Economy
Its economy is largely service based with government as the largest employer. Small businesses that serve the community, tourism, and art work though are also found.
The local co-operative, Tununiq Sauniq Co-op a member of Arctic Co-operatives Limited, is one of the largest co-ops in Nunavut. It serves the community by managing contracts and delivering goods and services to the citizens of Pond Inlet. Some of the services T.S. Co-op provides are; school bus services, Canada Post services, First Air services, Qilaut Heavy Equipment Rentals and services, Sauniq Hotel (largest in community), Construction contracts, T.V. Cable Services, a grocery and department store, Yamaha Snowmobile and ATV repair shop, and others.
The economy is expected to boom once the Mary River Iron Ore Mine is in full operation. The mine site is approximately 160 km (99 mi) west south-west of the community and still in its developmental stage.
As a tourist destination, Pond Inlet is considered one of Canada's "jewels of the North". It is one of the most picturesque communities with mountainous ranges viewable from all directions. Icebergs are most often accessible from the community within walking distance or a short snowmobile ride in winter. Pond Inlet boasts a nearby floe edge, several dozen glaciers, explorable ice caves, and many grand and picturesque inlets. Barren-ground Caribou, Ringed Seal, Narwhals and Polar Bears are just some of the wildlife that can be encountered while traveling out on the land. Nunavut also boasts one of Canada's newest national parks named after a majestic glacier that can be viewed north of the community on Bylot Island; Sirmilik National Park.
Read more about this topic: Pond Inlet
Famous quotes containing the word economy:
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)