The organizer of an Indigenous business conference in Toronto says her goal is to establish the undeniable economic power of Indigenous peoples.

Carol Anne Hilton, founder and chief executive of the Indigenomics Institute, said Wednesday at the inaugural Indigenomics on Bay Street conference that Canada has restricted the economic opportunities of Indigenous peoples for too long.

B次元官网网址淭his country was built on Indigenous economic exclusion,B次元官网网址� said Hilton.

She said the range of ambitious Indigenous projects in the works, despite so many people still recovering from the legacies of residential schools and other harmful policies, shows the strength of Indigenous potential.

B次元官网网址淣ot only are we still here, weB次元官网网址檙e resilient, weB次元官网网址檙e powerful and we are ready to do business.B次元官网网址�

She has set a goal that the Indigenous economy should grow to at least $100 billion, about double where it is today, so that Indigenous peoples are equally represented in the Canadian economy, though she didnB次元官网网址檛 give a sense of when.

The roughly $48.9 billion share of the economy attributed to Indigenous peoples in 2020 was an increase from $41.7 billion in 2012, as the range of business initiatives grow.

Across the country, there are examples of large projects, from the MiB次元官网网址檏maq Coalition buying into Clearwater Seafoods on the East Coast, to the Squamish NationB次元官网网址檚 massive rental building project in Vancouver, to the various resource projects Indigenous peoples have partnered on in the Prairies.

Overall, there were an estimated 37,000 Indigenous-owned businesses in 2018, according to Statistics Canada.

Organizations like the First Nations Financial Management Board and the First Nations Finance Authority are helping guide some financial investments, but Hilton said there also needs to be a national body to help centralize the regulatory, investment and economic reconciliation fronts to move business investment forward.

B次元官网网址淎t this point, thereB次元官网网址檚 no central body pushing the economic ecosystem of national business organizations,B次元官网网址� she said.

There is an increasing willingness of the federal government to support major projects, with a commitment in TuesdayB次元官网网址檚 fall economic statement to establish an Indigenous loan guarantee program. That program would allow communities to invest in industries, including in natural resources, as the Indian Act prohibits First Nations from using reserve lands as collateral, making it difficult to secure financing for projects.

Hilton said part of the challenge is to also change lingering perceptions of Indigenous peoples as a cost, rather than generative and directly aligned to the economic well-being of Canada itself.

B次元官网网址淭he fiscal relationship needs to come out from under the shadows of seeing Indigenous peoples as a cost on the system.B次元官网网址�

Wil Jimmy, of WJ Strategic Partnerships, who spent decades in the banking industry, spoke at the conference about the proposed NeeStaNan Utility Corridor across the northern Prairies that heB次元官网网址檚 helping push forward.

He said that while colonization destroyed so much, and Indigenous people are still recovering, itB次元官网网址檚 important to reflect and move forward.

B次元官网网址淥nce you acknowledge your past, you deal with your past, you can start the healing process,B次元官网网址� he said.

B次元官网网址淚B次元官网网址檓 thankful that weB次元官网网址檝e emerged, and weB次元官网网址檝e arrived on Bay Street though Indigenomics, and it is our time. Our people have felt the drumbeat, which is the heartbeat of a nation. We are here, we have arrived.B次元官网网址�

READ ALSO:

READ ALSO: