Kitikmeot Corporation is the economic development arm of the Kitikmeot Inuit Association, and is responsible for developing business opportunities that will build an economic base in the region.
The principles upon which the Corporation strives to accomplish these objectives are:
1. Develop profitable businesses to sustain the Corporation
2. Return profits and cash to its shareholder, KIA, and therefore to Inuit beneficiaries of the Kitikmeot Region
3. Develop employment and training opportunities for Inuit of the Kitikmeot and other Regions
4. Assist smaller, entrepreneurial businesses to develop and flourish.
We manage our funds with care, choosing conservative investments that provide maximum returns. These returns will represent more than just a financial return on capital, and typically include ample training and employment opportunities for Kitikmeot Inuit. Transfer of expertise, and management training are also benefits which will accrue from our investments.
By selectively positioning our investments, Kitikmeot Corporation ensures that we take full advantage of economic opportunities arising in the region. Mining offers one of the best opportunities for Inuit to create economic wealth. By investing in opportunities which arise from mining development, Kitikmeot Corporation is able to ensure that economic impacts do not "flow south", and redirect benefits to the Inuit, and Inuit-owned businesses in the Kitikmeot Region.
Kitikmeot Polar Technologies (KPT) is a Division of Kitikmeot Corporation. The mandate of (KPT) is to invest in technology of significant benefit to, or impact on the Kitikmeot Region, or more generally, Nunavut. The establishment of a high-speed digital communications systems across the Northwest Territories is a high priority of the current Government of the Northwest Territories (GNWT), and as part of this initiative KPT has invested in PolarNet, the first internet service in the Kitikmeot Region. Through this investment, KPT will provide internet communications to Cambridge Bay, and facilitate similar communications for other communities in the Kitikmeot.
Our Role in Small Business Development
Kitikmeot Corporation (KC) and the Kitikmeot Economic Development Commission (KEDC) work together to give loans and contributions to existing Inuit-owned businesses or Inuit entrepreneurs who have an idea for a business. More detailed information is provided under "Small Business Development Programs".