs)
- $27 million in direct taxes
