Economic development is defined as ‘the process of developing and maintaining suitable economic, social, cultural and environmental conditions, in which balanced growth may be realized, increasing the wealth of the community and residents’. Simply stated, we are attempting to plan for the future of our communities which includes economic or business growth, environmental concerns and cultural awareness, and revitalization within a healthy community.
Developments that will be successful must take into account the environment into which they are introduced. By environment, we mean that the development must take into consideration the current and past cultural practices, social conditions of the community, beliefs and knowledge (Inuit Qaujimajatuqangit). We must have the ability both educationally and technically to bring the development into existence and we must have the resources to initiate and sustain the development. No society, Hamlet or person willingly wants to damage the land on which they live as this does not provide for the children of tomorrow.
