Loading AI tools
American conglomerate holding company headquartered in Catoosa, Oklahoma From Wikipedia, the free encyclopedia
Cherokee Nation Businesses, LLC (CNB) is an American conglomerate holding company headquartered in Catoosa, Oklahoma that oversees and manages several subsidiary companies. CNB is a wholly owned subsidiary of the Cherokee Nation, the largest Native American tribe by population in the United States. CNB operates in the following industries: aerospace and defense, hospitality and entertainment, environmental and construction services, information technology, healthcare, and security and safety.
 | This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these messages)
|
| |
| Company type | Tribal-Owned Enterprise |
|---|---|
| Industry | Conglomerate |
| Founded | Tahlequah, Oklahoma, US (2004) |
| Founder | Cherokee Nation |
| Headquarters | Catoosa, Oklahoma |
Area served | Worldwide (Primarily United States) |
Key people | Bill John Baker (Executive Chairman) Chuck Garrett (CEO) |
| Revenue |  US$ 1.02 billion (2017) |
| US$ 114.3 million (2017) | |
Number of employees | 7,500[1] |
| Website | CherokeeNationBusinesses.com |
Cherokee Nation Businesses was established on June 16, 2004. CNB is a wholly owned subsidiary of the Cherokee Nation. The tribe exerts control over the operations of CNB through the Board of Directors. Upon its establishment, CNB became responsible for providing "strategic direction" to all Cherokee Nation of Oklahoma-owned businesses, to diversify the Cherokee Nation business holdings, and to act as a holding company for some Cherokee Nation of Oklahoma business investments. CNB receives revenues from its subsidiaries in order to fund the expansion of existing firms and the acquisition of new ones. CNB was established to diversify the business interests of the Cherokee Nation of Oklahoma.[2] At its establishment, pursuant to the Cherokee Nation of Oklahoma Corporation Reform Act of 2002, 25% of all CNB profits were to be reinvested with the Tribal Government as dividend payment.
Pursuant to the provisions of the Cherokee Nation Jobs Growth Act of 2005, CNB became the holding company for all business enterprises, including Cherokee Nation Entertainment (CNE) and Cherokee Nation Industries (CNI). CNE was transferred to CNB ownership in 2006 and CNI was transferred in 2008. Prior to these transfers ownership of CNE and CNI were held directly by the Cherokee Nation of Oklahoma. At its establishment, CNB was governed by its own board with both CNE and CNI governed by separate boards of their own. In 2010, the separate boards were dissolved and consolidated into a single CNB board. The same year, the Cherokee Nation of Oklahoma enacted the Dividend Act of 2005, which increased CNB's annual dividend payment to the Tribal Government from 25% to 30% of a total profits.[citation needed]
CNB established its Environmental and Construction Division in March 2005 with the establishment of Cherokee CRC.[3] The Division provides environmental consulting, construction engineering and management services, environmental remediation services, and scientific research and development (including laboratory testing) for government agencies as well as for chemical, oil and gas, manufacturing and waste companies. The Division was expanded in 2008 with the establishment of Cherokee Nation Construction Services' to offer construction management services. In February 2010, CNB announced the closure of CNB Manufacturing Division's construction unit due to constant financial problems.[4] The unit's assets were moved from CNB's Manufacturing Division into its Environmental Division. The CNB Manufacturing Division's defense contracting mission was expanded in August 2008 with the acquisition of Alabama-based Aerospace S.E., Inc., which provides aerospace product distribution and supply chain services for the United States Department of Defense.[5]
In August 2010, in order to implement the provisions of the Jobs Growth Act of 2005, CNB consolidated its various internal support and administrative service operations into a single structure located in Tulsa, Oklahoma. The new office complex houses several of CNB's operating divisions as well as CNB-wide corporate support staff offices.[6] CNB's Manufacturing Division remained headquartered in Stilwell, Oklahoma, with CNB's gaming operations and corporate headquarters remaining centered in Catoosa, Oklahoma.
CNB established its Security and Defense Division in July 2010.[7] The Division provides security services, including property surveillance and guard services. Additionally, through the acquisition of Kellyville, Oklahoma-based Cherokee Nation Red Wing, the Division serves as a defense contractor by manufacturing and assembling electronic parts for the United States Department of Defense and the aerospace industry.[8] In July 2012, the Manufacturing and Distribution Division's telecommunications group expanded with the acquisition of a 143,000-square foot building at the MidAmerica Industrial Park in Pryor, Oklahoma, establishing the CNB Distribution Center in the process.[9]
CNB completed the acquisition of Mobility Plus, a Muskogee, Oklahoma-based supplier of health care equipment, in November 2011, expanding CNB's Healthcare Division in the process.[10] That same month, CNB purchased expanded its Technology Division through the purchase of two Colorado-based companies: ETI Professionals Inc. (which was renamed Cherokee Nation Government Solutions) which offers strategic technology project management and staffing solutions[buzzword],[11] and ITX Inc. (which was consolidated into Cherokee Services Group) which provides full-service computer and information technology services to United States federal government and commercial entities.[12]
In November 2011, at the request of Principal Chief of the Cherokee Nation of Oklahoma Bill John Baker, the Cherokee Nation of Oklahoma enacted the Corporate Health Dividend Act of 2011, which increased CNB's annual dividend payment to the Tribal Government from 30% to 35% of a total profits. The 5% is earmarked to support the provision of healthcare services to Cherokee citizens.[13] In March 2012, CNB sold its corporate airplane at the request of Chief Baker. Baker had promised the sale of the plane as part of his 2011 election campaign.[14] The proceeds of the sale (approximately $1.5 million) was given to the Cherokee Nation of Oklahoma to supplement its funding of healthcare services for Cherokee Nation of Oklahoma members.
CNB purchased a 298,000 square foot building in Tahlequah, Oklahoma, in November 2012 in order to allow for future expansion of its manufacturing operations.[15]
The Cherokee Nation Principal Chief, with the approval of the Cherokee Nation Tribal Council, appoints all members of the Board of Directors of CNB. The current Chairman of the Board is Sam Hart, having served in that position since February 14, 2012.
The current chief executive officer of CNB, Chuck Garrett, has been CEO since August 2019, replacing Shawn Slaton, who had served as CEO since 2011. [16] Garrett is a graduate of the University of Oklahoma and Harvard Law School. A native of Muskogee, with family ties in Adair County, and a Cherokee Nation citizen, Garrett worked in real estate investment, asset management and investment banking prior to returning to Oklahoma to join CNB in 2013.
For the fiscal year ending September 30, 2011, Cherokee Nation Businesses reported a net income of $91.5 million on $653.5 million of revenue (a 14% profit margin).
Chief Operating Officer: Mark Fulton
CNB's Hospitality Division oversees the company's portfolio of retail, hotel, gaming, and entertainment assets. The Division operates through its primary subsidiary: Cherokee Nation Entertainment (CNE). CNE was formed in the late 1980s and is the holding company for all gambling, gaming, entertainment, and hospitality operations of the Tribe. CNE operates ten casinos, three hotels, a horse racing facility with electronic gaming machines, retail and convenience shops, entertainment venues, golf courses, and cultural tourism programs. CNE operates casinos in the following Oklahoma locations:
CNE also operates Gold Strike Tunica in Mississippi
CNE is itself the holding company of Will Rogers Downs LLC and Cherokee Hotels. WRD owns and operates a horse racing and casino facilities in Claremore while Cherokee Hotels is responsible for owning and operating hotels managed by CNE in Tulsa, Roland, and West Siloam Springs.
In Oklahoma, CNE is regulated by the Indian Gaming Regulatory Act (IGRA). IGRA mandates that all Class III gaming operations can only be conducted on Tribal land held in trust for the tribe by the Bureau of Indian Affairs.
The Mississippi Gaming Commission regulates Gold Strike Tunica.
Division President: Chris Moody
CNB's Manufacturing and Distribution Division provides products and services to the commercial and defense aerospace industry, leading telecommunications companies, and government and commercial clients in need of facility and office solutions.[buzzword] The Division's predecessor was initially formed in 1969 as the first business entity owned by the Cherokee Nation of Oklahoma. The Division is a defense contractor for the United States Department of Defense.
The division is the holding company for several subsidiaries under the umbrella Cherokee Nation Industries (CNI) brand:
Cherokee Nation Businesses' Federal Solutions companies provide information technology, management, consulting, medical, professional, environmental, and construction services. The companies also offer management and support of programs, projects, professionals and technical staff.
Senior Real Estate Development Manager: Brian Hunt
Cherokee Nation Businesses' Real Estate Division operates primarily through Cherokee Nation Property Management (CNPM). CNPM offers several real estate options, including management, development, acquisitions and leasing. The division generates revenue and develops long-term strategies for commercial development while managing more than 3 million square feet of property.
Division President: Russell Claybrook
CNB's Security and Defense Division provides security and protection products and services to commercial and governmental clients. The division is also a defense contractor for the United States Department of Defense that provides on aviation weapon systems life-cycle support, with locations across the United States in key military bases.
Division President: Cheryl Cohenour
The Environmental and Construction Division provides clients with environmental, construction and professional services. The Division oversees project management through effective engineering, scheduling, safety and financial management controls.
Division President: Steven Bilby
CNB's Technology Division provides a full spectrum[citation needed] of IT services and technology solutions.[buzzword] It offers management and support of programs, projects, professionals and technical staff, with a primary focus on information technology, mission support, and research and development
In 2011, Cherokee Nation Businesses began the process to expand its business operations in renewable energy operations. In December 2011, the Cherokee Nation Tribal Council authorized CNB to seek a grant from the United States Department of the Interior in order to construct a $144 million hydroelectric dam along the Arkansas River in Sequoyah County, Oklahoma. The dam is expected to be completed by 2015 and generate between $10 million and $15 million in annual revenues for CNB.[17] After winning Tribal Council approval in December 2012, CNB plans to construct a wind energy farm in Kay County, Oklahoma, with financial support from a grant by the United States Department of Energy's Office of Energy Efficiency and Renewable Energy.[18] Once fully construction, the wind farm is expected the generate between $16 million and $19 million in annual revenues for CNB.[needs update]
Seamless Wikipedia browsing. On steroids.
Every time you click a link to Wikipedia, Wiktionary or Wikiquote in your browser's search results, it will show the modern Wikiwand interface.
Wikiwand extension is a five stars, simple, with minimum permission required to keep your browsing private, safe and transparent.
