Investing in First Nations Infrastructure: A Transformative Economic Opportunity
The First Nations infrastructure gap has long been a topic of discussion, with the detrimental effects of underfunding and failed obligations becoming increasingly evident. A recent report commissioned by the Assembly of First Nations reveals the potential economic benefits of closing this gap, shedding light on the significant impact it could have on Canada’s economy over the next seven years.
Key Points from the Report:
- Closing the infrastructure gap could generate $635 billion in economic output by 2030.
- The immediate investments needed to address this gap amount to $349 billion.
- The breakdown of funding required includes $135 billion for housing, $5 billion for digital connectivity, and $209 billion for other crucial infrastructure projects.
It is not merely about closing the gap; the investments will also contribute $1.82 per dollar invested in economic output to Canada. This presents a transformative economic opportunity that extends beyond just the First Nations communities.
The Potential Economic Benefits:
- Investing in First Nations infrastructure could lead to a $308 billion increase in gross domestic product over seven years.
- Nearly 338,300 full-time jobs could be created annually, with a significant portion held by non-First Nations people.
- The construction sector stands to benefit the most, with approximately 40% of jobs being in this industry.
The Call to Action:
Assembly of First Nations National Chief Cindy Woodhouse Nepinak emphasizes the importance of investing in First Nations infrastructure. She urges Canadians to stand in solidarity with First Nations communities and support the initiatives aimed at closing the infrastructure gap. Demonstrating a commitment to equity and inclusivity, she stresses the need for immediate action to realize the economic potential of these investments.
As the report highlights, any delay in addressing the infrastructure gap will not only lead to increased costs but also hinder the realization of economic benefits. By prioritizing investments in infrastructure projects, Canada stands to gain in various aspects, including improved educational outcomes, enhanced health services, increased tourism, and cultural preservation.
It is clear that closing the infrastructure gap is not just a financial obligation but a moral imperative. The economic benefits are substantial and have the potential to positively impact the entire country. Woodhouse Nepinak emphasizes the need for timely action, calling on the federal government to prioritize these investments in upcoming economic statements and budgets.
In conclusion, the report underscores the tangible opportunities that investing in First Nations infrastructure presents. By seizing this moment and working collaboratively, Canada can pave the way for a more equitable and prosperous future for all its citizens. Let us not overlook this chance for transformative change and economic growth.
