Wells Fargo report reveals Indian Country’s “Once-in-a-Seven-Generation Opportunity”

Rhea-AI Summary

Wells Fargo (NYSE: WFC) has released a report titled Indian Country’s Once-in-a-Seven Generation Opportunity: Building Economic Resiliency That Sticks. The report examines the economic and social inequities faced by Native American communities and proposes strategies for enhancing economic resilience through diversification, building capacity, leveraging capital, and strategic partnerships. It highlights that many tribal economies are concentrated in vulnerable sectors like gaming and tourism, exacerbated by the pandemic’s impact. The report aims to guide leaders in making informed decisions for sustainable economic growth.

Positive

• The report provides a framework for leaders to enhance economic resilience in Native American communities.
• It identifies opportunities for diversification in tribal economies, reducing reliance on vulnerable sectors.

Negative

• Many tribal economies are heavily dependent on industries like gaming and tourism, which are vulnerable to economic downturns.
• The pandemic has highlighted existing economic and social inequities in Indian Country.

Report focuses on building tribal economic resiliency that sticks

Wells Fargo & Company (NYSE: WFC)

Wells Fargo's new report - Indian Country’s Once-in-a-Seven Generation Opportunity: Building Economic Resiliency That Sticks - analyzes longstanding economic and social inequities facing Native American communities, their underlying resiliency, and what can be done to secure future tribal economic resiliency. (Photo: Wells Fargo)

What:		Wells Fargo collaborated with Boston Consulting Group to create our new report Indian Country’s Once-in-a-Seven Generation Opportunity: Building Economic Resiliency That Sticks that analyzes longstanding economic and social inequities facing Native American communities, their underlying resiliency, and what can be done to secure future economic resiliency through diversification, building capacity, leveraging capital, and forming strategic partnerships.
Why:		While Covid-19 highlighted some of the harshest realities of the disparate treatment of Indian Country, it also surfaced a rare, once-in-seven-generations opportunity to reimagine how Indian Country can position itself – not just for the immediate future, but for decades and centuries to come. A recent analysis by Wells Fargo revealed, for example, that the economies of many tribal nations and communities are heavily concentrated in industries vulnerable to the impacts of an economic downturn, and in particular, gaming and tourism.   The Indian Country’s Once-in-a-Seven Generation Opportunity report offers a framework designed to empower leaders and decision-makers to act on customized recommendations mapped against a given Indian Country opportunity’s resiliency potential, feasibility for implementation, and cultural fit.
Where:	Find more and download the Indian Country’s Once-in-a-Seven Generation Opportunity report at https://www.wellsfargo.com/com/focus/tribal-economic-report/   Video commentary from Dawson Her Many Horses, head of Wells Fargo Native American Finance available here: https://newsroom.wf.com/English/press-room/default.aspx#module-videos   Graphics available upon request

 News Release Category: WF-DI

View source version on businesswire.com: https://www.businesswire.com/news/home/20221018005161/en/

Trina Shepherd, 312-339-0012

latrina.shepherd@wellsfargo.com

Source: Wells Fargo & Company

FAQ

What is the focus of Wells Fargo's recent report?

Wells Fargo's report focuses on building economic resiliency in Native American communities, analyzing social inequities and proposing strategies for sustainable growth.

How does the report aim to improve tribal economic conditions?

The report aims to improve tribal economic conditions by promoting diversification, building capacity, leveraging capital, and fostering strategic partnerships.

What challenges do Native American economies face according to Wells Fargo?

According to Wells Fargo, Native American economies are often concentrated in vulnerable sectors like gaming and tourism, which face significant risks during economic downturns.

What opportunities does Wells Fargo suggest for Native American communities?

Wells Fargo suggests that Native American communities have a once-in-seven-generations opportunity to rethink their economic strategies for long-term resilience.

Where can I find Wells Fargo's report on tribal economic resiliency?

Wells Fargo's report can be accessed and downloaded from their official website at www.wellsfargo.com/com/focus/tribal-economic-report.