Displaying items tagged: MnoBmadsen

A trio of non-gaming tribal economic development entities has formed a rare real estate development, construction and property management joint venture that’s considered the first of its kind in the Midwest.

WAYLAND TWP. — The Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians, or Gun Lake Tribe, plans to transform hundreds of acres of property north of Gun Lake Casino into a massive development that could include retail, health care, housing and manufacturing, MiBiz has learned.

GRAND RAPIDS — Tribal leaders gathered Thursday in Grand Rapids to share the “unbelievable” amount of opportunities to diversify revenue streams and launch new investments for the benefit of tribal citizens.

Here is the MiBiz Growth report for May 23, 2022:

DOWAGIAC — Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, has co-invested in a mixed-use property that aims to play a role in the revitalization of a Southwest Michigan city.

As the COVID-19 pandemic wreaked havoc on tribal casino gaming revenue, officials with the non-gaming economic development arms of several Michigan tribes say their flow of capital and projects largely held steady.

DOWAGIAC — Seven Generations Group, a professional services portfolio of companies, is rebranding and has also managed to grow its portfolio with the formation of Blue Star Integrative Studio, a full-service architecture firm based in Tulsa, Okla., and the spin off of Kalamazoo-based Steelhead Engineering Co. 

DOWAGIAC — The CEO since the founding of Mno-Bmadsen, the non-gaming economic development and investment arm of the Pokagon Band of Potawatomi, is resigning his post to take a role at a similar tribal organization in Washington.

As a citizen of the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians and CEO of its non-gaming enterprise, Kurtis Trevan wants to leverage other corporations’ diversity and inclusion goals to the economic benefit of his fellow tribe members, as well as further the tribe’s own inclusionary spending. 

In mid March of this year, all 24 of Michigan’s tribally operated casinos fell silent, their more than 22,280 slot machines spitting out their final paydays for lucky patrons or taking one last injection of cash for the house.

DOWAGIAC — After they prepared for the opening of the Four Winds Casino in New Buffalo, the leaders of the Pokagon Band of Potawatomi years ago sought ways to use the revenues to assist tribal citizens to achieve self-sufficiency.

KALAMAZOO — Even as construction and development projects came to a halt for several weeks as states and the nation reacted to the spread of COVID-19, Seven Generations Architecture & Engineering LLC has remained busy. 

In his previous role as chairman of Mno-Bmadsen, the non-gaming economic development and investment arm of the Pokagon Band of Potawatomi Indians, Eugene Magnuson was able to help out the tribe of which he and his mother are citizens. In his new position as CEO of Little River Holdings in Manistee, Magnuson gets to leverage that experience in helping advance the economic security of his father’s tribe, the Little River Band of Ottawa Indians. He spoke with MiBiz about his long-term vision for Little River Holdings and the group’s growth strategy. 

Native American tribes that want to participate in Michigan’s fledgling cannabis industry face many bureaucratic hurdles.

Dowagiac-based Mno-Bmadsen, the non-gaming investment arm of the Pokagon Band of Potawatomi Indians, takes a familiar portfolio-based approach to its economic development enterprise. But rather than drive overall top-line revenue for its family of companies, Mno-Bmadsen is focusing on growing the combined earnings before interest, taxes, depreciation and amortization (EBITDA) of its holdings.

DOWAGIAC — The non-gaming arm of the Pokagon Band of Potawatomi Indians had acquired a majority stake in Enmark Tool & Gage Co., a Southeast Michigan precision machining company. The tribe’s Mno-Bmadsen business investment arm closed on the deal on Feb. 1, according to a statement.

Here is the MiBiz Growth Report for Oct. 29, 2018.

A tribal-owned architecture and engineering firm in Southwest Michigan plans to relocate its headquarters to a new Kalamazoo commercial development.

Because Native American tribes are sovereign nations, they’re tax-exempt and have their own statutes and regulations, although they must follow federal law. Tribally owned firms also are exempt from state and federal income taxes.

Across West Michigan, Native American tribes have started to hang out their own shingle in enterprises that move them away from the familiar tribal-owned casino.

Here is the MiBiz Growth Report for March 7, 2016.