AKWESASNE – Just over three quarters of the money Akwesasne residents and businesses spend is outside the territory. That’s according to results in a report from consulting firm MNP released today. The report was commissioned in the spring.
The Mohawk Council of Akwesasne say the so-called “economic leakage” is about 60-70% across Ontario, so the results (76% for Akwesasne) are surprising.
The MNP study shows the reserve has about $140 million of economic activity and $107 of that leaves Cornwall Island. Just under $32 million is spent in the City of Cornwall while another $25 million is spent in American towns like Massena.
Here are some more highlights from the study:
- $17.3 million is spent on food and beverages off the Akwesasne Mohawk Territory
- Most grocery shopping is done in the USA ($7.3 million) versus Cornwall ($3.6 million)
- Akwesasne spends more money at Cornwall restaurants than U.S. restaurants
MCA says the data will be useful for planning and business development. “We need to find ways to work together to support the growth of the entire regional economy,” said Grand Chief Mike Mitchell. You can find the full report on the Mohawk Council of Akwesasne website.