2011 South Dakota Indian Business Conference

Opening Remarks by Tanya Fiddler, Chair

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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

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Our Leadership

• Executive Team

• Leadership Council

• Conference Planning Committee

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A Strategic Approach to Sustainability

• Developed by Susan Woodrow, Federal Reserve Bank of Minneapolis, in 2008

• Model for Business Development in Indian Country

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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

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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.

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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

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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

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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%

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Median Income by Reservation

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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%

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Employment by Reservation

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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%

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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

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Who & What is Inspiring Our New Native America

• Partnerships– Native Entrepreneurs – CDFIs– Resources– Supporting Organizations

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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

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CDFIs: Investing in Native Entrepreneurs

$1,176,285

$5,487,864

$9,224,182$2,511,738$48,295

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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

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Kim Trujillo

• Owner of Bow-K’s in Pine Ridge

• Provides sweet treats and floral arrangements

• Funding from Lakota Funds

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Lonny White Eyes

• 2010 Micro-Entrepreneur of the Year

• Prairie Dog Eradication• Employs 3 employees

during summer months• Funding by Four Bands

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RJ Lawrence

• Lawrence Lawn Care• IDA Saver• State Business Plan

Winner• National Recognition

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Conference Overview

• Panels and Breakout Sessions designed around our business development model and policy recommendations.

• Coaching Corner

• Resource Track

• Visit our Exhibitors & Vendors