Europeans back Native tourist site at Athabasca

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The vision for success that started as a drawing on a cocktail napkin six years ago has now been etched in stone, says Native neophyte businessman Leo Jacobs.

Jacobs has finalized a deal with European investors for the construction of a $50 million international tourist resort in northern Alberta.

And the long awaited announcement couldn't have come at a more fitting time.

Jacobs made the surprise statement during a banquet presentation at the 1989 Indian Economic Development Conference at the Edmonton Inn.

After offering a toast to the meeting's guest speaker, Native businessman Billy Diamond, Jacobs told the 1000 people in attendance that his dream of building a Native cultural centre on the banks

of the Athabasca River will become reality.

Jacobs, president of Blackstar Development Corp. of Edmonton, noted his own success story could be offered as a shining example of Native entrepreneurs reaching their potential.

During negotiations with a European banking consortium "we gained an understanding of what Native culture is, and that it must be maintained authentic and true to who we are, regardless of

Indian, Inuit or Metis," he said.

Jacobs would not reveal specifics of the deal but said he will soon be holding a press conference after inviting the chief of Alberta to attend.

The three-phased project, scheduled to be completed by 1998, will be focused entirely on Native heritage.

The facility will include a convention centre, golf course and a 232-room hotel when the project is finished.

Jacobs, 35, said he had no previous business experience before coming up with the plan six years ago over a drink with friends at a local pub.

Diamond, former chief of the James Bay Cree in Quebec, lauded Jacobs for pursuing his dream to make his vision a reality and said he is breaking ground for Native businessmen across Canada.

"He's broken the market in Europe where I've been unable to. It shows that the world is interested in Native people in Canada," he said.

Diamond, founder of AirCreebec airlines, has gained world acclaim for his business ventures in Canada and Asia.