CNB revenues climb, spur growth in northeast Oklahoma

Cherokee Nation Businesses’ annual year-end audit shows the tribe’s economic development arm ended another fiscal year with record revenues. The company’s revenues grew by $96 million year over year, with revenues topping $925 million in fiscal year 2015. Our businesses continue to experience record growth and remain vital to economy of northeast Oklahoma. More importantly, those business successes mean we can do more to improve the lives of Cherokee people.

Cherokee Nation has a $1.5 billion economic impact on the state’s economy and the existence of our business arm achieves two fundamental priorities: the first is to grow the economy of the Cherokee Nation through jobs, and the second is to provide fiscal funding that supports the services and programs utilized by our citizens, like housing, health care and education.

We are also investing in things like first responders, community infrastructure like road and bridges and waterlines, as well as public parks and splash pads that improve the quality of life for area families. You can see we are all over the 14 counties and have improved so many lives. We have seen the positive impact we are making on the Cherokee Nation and the Cherokee people.

As our businesses continue to grow and succeed, so does our ability to further support the tribe and remain a positive community partner for our state, and we are partnering with local businesses and local chambers to bring in work and jobs. Part of that is ensuring we have a capable and highly skilled workforce that fulfill those quality jobs. Today, we have more students on higher education scholarships in the history of the tribe, and we expect to issue more than 4,000 higher education scholarships for the coming fall semester.

The tribe’s overall workforce grew in 2015. The company now employs roughly 6,500 people. More than 4,900 of those jobs are scattered across northeast Oklahoma. The opening of new casinos in South Coffeyville and Roland created 400 new jobs, and a new casino in Grove will soon bring 175 new jobs to that community.

Besides gaming and hospitality, the tribe’s financial arm operates businesses in industries such as aerospace manufacturing, health care, real estate, information technology, office solutions, telecommunications, environmental and construction, and security and defense.

Last year, CNB's diversified businesses portfolio secured hundreds of federal and commercial contracts totaling more than $437 million, with revenue being spread across multiple years.

In addition to a 35 percent dividend to the tribe, CNB also completed a major portion of a $100 million capital investment in Cherokee Nation’s health care system. For the first time ever, we’ve taken our casino profits and directly invested them into the health of the Cherokee people. Using casino profits earmarked for the construction of new health centers as well as the expansion of existing health facilities, the tribe opened new health centers in Ochelata and Jay and expanded health centers in Sallisaw and Stilwell in 2015.

We are addressing the housing needs of our people much quicker. Along with construction on health centers, the company is also helping build neighborhoods for the Cherokee Nation Housing Authority in communities like Vian, Roland and West Siloam Springs. These efforts better ensure Cherokee families have a better opportunity at homeownership.

I believe our citizens see the benefits of using our businesses to grow the economy. When our businesses are doing well, so are our people, our communities and our state. We have laid a strong foundation here in northeast Oklahoma, and we are building a brighter future. Just look around and you can see that.