| Ho-Chunk, Inc.: Press release |
Return To Press Area Contents09.09
Ho-Chunk, Inc. celebrates 15 successful years
Ho-Chunk, Inc. (HCI), the award-winning economic development corporation owned by the Winnebago Tribe of Nebraska, will celebrate the 15th Anniversary of beginning business operations with an Open House to be held on Friday, September 18th from 1-3 p.m. at the Ho-Chunk Corporate Building in Winnebago, Nebraska. The celebration will include food, beverages and giveaways.
HCI was formed in 1994 to diversify the Tribe’s investments away from gaming. The goal was to develop an entrepreneurial company to recognize and develop various economic opportunities, provide job opportunities for Tribal members and enable economic self-sufficiency for the Tribe.
Initially HCI was financed with gaming income but in just a few years increased gaming competition eliminated the financing. By necessity, HCI became an innovative and aggressive entity committed to developing new revenue streams for the Tribe.
From a single employee on the Northeast Nebraska reservation in 1994, HCI has grown into a visionary global enterprise today, with over 1,100 employees with operations in Nebraska, Iowa, South Dakota, Minnesota, Kansas, Indiana, Louisiana, Georgia, Florida, California, Wisconsin, Washington, D.C., Afghanistan, Mexico and Iraq.
HCI now operates 18 subsidiaries in a diverse range of industries including information technology, construction, professional services, distribution, office products and technology, marketing, media and retail. In addition to business-to-business and business-to-consumer marketing, HCI subsidiaries are actively engaged in the federal government contracting arena. HCI companies have developed expertise in working with a variety of government entities to provide outstanding products and services on time and on budget.
From an initial $9 million investment by the Tribe, HCI’s annual revenue rose by 27% in 2008 to reach $156 million and profits grew by 160% to $2.6 million. The company’s assets grew to $49.2 million and shareholder equity grew to $18.6 million in 2008.
HCI also shares its success with the community in other ways. In 2001, HCI started the Ho-Chunk Community Development Corporation (HCCDC), a non-profit organization, whose mission is to make the Winnebago Reservation a better place to live. HCCDC has exceeded even the best projections, raising millions of dollars for community based social, health, economic, housing and entrepreneurial activities.
HCI and HCCDC combined efforts to build the Ho-Chunk Village, a new residential and commercial development for the community of Winnebago. It features five commercial buildings, two apartment buildings, several single-family homes. It is a stunning example of economic development for not only a Native American tribe but for a small rural community as a whole.
