Utoo Radio and Other News Sources - September 30, 2024 - ATB has released its second Indigenous impact report, highlighting the contributions of Indigenous Albertans to the economy and the gaps where their impact could be amplified.

The report, in partnership with MNP, shows an improvement in Indigenous contributions to the economy, estimated to be more than $3 billion additional dollars to the provincial GDP in 2023 compared to 2019.

The Indigenous economy contributed $9.2 billion to Alberta's GDP in 2023, up from $6.74 billion in 2019.

The report is in line with Number 92 of the Truth and Reconciliation Committee's Calls to Action, which addresses business and reconciliation.

The report suggests two key methods of decreasing the income gap: increasing participation in the labour market and increasing representation in higher skill jobs.

The report also discusses the need for investment in developing capacity within Indigenous communities, starting with increasing the number of Indigenous individuals with a university-level credential.

Closing the income gap could increase Indigenous household spending by $3.2 billion, add more than 13,000 jobs, and generate tax revenues of $600 million.