Frequently Asked Questions
The Wolastoqey Economic Development Corporation (WEDCo) is being established to build prosperity for the Wolastoqey Nation and its communities. It will be governed by a Board of Directors.
WEDCo’s purpose is to lead and support economic development projects—either Wolastoqey-led or in partnership—that strengthen the Nation’s prosperity.
WEDCo’s governance structure is under development. Its Board of Directors will include Wolastoqey leaders, ensuring decisions reflect the interests of the Nation and its six communities.
Economic development improves a community’s economy and quality of life through policies and initiatives that support residents’ well-being.
Economic development improves a community’s economy and quality of life through policies and initiatives that support residents’ well-being.
WNNB is supporting the launch of WEDCo, but it will be a completely separate corporation from WNNB with its own CEO and Board of Directors.
We are receiving funding from federal and provincial governments to launch this corporation. In addition, WNNB is providing some in-kind support.
This will be determined by the governance structure when it is formed. Presently, we imagine that it will be on a project-by-project basis.
By leveraging a Nation-owned economic development corporation, Wolastoqey members should see more employment and training opportunities, more wealth and prosperity, and stronger communities. How funds will be distributed is a topic that will be discussed as part of our community engagement work. Sign up to receive updates to be informed about future opportunities to provide your feedback.
Our first hiring committee will be made up of the six community Chiefs. Once senior leadership has been selected and more feedback is received, the hiring practices will be reviewed and a new system will be put in place.
For the purposes of setting it up, the six Chiefs are the Board of the corporation because they are the Board of WNNB (the applicant). After that, we anticipate an independent Board of Directors based on a structure that will be informed by our community engagement work.
You can provide your email address in our survey section to be added to a mailing list that will send periodic updates as engagement continues and the organization develops.
For now, the corporation is called the Wolastoqey Economic Development Corporation, or WEDCo, until we are able to conduct a fulsome community engagement process which will inform, among many other things, the future name and logo of the corporation.
Funds will likely be distributed on a project-by-project basis.