The Evolution of the Nunatsiavut Group of Companies
The creation of the Nunatsiavut Group of Companies (NGC) is the result of over 30 years of business being carried out by and on behalf of the Labrador Inuit.
The NGC predecessor, Labrador Inuit Development Corporation (LIDC) was incorporated in 1982 as the business arm of the Labrador Inuit Association. The mandate of the LIDC was to improve the living conditions of the Labrador Inuit by providing employment opportunities, with particular focus on traditional Inuit skills, and to promote education and training of Inuit to meet the requirements of the labour market. The early years saw business lines in the fishing industry, forestry and a quarry to produce dimension stone – the “blue eyes” granite gained international notoriety. Considerable investment was made in the development of capacity, in terms of both human resources and equipment. Capacity and expertise was developed in heavy equipment operation, quarry management, tree harvesting, sawmills, marine operations, and logistics. LIDC managed its operations out of offices in Nain, Postville, and Goose Bay.
The Labrador Inuit Claims Agreement was signed in January 2005 and the Nunatsiavut Government was formed, replacing the Labrador Inuit Association. The Nunatsiavut Government established the Labrador Inuit Capital Strategy Trust (LICST) in 2006 to lead the business affairs of LIDC. The LICST serves as a separation of Â business from government and set out to transition LIDC from a not for profit company to a for profit company that generates earnings and cash that the LICST can then reinvest in the Nunatsiavut Region.
Incorporated in 2011, the Nunatsiavut Group of Companies and its subsidiaries are the for profit Investment Holding Company and business entities the result of 30 years of business and capacity building.