First Nations Generating Billions in Own-Source-Revenue

Monday, 27 November 2017 08:21

First Nations making money in other industries that natural resources.

First Nations across Canada are generating billions in revenue for themselves -- and not only from natural resources.

A report by the Fraser Institute this week estimates that the 516 First Nations for whom have data now generate more than $3 billion annually in own-source-revenues.

By comparison, government transfers to these same First Nations totaled $5.5 billion in 2015/16. Many First Nations are increasingly involved in entertainment and hospitality ventures, that being --casinos, hotels, restaurants and land development projects including shopping centres, industrial parks and residential housing.

The oil-rich Samson Cree Nation in Alberta generated the most -- $97 million in own-source revenues including $59 million from natural resources.

Moreover, the Chippewas of Rama First Nation in Ontario generated $46.3 million in 2015/16, due in part to its casino near Orillia. None of the Chippewas' own-source revenue came from natural resources.

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