Many people have advocated economic diversification for the Nation, yet until recently this hasn’t happened. The creation of the Osage LLC and its growing investment portfolio are measures I personally applaud and would like to see more of. Although I am not privy to the inner workings or books of the Osage LLC (nor should I be), the numbers I heard posted about their investment returns is impressive.
By Benny Polacca
OsageNews.org
The Osage Limited Liability Company is partnering with two separate companies for business relationships, one of which could bring 30 jobs if a company distribution plant sets up shop at the Tulsa Airpark.
The LLC has made a passive investment with Kansas-based Duraseal Pipe Coatings Company which uses nanotechnology to make pipe coating for pipelines which carry resources such as oil and natural gas. As part of the passive investment, the LLC is inviting Duraseal to open a distribution center at the Osage Nation-owned Tulsa Airpark, which could bring more job opportunities for the Nation, LLC CEO Carol Leese said.
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Economic diversification is very important. The Osage LLC is certainly a step in the right direction. An important thing we need to remember is that in order for the LLC to be successful, we must, as a legislative body, continue to fully fund the LLC in a manner that allows them to reinvest tribal dollars. Certainly this funding must always be done with a watchful eye. However, to ask our LLC to be productive and handcuff them with a lack of appropriation minimizes their effectiveness. Our goal for the LLC is to invest in areas that will produce long term sustainable growth with a return on investment that shows good stewardship with the money of our Nation.
Very good point Jake, it is vitally important that we seperate our business and politics. I hear a lot of bickering and complaining about the LLC using our Tribal dollars; we must understand that we hired these people in good faith to do a job and earn positive returns for the Nation, we must have patience and let them do their jobs. I’m not saying to never hold the LLC accountable for their actions but at least give them a few years window to see if they can invest the funds and earn money for the Nation.
Kudos and great job on the LLC’s performance. Also developing entrepreneurs and small businesses on the reservation is also much needed. It lessens our reliance on government to provide everything to it’s citizen’s. Small business is the economic engine of the country in terms of job creation as well, that’s how you will get ahead so to speak is to be a sole proprietorship. We’ve also need to make sure there is an effective process for Osage business owners to be apart of the ’supply chain’ in terms of the businesses that the Nation engages in e.g. Casino operations, not sure if that is exists right now.
We have web savy people, we have a tribal government that can bid for grant’s on par with ou or the state of oklahoma . If we start bidding as much as we can staff and administer we can bring lots of mony to osage country and the bissenesses the will turn a profit the llc can finance.
Also micro finance has worked well in the third world helping start small bisseness in osage country cant hurt to much with the eliation of income to osage family’s as a goal.