The Hudson's Bay Company established a trading post on Erik Cove near Cape Wolstenholme in 1909. A Catholic mission was established on the village's current site in 1938. But both locations only remained seasonal camps. In 1947, the HBC post at Erik Cove closed and a new outpost was set up in Ivujivik. This marked the beginning of the modern village as nomadic Inuit finally began to settle permanently. Not until the 1960s did the Government of Canada begin to deliver health and social services. In 1962, the Inuit established a cooperative that has allowed the community to better structure its local economy and develop new activities such as sculpture, crafts, and tourism focusing on hunting and fishing.