Development Corporation made less profit but keeps head above water

The Six Nations of the Grand River Economic Development Corporation (SNGREDC) made less profit in 2021, but was able to contribute more to the Economic Development Trust. SNGREDC’s annual report was published last week and it shows a turbulent year. In 2021 the company’s total revenues for both on and off-reserve ventures was just over $23 million, while in 2020 during the height of the pandemic the SNGREDC profited more than $29 million. In the report SNGREDC continues to credit the COVID-19pandemic for its lost revenue. “During 2021, the COVID-19 pandemic has impacted the Organization’s operations, including: – temporary closures of the Organization’s sites followed by the implementation of remote working conditions for operational continuity – temporary closures included all Nation Enterprise revenue generating assets such as Six Nations Bingo…

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