Aboriginal business is rewriting the story of the North

The language of the Yukon's native communities is changing. And it's reflected most in the words of up-and-coming young leaders like Justin Ferbey, executive director of the Carcross/Tagish First Nation.

"The federal government can't supply us with everything," Mr. Ferbey, 38, told me over lunch the other day.

"If we want true self-sufficiency as first nations then it has to be economic self-sufficiency, too."

Many of the Yukon's most dynamic business leaders - leaders period, for that matter - are members of the territory's first nations' governments. They all understand that among the responsibilities that come with self-government is the job of building an economic foundation upon which self-government can be sustained.

Calling a monthly cheque from Ottawa an economy is no longer viable. That business model is out the window. What 11 of the Yukon's 14 native communities that signed land-claims agreements needed to learn - and quickly - was the principles of investment and entrepreneurship.

Because most councils had no experience in this area, they had to employ consultants and advisers. Early on, some of the native groups got taken by unscrupulous stockbrokers who charged them outrageous fees for little return. Multimillion-dollar lawsuits were eventually filed against some of these shady dealers.

Most of the first nations councils learned from that experience and have now placed their investments in the hands of professional money managers who are used to handling multimillion-dollar portfolios. Meantime, leaders like Mr. Ferbey are upgrading their education so they can more easily speak the language of money traders and investment bankers. Mr. Ferbey is completing his MBA.

The Carcross/Tagish First Nation, located in a stunning natural setting about 45 minutes south of Whitehorse, is involved in several enterprises. It is building log homes in a joint venture with the territorial government - a business initiative with a social enterprise twist. Much of the work on the homes is being done by first nations workers. They can sign a rent-to-own agreement with the Carcross/Tagish that will make the home theirs after 16 years.

Many of those building the homes have had addiction and other dependency problems. The home-building is giving them employable skills. The project is integrated into a wellness program the Carcross/Tagish have designed to help nurse troubled members back to health.

The Carcross/Tagish are involved in other ventures as well. They own 25 per cent of Northern Windows in Whitehorse, the only manufacturer of custom windows in the North. They hold scads of land. Mr. Ferbey told me that if you put Toronto, Montreal and Vancouver together, it still wouldn't add up to the number of hectares the Carcross/Tagish control. They are looking at developing a high-end resort on property overlooking Lake Bennett. They have built world-renowned mountain bike trails on Montana Mountain. They own a chunk of the First Nations Bank.

Council of Yukon First Nations Grand Chief Andy Carvill, also from Carcross, runs a successful tourism company.

The Carcross/Tagish aren't the only ones pursuing business opportunities.

The Vuntut Gwitchin First Nation in northwestern Yukon was an early pioneer in this area. It owns 49 per cent of Air North, a highly successful, northern-based commercial airline company. The Vuntut Gwitchin also purchased a construction company and started up an ecotourism outfit called Bear Cave Mountain. They also have property holdings in Whitehorse.

The Vuntut Gwitchin have two trust funds, one comprised of blue-chip stocks and bonds and another that includes the government's many assets. It's worth tens of millions, Vuntut Gwitchin Chief Joe Linklater told me.

Then there is the Teslin Tlingit First Nation. Peter Johnston of the executive council said in an interview that after getting involved in the sawmill industry early on - a move that proved to be disastrous - Teslin Tlingit leaders decided to change strategies and invest in blue-chip stocks and more sure-bet business opportunities.

They bought a Coca-Cola distributorship in Whitehorse, as well as a Canon copier dealership. They own a furniture company, a fire-suppression business and a portion of the Yukon Hotel.

There are entrepreneurs in the small Kluane First Nation as well. Geordan Clark, general manager of Kluane Inc., the development arm of its government, said in an interview the company raised nearly $300,000 at auction in Reno, Nev., for the right to hunt a Dall sheep. The sheep must be over 12 years old - two years away from their usual life expectancy.

"We hope to get into ecotourism in a big way here," Mr. Clark told me.

"It's a beautiful part of the world where you can see things you can't see elsewhere. That presents a real business opportunity for us."

The world is changing here in the North. While there remain significant challenges, one of the best stories being written up here is being authored by Yukon's first nations.

And it's a story that deserves a wider audience.