Completion of Indigenous Economic Impact Analysis
Thunder Bay CEDC, Fort William First Nation, ABPA, and NADF Celebrate Completion of Indigenous Economic Impact Analysis
January 29, 2025— The Thunder Bay Community Economic Development Commission (CEDC), in collaboration with Fort William First Nation, the Anishnawbe Business Professional Association (ABPA), and the Nishnawbe Aski Development Fund (NADF), proudly announce the completion of the Indigenous Economic Impact Analysis for the City of Thunder Bay.
This new report by Indigenous Community Engagement (ICE) highlights the substantial economic contributions of Indigenous peoples, communities, businesses, and governments to the Thunder Bay economy. By quantifying these impacts, the analysis provides valuable data that supports informed planning and decision-making for initiatives in business development, employment, education, and training. Furthermore, it lays the groundwork for advancing economic reconciliation with Indigenous communities across Northwestern Ontario and Canada.
“Thunder Bay is a hub of Indigenous economic activity,” stated Jamie Taylor, CEO of Thunder Bay CEDC. “Many Indigenous people live and work here, while others travel from surrounding communities to access healthcare, education, recreation and commerce. First Nations, Tribal Councils, the Métis Nation of Ontario, and other Indigenous organizations maintain offices, host events, and contribute to our city's vibrancy. This analysis underscores the critical role of Indigenous economic activity in Thunder Bay and serves as a foundation for future collaborative efforts to foster economic growth and opportunity.”
Using robust input-output (I-O) modeling, the report estimates the direct, indirect, and induced economic impacts of Indigenous spending and employment in Thunder Bay. Key findings include:
- Direct Economic Impact (2020): $742 million in output and $411 million in gross domestic product (GDP).
- Total Economic Impact: $1.55 billion in output and $673 million in GDP, reflecting the combined effects of direct spending, as well as indirect and induced activities.
This analysis represents a vital step toward recognizing and leveraging the economic potential of Indigenous communities. It offers actionable insights to enhance collaboration and support sustainable economic growth that benefits all Canadians.
QUOTES
“The Fort William First Nation (FWFN) recognizes the significance of participating in the study on the impact of Indigenous businesses on the City of Thunder Bay. Understanding the contributions of Indigenous business to the city's economy is essential for measuring its effects on economic development, identifying the goods and services provided, and addressing poverty levels in the region. With this knowledge, we can work towards creating inclusive pathways to training, capital, and support, ultimately breaking down systemic barriers. This effort will contribute to building a stronger, more resilient community for all.”
- Cheryl St James, Economic Development Officer, Fort William First Nation
"This report is a significant step forward in recognizing the vital role Indigenous businesses, Tribal Councils and First Nations organizations play in Thunder Bay's economy. The ABPA is proud to have contributed to this important initiative, which will help drive economic growth and prosperity for all. This report clearly showcases how supporting Indigenous businesses isn't just good economics; it's a crucial component of reconciliation."
- Jason Rasevych, President, ABPA, Member of Ginoogaming First Nation
"The Indigenous Economic Impact Analysis provides tangible data that will inform our efforts to advocate for and support Indigenous business development, employment, education, and training. This report certainly confirms the positive economic impact of Indigenous people on our community and ought to demystify any lingering misconceptions about the significant contributions of Indigenous peoples locally and regionally. ABPA will rely on this report to guide its initiatives and focus on fostering inclusivity and prosperity for all people in Thunder Bay and surrounding area.”
- Rachael Paquette, Vice President, ABPA, Member of Mishkeegogamang First Nation, Lawyer, Paquette and Associates
"Drawing on our success as a developmental lender, NADF anticipated the findings of this report and is pleased to see them validated. The analysis highlights the economic impact of Indigenous spending and employment in Thunder Bay, reflecting the significant contributions of Indigenous communities and businesses. Readers can leverage this information to support initiatives that drive sustainable growth and strengthen partnerships. We are proud to have been part of this important initiative."
- Brian Davey, CEO, Nishnawbe Aski Development Fund
"Indigenous & Community Engagement (ICE) Inc. is proud to highlight the incredible growth in Indigenous economic contributions. This study demonstrates how Indigenous businesses, organizations, and partnerships have become a cornerstone of Thunder Bay's economy, generating over $1.55 billion in total economic output. This growth is a testament to the vision, resilience, and dedication of Indigenous leaders across all sectors, and we are excited to support the continued journey toward prosperity for all."
- Michael Fox, President & CEO, Indigenous & Community Engagement
Contact: Madeline Dennhardt, Marketing and Communications Coordinator, Thunder Bay Community Economic Development Commission, (807)630-3359, madeline.dennhardt@thunderbay.ca
About the Anishnawbe Business Professional Association: The ABPA serves the First Nation business community and provides a forum for the community to develop policies and programming which contribute to the socio-economic well-being and quality of life of First Nations peoples in Northern Ontario.
About Fort William First Nation: The Fort William Reserve, situated on the western end of Lake Superior near Thunder Bay, was established in 1850 through the Robinson-Superior Treaty. The economic development department of Fort William First Nation (FWFN) is dedicated to providing programs and services that enhance economic opportunities for FWFN members. This includes a comprehensive range of initiatives, seamlessly integrating to support business and career development, workforce enhancement, advisory services, and the creation of procurement opportunities, all contributing to the goal of economic reconciliation.
About the Nishnawbe Aski Development Fund: NADF seeks to advance the well being of Aboriginal People in Northern Ontario through business and economic development, creating Aboriginal prosperity.
About Thunder Bay Community Economic Development Commission: The Thunder Bay CEDC is the city's lead economic development agency and champion for local growth. We use our local knowledge and expertise to promote Thunder Bay as the best small city in Canada to live, work, do business and visit.