We Invest in Nunavut.
The Nunavut Land Claims, which was settled in 1993, included a commitment for the establishment of a separate territory. Subsequently federal legislation was passed in the form of the Nunavut Act, which constitutionally allowed for the new territory and the new Government of Nunavut to be implemented commencing April1, 1999.
The new Nunavut Territorial Government would require an infrastructure of office buildings, legislative facilities and staff housing. The decentralized model of the government magnified these requirements
Inuit leadership through NTI recognized that these infrastructure needs contained the elements of a significant investment opportunity for the Inuit beneficiary corporations along with substantial business opportunities that would provide a great boost to Nunavut economic development.
After the “partnering arrangement” was negotiated, with agreement reached by all parties NCC was established as an “arms length” private corporate vehicle by which the Inuit could pursue these economic opportunities. The four beneficiary corporations became the owners of NCC, taking equal shares of 25% each.
The project included 10 Office buildings in 10 different communities to accommodate the decentralized model of government.. The Iqaluit location includes facilities for the Legislative Assembly. 250 staff housing units were allocated to 11 different communities, aligned with the regional administrative centers.
We continue to work in partnership with our shareholders. We participate in sustainable development, employing Inuit workers and contractors. We generate wealth for our shareholders, our employees and our suppliers. We are helping to build Nunavut.