Derek Neary
Northern News Services

Kakisa (July 05/02) - A regional economic development corporation got approval from Deh Cho First Nations' leaders in Kakisa last week.

The corporation is intended to allow all 10 Deh Cho communities to participate in regional ventures that may include airlines, hotels and other businesses.

Nick Sibbeston says he was pleased a resolution was passed to create a regional economic development corporation, but he called the resolution convoluted and reflective of "poor people's mentality." - Derek Neary/NNSL photo

A limited liability partnership structure, which would enable profits to be disbursed to aboriginal governments tax-free, will be employed, consultant George Bell explained.

Profits will be shared according to the following principles:

- the population of each community

- a community's proximity to a project

- some communities, through their own development corporations, may invest more in specific projects and therefore be entitled to a greater share of the profits

- a percentage of the returns will be invested in an endowment fund for future generations

Board selection now under way

Each Deh Cho community is to select a representative to the founding board of directors within two months.

Nick Sibbeston, a businessman and politician who was present at the assembly on Wednesday, said choosing business-minded people as directors is imperative in the "mean, aggressive, dog-eat-dog" world of commerce.

"Otherwise you're going to waste a lot of time, you're going to make a lot of mistakes," Sibbeston said.

Michael Nadli, grand chief of the DCFN, noted that start-up capital would be sought from the territorial and federal government. The corporation's board is to report twice yearly to DCFN leadership, and the board must take direction from elected chiefs and Metis presidents.

"If you think you can divide business and politics, you're in another world," said Kakisa delegate Allan Landry. "You can't separate it." Although Sibbeston hailed the regional development corporation as a positive step, he condemned the resolution as convoluted and reflecting "poor people's mentality.

"It's like, 'Poor us. We have no money, we want the government to help us,' " he said, adding that the most important thing is to take action. "How many years is it going to take? Let's get going."