David Kimelberg, chief executive officer of Seneca Holdings LLC, writes about the necessity of tribal governments and communities diversifying their economies. Get the full article – http://indiancountrytodaymedianetwork.com/ict_sbc/achieving-economic-diversification-in-indian-country
His main point is evident from this quotation: “Our achievements in gaming and other discreet areas create a paradox: on one hand, they create needed revenues for nation and community building; on the other hand, they create vulnerabilities as our growing communities increasingly rely on single sources of revenue. As our gaming or other single industry businesses face increasing competition, legal challenges and regulatory changes, our exposure to sudden decreases in revenues rises. As most people agree, it is a dangerous position to have all of our eggs in one basket.
Most Indian nations understand the dangers of relying solely on gaming or other single industries for revenue that benefits our communities. The question becomes, how do we protect ourselves against this? The answer is economic diversification.”
I have been researching, working on, and writing about American Indian tribal and individual economic development for years.
My new book — Reservation “Capitalism:” Economic Development in Indian Country — will be published in March 2012 by Praeger Publishers. It can be ordered from Praeger now and will be shipped as soon as the book is published at: http://www.abc-clio.com/product.aspx?isbn=9781440801112