OPINION: Successful CNB businesses reinvest in CN service programs
Building safe homes, increasing scholarship opportunities and offering accessible health care to our citizens are essential services provided by the Cherokee Nation tribal government. Our ability to deliver vital programs is dependent on our success at Cherokee Nation Businesses. Hospitality and entertainment are the foundation of our economic success, but our diversified businesses, or non-gaming business ventures, now account for about 35 percent of CNB’s total revenue.
Several years ago, we concluded that gaming should be a portion of our economic portfolio but not all we do. We originally called this line of business “diversified” because we had to find a way to lessen our dependence on gaming.
CNB’s diversified businesses, which include 29 companies outside of the gaming industry, achieved more than $1 billion in federal and commercial contract wins in fiscal year 2017. Since 2010, the companies have increased their revenue and profitability significantly, which means they can provide a larger dividend to Cherokee Nation for critical services and programs, like education, housing and health care.
Federal contracting is a market with great potential. The U.S. government is the largest customer in the world, and we will continue creating expertise and securing contracts to bring dollars home to the Cherokee Nation. The hard work of our team, led by CNB’s President of Diversified Businesses and Cherokee Nation citizen Steven Bilby, has made CNB one of the most successful mid-level government contracting businesses in the world.
We have employees in 49 states and contracts in a variety of industries. Whether it is providing disaster relief services for FEMA, serving our Armed Forces through medical readiness exams or helping develop a cure for deadly diseases like the Zika virus, CNB has a significant footprint around the globe and serves more than 60 federal agencies.
Our reputation and results are stellar, and the success brings CNB positive exposure on a national stage.
Yes, we continue to offer hospitality jobs to Cherokee Nation citizens within our 14 counties, but now citizens have opportunities to secure employment in technical and specialized fields across the country.
Helping create career opportunities for Cherokee Nation citizens for the next several decades is essential. It is equally important to instill in Cherokee children the dream of a remarkable career that is with the Cherokee Nation. Creating a highly skilled tribal workforce, along with the jobs, will sustain our tribe for generations.
Our mission always will be to grow Cherokee Nation’s economy here at home, and we have done that, but our mission is multifaceted. CNB’s profits outside the 14 counties help support the tribe through an annual dividend. The more success we have in federal contracting, the better we serve Cherokee Nation citizens. I look forward to an even more successful 2018 as our businesses on all fronts continue to grow and thrive.