Mistawasis Development Corporation

After being elected, Chief Watson and the Council made a strategic decision to appoint and train a Board of Directors for the Mistawasis Development Corporation. The Board of Directors has completed extensive training in board member roles and responsibilities, business venture selection, and negotiating partnerships. Ray Funk, from Spruce River Research, has been retained to provide the services of a General Manager for the Development Corporation.

In addition to adopting a complete set of corporate policies, the Board has commissioned and reviewed a bison ranch feasibility study, completed an economic opportunity study (review of gas bar and store, school supplies, road construction, steel fabrication and ecotourism), and undertaken a tourism business feasibility and business plan.

MDC actively seeks business partners, in a wide range of project areas.

MDC Board of Directors: Les Pechawis, Chair Leona Daniels, Vice-Chair William Dreaver, Secretary-Treasurer Samantha Duquette Darrel Duquette Eddie Ledoux

CORPORATE MISSION AND STRATEGY

The Mission of the Mistawasis Development Corporation is the creation of a viable economic base for present and future members of the Mistawasis First Nation.

The corporate strategy is to have the Mistawasis Development Corporation invest in partnerships and joint ventures, and be a key stakeholder in every major sector of the regional economy. MDC seeks business ownership and profits, in addition to management and employment opportunities.

Chief Watson, along with Councillors and MDC personnel, attended the Leading Change Conference in Fort McMurray is September 2006.

BENEFITS

MDC seeks business ownership and profits, in addition to management and employment opportunities. Mistawasis has a mobile labour force, ready for training and deployment.

MDC GOVERNANCE

Successful economic development requires a Board of Directors with good local knowledge, management skills, specialized expertise, professional staff, and serious interest in the future of the community. MDC has this. It also has the necessary policy framework for success, which includes a four-step venture review process (meeting community criteria, then completing a feasibility study, a business plan, and a financial plan) that reduces risks, ensures prudent investments, and removes politics from decision-making.

PARTNERSHIP WITH PRECISION INDUSTRIAL

The 2006 opportunity study identified the partnership with Precision Industrial of Prince Albert, a well-established steel fabrication company, as the highest priority among the opportunities examined. Discussions with Precision’s owners produced an MOU and a joint marketing agreement, which serve as a base for the purchase of a majority share of the company by MDC. MDC Directors, the General Manager, and one of the Precision owners recently participated in a national oil sands Buyer-Seller Forum in Edmonton. Click here for full version of the partnership (PDF)