Saskatchewan Proclaims Indigenous Economic Development Day

Released on May 8, 2023

Today Saskatchewan celebrates Indigenous businesses for Indigenous Economic Development Day. This day recognizes economic development as a bridge to reconciliation, and acknowledges the need for Indigenous communities and their neighbours to build a prosperous future together.

"Our province is fortunate to be home to many vibrant nations and Indigenous communities who make significant contributions to the province's economy," Trade and Export Development Minister Jeremy Harrison said. "Indigenous businesses operate in all of the province's economic sectors and supporting their success is important to the health, diversity, and strength of our economy, as well as our goal of advancing economic reconciliation."

Indigenous Economic Development Day acknowledges and celebrates the important role of Indigenous businesses and peoples in the economy and the importance of economic diversity. The day also highlights Indigenous and non-Indigenous partnerships, job creation, and the use of traditional Indigenous knowledge to work toward sustainable and effective economic development.

Today's proclamation is supported by the Saskatchewan Economic Development Alliance (SEDA), Saskatchewan Indigenous Economic Development Network (SIEDN) and is part of the larger celebration of Economic Development Week, which is recognized internationally.

"Indigenous Economic Development is key to closing the economic gap," SIEDN Founder and Chair Milton Tootoosis said. "As we transition and adapt into the information age we need more engagement, education, investment, and access to capital in creative innovative ways. We as Indigenous peoples have been historically shut out from the past economic revolutions and we must participate using Indigenous Environmental, Social and Governance principles for a sustainable, fair and equitable future."

Saskatchewan's Indigenous-owned businesses are being recognized on a national level. Recently, Meadow Lake Tribal Council Industrial Investments received the Canadian Council of Aboriginal Business' 2023 Aboriginal Economic Development Corporation of the Year Award for their work in the forestry, renewable energy, oil and gas, agriculture and hospitality sectors.

Economic reconciliation and increasing Indigenous participation in the economy are key aspects to Saskatchewan's Growth Plan. The province is committed to fostering a competitive business environment, which includes Indigenous owned businesses. 

To support economic reconciliation, the Saskatchewan Indigenous Investment Finance Corporation (SIIFC) was launched in 2022. The SIIFC offers up to $75 million in loan guarantees to support Indigenous-equity ownership of major projects in mining, energy, oil and gas, forestry, and value-added agriculture.

For more information, visit siifc.ca.

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