Corporate Profile
IDC Today
Over the last 28 years, IDC has invested in business ventures strategically positioned to optimize each other’s success and provide return to shareholders. Today, we are a major shareholder for 20 subsidiaries working in complementary industries and realizing complementary visions.
The challenging working conditions of the Canadian North demand exceptional business practice. Business leaders succeed in these conditions only with detailed knowledge of quality control, staff training, work safety, and environmental responsibility. IDC companies, north and south, share this knowledge and follow through with superior service.
As the business arm of the Inuvialuit Regional Corporation (IRC), IDC has grown its asset base to over $135 million, with revenues in 2004 exceeding $163 million. IDC prides itself on managing these investments and revenues from its office in Inuvik, Northwest Territories using a small, dedicated team committed to low-cost operations.
IDC Mandate
IDC receives its mandate from the Inuvialuit Land Claim Agreement.
The Inuvialuit Land Claim Agreement (finalized in 1984 as the Inuvialuit Final Agreement) aims to make the Inuvialuit equal and meaningful participants in the national economy and society. In 1977, IDC received a portion of the land claim settlement funds with the directive to maximize returns for the Inuvialuit by fostering business development.
After 28 years of successful investments, IDC continues to secure financial and long-term benefits for the Inuvialuit by:
IDC Industries
IDC concentrates its investments in the Energy and Transportation industries, with additional investments in the Northern and Manufacturing industries. By strategically investing in complementary companies, we can create cost-efficient service packages for our clients, while establishing strong professional networks for our subsidiaries.
In the Energy industry, IDC companies provide a complete suite of services for petroleum operations, a spectrum of environmental services from land surveying to waste management, as well as the camps and catering required for these types of projects.
In the Transportation industry, IDC companies provide services to meet a variety of transportation needs, including air travel by jet or helicopter, marine transportation, and freight expediting.
In Northern and Manufacturing industries, IDC companies offer diverse services from grocery distribution to heavy machinery manufacturing. Through these companies IDC explores new linkages to the Energy and Transportation industries and new avenues for future business investments.
IDC Story
Archaeologists believe that about 1,000 years ago, in northwestern Alaska, there began a culture they call “Thule.” If these archeologists are indeed correct, the Thule would be the ancestors of the Inuvialuit today.
Over the past 700 years, the Inuvialuit have evolved as the Inuit from the Western Arctic, living in the flat tundra and high-reaching mountains, amid the caribou and bears, the whales and waterfowl. Since the early 19th century, the Inuvialuit built sophisticated technology to generate wealth from their natural resources. Initially they established themselves as hunters and fishers. Over the years, their skills and businesses diversified according to the ways of the world.
To secure their place in business and society, the Inuvialuit underwent 10 years of negotiation with the Government of Canada to establish the first comprehensive land claim agreement signed north of the 60th parallel, and the second in Canada at that time.
To receive and manage the benefits resulting from the land claim agreement, the Inuvialuit established the Inuvialuit Regional Corporation (IRC), under which IDC became the for-profit, tax-paying business arm for investing land claim capital.
IDC made its first investment of $10 million in 1977. The business started small, mistakes were made, lessons were learned, successes were celebrated. Over the years, experience built expertise, and although methods and priorities change over time, the commitment to safeguard the assets of the Inuvialuit remains IDC’s guidepost. Today the IDC asset base totals $135 million.
IDC Investments
IDC invests equity in progressive and profit-driven businesses.
Open to diverse wo rking relationships, IDC investments include wholly owned companies, joint ventures and shared ownership of companies.
Driven by our mandate and values, IDC invest in companies with:
IDC Promise
In our daily activities, the IDC staff team works to maintain IDC’s reputation of integrity and excellence:
We ensure that our actions and decisions are open for all to judge, e specially those Inuvialuit whose assets we hold in trust.
We do not simply ask for success from our subsidiaries, we support it.
We ensure that our work is governed by representatives of all six Inuvialuit communities, and in our activities we reach out to the people in those communities.
We, above all, prioritize the safety of all those working for IDC companies and model respect for the environment.
IDC Tomorrow
As we work o ur way into the future, IDC will continue its successes and find new opportunities for success. We will take the utmost care in managing our existing investments and selecting the most promising new ventures.
We will do this best by communicating with you – learning about your needs, hearing your thoughts about our work, and finding ways to work together.
We look forward to talking with you.
Inuvialuit Development Corporation
107 Mackenzie Road, Bag Service #7
Inuvik, NT X0E 0T0
Tel: (867) 777-2419?
Fax: (867) 777-3256
www.idc.inuvialuit.com
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