Structuring Economic Development in Native Communities
The session featured a discussion of topic-driven member-led committees and a presentation from Dustin Goslin of Mille Lacs Corporate Ventures.
Dustin currently serves as the vice president of business and economic development for Mille Lacs Corporate Ventures (MLCV). In this role, he works to build economic vibrancy in the Mille Lacs Tribal Economy by connecting people and capital to leverage sustainable investments in business, workforce housing, and planned infrastructure.
Dustin began his presentation with an introduction to the Mille Lacs Band of Ojibwe and to Mille Lacs Corporate Ventures, a business arm of the band that was formed under Section 16 of the IRA and that operates in part as an extension of the executive branch of the band’s government. Organizing the entity in this way provides their property the protection of sovereign immunity. Forming in other ways - like as a Section 17 chartered entity - provides an opportunity to waive this right and allows the entity to leverage their property to satisfy the needs of lenders and developers. Read more about tribal business structuring.
MLCV has projects in five lanes of business: gaming, hospitality, marketing, tribal economy investments, and government contracting. MLCV adheres to 3 ‘pillars’ of sustainable economic development and focuses primarily on developing projects and partnerships that support the community as a whole, such as workforce housing for tribal and non-tribal members.
See the MLVC Economic Impact Booklet for more information about their story and projects.
“Can you describe the connection between the Corporate Ventures Board and the Tribal Council? For example, How often does the Corporate Board create a strategic plan to achieve Tribal goals?”
The questions posed by participants during the session will continue to be posted in the Knowledge Bank on the CoP website with answers from the Resource Group and fellow participants. If you have questions that you want answered, please ask them in the LinkedIn group or share it with the administrators.
The session included an activity for members of the community to connect with one another and discuss their interest in forming participant-led committees or other sub-groups around specific economic development topics. These groupings are intended to give members the opportunity to meet with peers between monthly sessions and to identify, talk about, and share relevant resources with the community.
One-third of participants expressed that they are interested in forming or joining topic-based committees to discuss topics such as economic development on tribal lands, agritourism, eco-tourism, cultural heritage tourism, funding/financing, and more.
If you are interested in joining a committee or other sub-group, please share your interest with administrators using this comment box so we can connect you with committee members.