Keshena, Wis., May 30, 2024 — The Wisconsin Indigenous Economic Development Corporation (WIEDC) is preparing an unprecedented Economic Impact Study, dedicated to assessing the vast economic contributions of both tribal enterprises and Indigenous-led small businesses and nonprofit organizations in Wisconsin. This groundbreaking initiative, the first non-gaming industry study of its kind, will establish a foundational baseline of data that illuminates the broader economic impacts and workforce development opportunities within Indian Country.
This comprehensive study is crucial as the economic significance of both tribal enterprises and Indigenous-owned businesses and nonprofits has historically been underdocumented. This has resulted in a notable gap in the understanding of their full economic contributions and the effectiveness of targeted support. By showcasing the achievements of these entities and their role in the state’s economy, WIEDC aims to provide nuanced insights that will drive more effective development policies and support mechanisms.
“The economic impact of Native-owned businesses to the overall economy is highly underestimated outside of the impact of tribal enterprises and gaming. As WIEDC works to increase financial sovereignty for Indigenous communities, this Economic Impact Study will be critical in connecting tribes and Indigenous entrepreneurs to the resources they need,” said Fern Orie, Interim CEO for the Wisconsin Indigenous Economic Development Corporation.
“Anecdotally, we also know there are Native-owned enterprises that are not registered with their tribe or the state, not marketing themselves, not securing financing to grow, and are not receiving technical assistance,” Orie continued. “This means they are effectively below the radar of statistical reporting and therefore invisible to policymakers. The first step in policymaking is understanding the nature of the situation and its impact, making this Economic Impact Study so important.”
The findings of WIEDC’s Economic Impact Study, designed to facilitate tailored development strategies and foster growth-supportive programs, will be available to tribal corporations, enterprises, nonprofit organizations, and small businesses in 2024. The key initiatives of the study include:
- A comprehensive directory of tribal enterprises and Indigenous-owned organizations participating in the study, which will be promoted to boost visibility and attract new partnerships.
- An in-depth analysis of the economic interplays between tribal corporations and the broader market, aiming to enhance economic diversity and resilience within Wisconsin’s tribal nations.
WIEDC is currently seeking participation in the study. Representatives from tribal corporations and Indigenous businesses and nonprofit organizations are invited to contribute to this study by participating in a survey that explores their economic impacts. In the upcoming months, WIEDC will conduct visits to Tribal Reservations to further engage with communities and discuss the study’s progress and findings. These sessions will provide an opportunity for direct dialogue and resource sharing.
WIEDC is a Wisconsin-based coalition of four nonprofit certified Native Community Development Financial Institutions (NCDFIs) who hold the mission to expand Native economic development in Wisconsin. This pivotal project is endorsed by the Great Lakes Inter-Tribal Council and represents a significant step forward in supporting indigenous economic development across Wisconsin. The study is conducted in collaboration with Wisconsin’s Native CDFIs and is being supported, in part, by American Rescue Plan Act funds awarded to WIEDC via the Wisconsin Department of Administration by the U.S. Department of the Treasury. The WIEDC is a Wisconsin Economic Development Corporation (WEDC) Key Strategic Partner. This research is being conducted by Becker Professional Services with guidance and management provided by WIEDC.
To participate, find more information on this study or to get involved, please visit the WIEDC Economic Impact Study webpage.
ABOUT WIEDC
The Wisconsin Indigenous Economic Development Corporation (WIEDC) is a coalition of four nonprofit Community Development Financial Institutions (CDFIs) with the mission to expand Native economic development in Wisconsin by strengthening individuals, families, communities and Native-owned businesses. The four Native member CDFIs consist of Woodland Financial Partners, Wisconsin Native Loan Fund, First Nations Community Financial, and First American Capital Corporation.
