Harvard University lifts up economic work of Nottawaseppi Huron Band of the Potawatomi
, 2023-03-16 08:26:59,
The silencing of FireKeepers Casino’s slot machines and gaming tables as a result of a state-imposed lockdown during the pandemic amplified a decision he made in 2011. Nottawaseppi Huron of the Potawatomi Indians To establish its own economic development company.
This entity – Waséyabek Development Company – had a staff of 3 and was losing money until 2018 when it started turning a profit. She currently has a portfolio of 29 companies that generated $75.4 million in revenue in 2022 and passive investments totaling $19 million in three different companies.
These revenue streams remain And your way It’s on its way to becoming a billion-dollar company by 2040, says Deidra Mitchell, its president and CEO.
“We’re diversifying beyond games,” Mitchell says of NHBP. The industry is becoming more organized and there is more competition. When COVID happened and the casinos closed, it really caught the attention of the tribes.”
Although a separate entity from NHBP with its own board of directors, Waséyabek was set up with a clear mandate from the Kabyle leadership to ensure a diversified portfolio as a way to hedge their bets. Mitchell says tribal politics and business decisions are separate.
Almost every tribe in Michigan now has an economic development…
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