On May 24, 2023, Six Nations of the Grand River Development Corporation (SNGRDC) hosted its Annual General Meeting to review the financial audits for 2022, highlight last year’s Economic Development Trust (EDT) funding recipients, and celebrate its successes over the past twelve months.
The presentation was conducted by Janis Monture, Board of Directors Chair; Matt Jamieson, President & CEO of SNGRDC; Paul Ciapanna, Auditor at KPMG; and Alaina VanEvery, past Chair of the EDT.
SNGRDC 2022 Financial Highlights include:
- Consolidated revenue was $42.2 million, highest amount in the history of SNGRDC
- Nation Enterprise revenue (on-reserve businesses) was $22.1 million
- Economic Interests revenue (off-reserve activities) was $18.5 million, which includes $11.1 million from the Niagara Region Wind Farm
- A $4.3 million distribution to the EDT was approved by the Board, of which $3.3 million will be transferred to Six Nations Elected Council under the new funding agreement
- Direct Economic Impact (DEI), which represents the cumulative economic impact SNGRDC has delivered to the community, is $44.5 million, an increase of $10.7 million from the prior year. SNGRDC’s total DEI since its inception in 2015 is over $210 million.
SNGRDC Performance Highlights from 2022 include:
- The construction of a washroom, pavilion, and glamping units at Chiefswood Park
- Ongoing development of the Oneida Energy Storage project, including provincial directive to advance the project
- New Joint Venture partnership with QM Environmental
- Pivot to Community Prosperity 100 by 2030
- Maintained >$5M liquidity during times of significant impact
- Transferred a cumulative total of $21.9M to the EDT
SNGRDC continues to work towards the prosperity of Six Nations and looks forward to pursuing future goals, including further improvements at Chiefswood Park, the relocation of A6N to Oneida Business Park, progressing the bid on the Hagersville Battery project in partnership with Boralex, further investment in economic interests, and the advancement of further projects in development.
The 2022 Annual Report, SNGRDC Financial Statement, EDT Financial Statement, and Management Discussion & Analysis are now available online at www.sndevcorp.ca/reports.