Nunatsiavut Group of Companies (NGC)

Members

Nunatsiavut Group of Companies (NGC), Happy Valley-Goose Bay, Labrador, NL

The Nunatsiavut Group of Companies (NGC), formerly known as the Labrador Inuit Development Corporation (LIDC), is the business arm of the Nunatsiavut Government. Reporting to the Labrador Inuit Capital Strategy Trust (LICST), the Group’s business lines include marine transportation, air transportation, commercial real estate, construction, remote camp operations, logistics, heavy civil and approximately 40 years in the commercial fishery operations. NGC’s mission is “To create wealth in trust for Nunatsiavut Beneficiaries by owning profitable, sustainable businesses”, and “To be an Inuit-led business leader in the North.”

Over the last 40-plus years, NGC has grown organically and through acquisition, with revenues increasing from $3 million early in its history to $40 million today. NGC will continue to play a significant role in the fishery and invest in the industry, while also contributing to the development of the Nunatsiavut region through corporate and social investments. NGC is the majority owner of one Northern Shrimp licence, Pikalujak Fisheries and harvests its Northern Shrimp and Greenland Halibut quotas through a strategic partnership with another fishing company. Annually, the organization employs approximately 500 people across 17 corporate subsidiaries, partnerships, and affiliations, the benefits of which accrue to 7,000 land claim beneficiaries.

(Note: communities served by Torngat overlap with NGC.)