Like so many Canadian companies, Baffin Fisheries sprang from humble beginnings. For years, the people around Baffin Island hired a large, outside enterprise to fish their waters, charging a royalty for the privilege. This arrangement worked well, but it also meant that the people of Nunavut were only getting a fraction of the benefits from their natural resources.
In 2001, a coalition of local fishing companies set out to change that. They pooled their resources to form Baffin Fisheries, a major player that deals with both the private and public sectors on terms of equality. Even better, it brought increased revenue, employment and agency to Iqaluit and surrounding regions.
Baffin Fisheries has grown significantly in 20 years. Its newest accomplishment: An 80-metre, $72-million trawler that’s more than a traditional fishing boat—it’s a floating, sustainable factory. When the trawler rolls off the stocks in 2024, it’ll be the biggest Canadian-owned vessel in the country.
