CanNor Funding: $250,000
Sanavik Co-operatives Association: $450,000
Financing: $1,500,000
Total Funding: $2,200,000
CanNor Funding: $250,000
Mitiq Co-operatives Association: $750,000
Financing: $1,600,000
Total Funding: $2,600,000
The Nunavut communities of Baker Lake and Sanikiluaq have been growing in recent years. To meet the communities' increasing demands, the Canadian Northern Economic Development Agency (CanNor) invested $500,000 towards the construction of two new retail buildings for the Sanavik and Mitiq Co-operatives.
The Sanavik Co-operative in Baker Lake increased in size from 3 500 ft2 to 9 600 ft2 and the Mitiq Co-operative in Sanikiluaq increased from 5 000 ft2 to 7 000 ft2. Since the new construction, both Co-ops have converted their old retail spaces into heated warehouse space. The new retail space, as well as the additional warehouse space, allows both Co-ops to stock and store more food and retail items. The increased inventory space means that the Co-ops are better able to take advantage of the summer sea lifts, reducing overhead costs. With 70 percent of the population of Baker Lake and Sanikiluaq as Co-op members, profits go back into the community.
Funding for these projects was provided through CanNor's Aboriginal Economic Development (AED) programming, which provides support for First Nations and Inuit economic development projects in Nunavut, the Northwest Territories, and Yukon.
AED is comprised of a suite of funding programs which include the Aboriginal Business Development Program (ABDP) which provides business development support to Aboriginal entrepreneurs and organizations.
