The Yukon Indian Development Corp. (YIDC) has become the third-largest shareholder in Northern Vision Development, the company announced recently.

Northern Vision president Piers McDonald said Monday his company was in discussion with the development corporation for about three or four months. The deal was finalized in the last couple of weeks.

Northern Vision had approached YIDC when it was originally seeking out investors in the Yukon, though the corporation didn't feel it was the right time to become a shareholder, McDonald explained.

Since then, he said, Northern Vision has made some investments and raised some capital that renewed the corporation's interest in the company, which is owned by some 40 to 50 shareholders from Whitehorse and Calgary.

YIDC, he said, is much like Northern Vision in that it too is in the business of investing in other companies.

Having a good relationship with other companies in the same business makes good sense, McDonald said.

'They are a shareholder that has the capacity to raise more capital if they wish, like most of the shareholders in Northern Vision Development.'

McDonald said the development corporation also brings with it connections to first nations and other private-sector investments.

The corporation is under no obligation to share those connections, though the new relationship between Northern Vision and the corporation does create the opportunity to do so, he said.

McDonald, who also serves as chair of the board for Northern Vision, said a recommendation will be made to Northern Vision's shareholders to accept as seat on the board for the corporation.

Northern Vision, which purchased the Gold Rush Inn this past summer, is currently building the Spook Creek Station, a business complex across from Wal-Mart and next to the government building on Quartz Road.

It was formed in 2003, with its roots tied to Waterfront Place Development, the Whitehorse-based company that held numerous waterfront lots behind Boston Pizza on Second Avenue, lots which became part of Northern Vision's assets.

Northern Vision is also involved in the development of the Waterfront Business Park involving the development of 47 industrial lots in the Marwell area.

The YIDC is owned by the 14 Yukon first nations and three first nations from northern B.C.

Corporation president Judy Gingell said in the recent press release Northern Vision is now playing a large role in the Yukon economy with its recent acquisitions and developments.

'This is a strategic investment for YIDC,' she said. 'We look forward to realizing our visions together and seeing first nations taking an even larger role in the Yukon economy.'