Economic Development
Summary of Shared Vision
Lake Babine Nation’s businesses and members become leaders in the regional economy, and Lake Babine’s economic activities provide it with significant revenues to help implement self-government.
Lake Babine Nation’s (LBN) businesses will allow the Nation to reach high levels of entrepreneurship and employment rooted in strong Communities. They will participate in multiple sectors of the regional economy from forestry and tourism to retail and construction.
This will provide a variety of rewarding job opportunities for members.
LBN’s economy will provide its government with resources to supplement federal and provincial funding to pay for sustainable programs and services as well as investing for future generations.
Summary of Economic Development Immediate Measures, Milestones, and Key Steps
BC has provided LBN with a $15 million Economic Development Fund and negotiations are ongoing to secure a matching contribution from Canada.
The Fund will be used for:
- Corporate restructuring and corporate governance training
- Research and development for proposed investments
- Investments in capital projects for LBN businesses
- Acquisition of equity in existing and new LBN businesses
- Supplementing operating funds for LBN businesses; and
- Training and capacity development for members to seeking employment in LBN businesses and the broader labour market.
LBN will establish an Economic Development Planning Team to develop a long-term Economic Development Plan. The Team will include Lake Babine members and external consultants with strong expertise and it will consult with members. Once LBN adopts the Plan, it will seek support from Canada and BC to implement it.