The Serpent River First Nation Economic Development Corporation has purchased an established business for future development.

EDC spokesperson, Miles Reid says Agawa Crafts and the Canadian Carver has been a popular tourist stop for over 40 years.

Reid says it is located some 75 kilometres north of Sault Ste. Marie and former owners, June and Gerry Demers, will be assisting the corporation through the transition period.

He adds three staff has been retained and the purchase is considered an investment for the community as a sustainable financial stream.