Check against delivery
Elders, Chief Darcy Bear, Minister Cheveldayoff, representative from the Bank of Montreal, ladies and gentlemen, good morning and welcome. It is my pleasure to be here today in the Whitecap First Nation to celebrate the start of another project that will create jobs and contribute to the long-term prosperity of your community.
I'm starting to make myself at home here in Saskatchewan. Just a few weeks ago, I was here to sign a memorandum of understanding. In June, I helped kick off the commemoration of the bicentennial of the War of 1812. I was honoured to participate in the fourth national event of the Truth and Reconciliation Commission. And just yesterday I spoke with the Regina Chamber of Commerce about the opportunities Saskatchewan's strong economy presents for jobs, economic growth and Canada's long-term prosperity.
I also talked about the vital role for Canada's First Nations in helping to sustain our country's strong economic position, and on the concrete steps our government has taken to create the conditions for First Nations to participate more fully in our economy. Over time, greater participation in the economy will lead to healthier, more self-sufficient communities; that's good for First Nations, and it's good for Canada.
Communities such as yours are a testament to the benefits of economic development and greater labour market participation. But it doesn't just happen; it's the result of hard work by the community, strong leadership, accountability and a willingness to work in partnership with government and the private sector.
These are the ingredients that can lead to the kinds of investments we're here to celebrate today.
Our government is pleased to invest $3 million toward the development of the Dakota Dune hotel and spa.
Today's announcement is an example of the kind of project we're talking about when we speak of our commitment to strategic investments in initiatives that create jobs and new economic opportunities for First Nations communities. Along with our one-time investment of $3 million, financial support for this $26.5 million project will come from private investment and long-term financing, supported through revenue generated by this hotel-spa complex. In fact, this project is expected to turn its first profit within its second full year of operation.
Strategic investments and partnerships like the one we're celebrating today, demonstrate how forward thinking, prudent investment and strategic long-term planning can benefit an entire community.
When completed, the hotel will create nearly 150 jobs in the community. The benefits of increased traffic and tourism will benefit all businesses located in and around the community.
Improving economic opportunities for First Nations is a priority for our government. We continue to work with willing partners to achieve this goal because ultimately, all Canadians benefit from strong, healthy, self-sufficient First Nation communities.
With a projected opening date of fall 2013, much work lies ahead for your community to get this project completed. I wish you the best as construction gets underway and look forward to returning to see the results of your commitment and work. Until then, I congratulate and thank you.
