Another way that modern treaties foster economic activity in their regions is through Impact and Benefit Agreements (IBAs).  These are confidential, negotiated agreements between modern treaty organizations and industry. They often include commitments to local hiring, procurement and financial payments. IBAs are intended to:

• Provide for benefits to Indigenous communities for allowing activities within their territories (mining, logging, etc.)
• Address potential negative impacts from activities
• Provide for Indigenous participation in decision-making

This means that when major projects happen local people benefit, especially modern treaty members. Examples of Impact and Benefit Agreements include:

• Tłı̨chǫ Government: Diavik and Ekati Diamond mines
• Selkirk First Nation: Minto mine
• Nunavut: Baffinland, Meadowbank, Meliadine and other mines, National Wildlife Areas and Migratory Bird Sanctuaries, Territorial Parks
• Tla’amin First Nation: Forest and Range Revenue Sharing Agreement (Forestry)

When a local person is hired or there are contracts to a local business, most of those wages or income is spent in the region. Grocery and hardware stores, real estate markets, automobile dealers, restaurants, and many other local and regional businesses benefit from each job or contract.