2011 south dakota indian business conference opening remarks by tanya fiddler, chair
TRANSCRIPT
2011 South Dakota Indian Business Conference
Opening Remarks by Tanya Fiddler, Chair
5/17/11 2011 South Dakota Indian Business Alliance 2
Background & History
• Established in 2007
• Mission: To enhance Indian business development by leveraging partnerships and resources of diverse institutions and organizations.
• Quarterly Meetings & Conference Calls
• Policy Roundtables & Recommendations
5/17/11 2011 South Dakota Indian Business Alliance 3
Our Leadership
• Executive Team
• Leadership Council
• Conference Planning Committee
5/17/11 2011 South Dakota Indian Business Alliance 4
A Strategic Approach to Sustainability
• Developed by Susan Woodrow, Federal Reserve Bank of Minneapolis, in 2008
• Model for Business Development in Indian Country
5/17/11 2011 South Dakota Indian Business Alliance 5
Conference SupportersWopila Tanka
• Northwest Area Foundation• Citi Foundation• Lakota Funds• Federal Deposit Insurance
Corporation• Federal Reserve Bank of
Minneapolis• Pine Ridge Area Chamber
of Commerce
• USDA Rural Development• Four Bands Community
Fund• South Dakota Community
Foundation• South Dakota Rural
Enterprise, Inc.• First Interstate Bank• Fredericks, Peebles, and
Morgan, LLP• Hunkpati Investments
5/17/11 2011 South Dakota Indian Business Alliance 6
Our Purpose
• Build.– Reservation economic climates are conducive to private
sector entrepreneurship development.
• Collaborate.– Bring together the experts to share successes in
entrepreneurship development.
• Inform.– Let media and general public know of the positive realities
in South Dakota’s reservation communities.
5/17/11 2011 South Dakota Indian Business Alliance 7
The New Native America
• South Dakota’s reservation counties experienced significant growth, meeting or exceeding the state’s economic momentum index
• Native Community Development Financial Institutions exist or are emerging on 7 of the 9 South Dakota Reservations and in Rapid City
• 10% of economic development financing came from non-bank lenders in the past year
5/17/11 2011 South Dakota Indian Business Alliance 8
Income, Employment, and Population Growth South Dakota
Sources: South Dakota Department of Labor, US Census Bureau 2000, US Census Bureau 2005-2009 American Community Survey 5-Year Estimate
Mike McCurry, Ph.D., South Dakota State University
5/17/11 2011 South Dakota Indian Business Alliance 9
Income, Employment, and Population Growth South Dakota
Growth 2000-2009
Sources: South Dakota Department of Labor, US Census Bureau 2000, US Census Bureau 2005-2009 American Community Survey 5-Year Estimate
Mike McCurry, Ph.D., South Dakota State University
South Dakota Economic Momentum Index
13.13%
5/17/11 2011 South Dakota Indian Business Alliance 10
Median Income by Reservation
5/17/11 2011 South Dakota Indian Business Alliance 11
Median Income Growth Exceeds State Average
• Median income growth on reservations 40.07%
• Compare to 27.06% for overall South Dakota Average
Reservation Median Income Growth
Crow Creek 95.18%Cheyenne River 51.24%
Pine Ridge 49.70%Standing Rock 38.15%Lower Brule 32.32%
Rosebud 29.76%Yankton 24.53%
Lake Traverse 24.22%Flandreau Santee
15.55%
5/17/11 2011 South Dakota Indian Business Alliance 12
Employment by Reservation
5/17/11 2011 South Dakota Indian Business Alliance 13
Employment Growth Exceeds State Average
• Employment growth on reservations 10.63%
• Compare to 6.83% for overall South Dakota average
ReservationEmployment
GrowthPine Ridge 31.76%
Cheyenne River 20.29%Rosebud 19.23%
Lower Brule 8.36%Lake Traverse 7.10%
Yankton 6.22%Standing Rock 6.21%
Flandreau Santee 2.36%Crow Creek -5.83%
5/17/11 2011 South Dakota Indian Business Alliance 14
Economic Momentum Index for South Dakota Reservations
• Measures momentum of county relative to overall state
• % change in employment, population, and income for the area normed to the state’s average over time
Reservation Index
Pine Ridge 33.76Crow Creek 33.74
Cheyenne River 24.15Lower Brule 19.85
Rosebud 18.18Yankton 9.62
South Dakota 13.13
5/17/11 2011 South Dakota Indian Business Alliance 15
Who & What is Inspiring Our New Native America
• Partnerships– Native Entrepreneurs – CDFIs– Resources– Supporting Organizations
5/17/11 2011 South Dakota Indian Business Alliance 16
The Native Entrepreneur
• Native entrepreneurship is expanding with support from Native CDFIs and other traditional lenders
• Microentrepreneurs are providing products and services locally, impacting Tribal revenues and quality of life
• Youth entrepreneurs are creating meaningful work and job opportunities that didn’t exist before
5/17/11 2011 South Dakota Indian Business Alliance 17
CDFIs: Investing in Native Entrepreneurs
$1,176,285
$5,487,864
$9,224,182$2,511,738$48,295
5/17/11 2011 South Dakota Indian Business Alliance 18
More Work Lies Ahead
• An Entrepreneurial Parity Gap Remains– $126 billion gap in gross receipts for American
Indian & Alaska Native businesses– Need an additional 147,000 American Indian &
Alaska Native businesses to be comparable to average American population
• Average household median income still considerably lower than state and national averages
5/17/11 2011 South Dakota Indian Business Alliance 19
Kim Trujillo
• Owner of Bow-K’s in Pine Ridge
• Provides sweet treats and floral arrangements
• Funding from Lakota Funds
5/17/11 2011 South Dakota Indian Business Alliance 20
Lonny White Eyes
• 2010 Micro-Entrepreneur of the Year
• Prairie Dog Eradication• Employs 3 employees
during summer months• Funding by Four Bands
5/17/11 2011 South Dakota Indian Business Alliance 21
RJ Lawrence
• Lawrence Lawn Care• IDA Saver• State Business Plan
Winner• National Recognition
5/17/11 2011 South Dakota Indian Business Alliance 22
Conference Overview
• Panels and Breakout Sessions designed around our business development model and policy recommendations.
• Coaching Corner
• Resource Track
• Visit our Exhibitors & Vendors