In the 1990s, the 12 First Nations of the Prince Albert Grand Council formed the Prince Albert Development Corporation (PADC). Since then, PADC restructured into the General Partner with Prince Albert First Nations Business Development Limited Partnership (PAFNBDLP) becoming the Limited Partner.

The company manages the investments of the 12 First Nations members and pays out annual dividends to the shareholders. It has also created many jobs and training opportunities. The company works with the partners to increase participation in the economy.