Sustainable development the key to economic success

“The number one priority of the Stoney Nakoda Nation is to enhance tribal capacity and the ability of the Stoneys not just to function but also to flourish,” said Greg Varricchio, chief executive officer.

That goal doesn’t come without challenges. It is difficult to provide security for investment, qualified managers, and enough skilled labor.

But that doesn’t mean Stoney Nakoda Nation isn’t taking steps to address those issues, said Varricchio.

Wesley, Chiniki and Bearspaw bands comprise the Stoney Nakoda Nation and all are making moves to ensure sustainable development. Each band will be developing its own economic development plan to steer specific tribal initiatives, which have the comprehensive mandate to preserve financial, social, cultural and environmental sustainability.

The reality of business development today is that society is looking for a value-based add for it to be viable, said Varricchio.

Organizational structures and approaches need to be set in place not only to ensure the Nation’s stake but also to protect private sector and third party funds, he said. With technology evolving at such an exponential rate, the Nation is focusing on Management Information Systems to work with technology efficiently and productively to strengthen overall capacity.

When seeking business ventures, it is not just the initial but also the long-term career positions offered that are a critical aspect of the selection criteria. Guidelines are established to seek out business opportunities that ensure sustainable, self-fulfilling job opportunities and provide training for people to grow in their positions.

To address the labour shortage and enhance educational opportunities, the Stoney Nation will be using $1 million of its Heritage Trust Fund to set up an advanced education program. Through the use of a $22-million Indian and Northern Affairs Canada grant, a new elementary school was built with a savings of $5 million.
Because of transparency and best management practices the $5 million was returned to the Nation to retrofit an existing school. The idea has evolved into a Stoney education campus incorporating the existing recreation centre into the overall plan. When physical changes such as these are experienced, positive changes in the students are also seen, said Varricchio.

The sustainability plan also addresses the cyclical nature of oil and gas and the need to evolve a strategy to stabilize.

“Economics for First Nations is a closed system; people can’t be just laid off because they don’t have the means to pick up and leave,” explained Varricchio.

In the works is enhancing the Stoney Nakoda Resort and Casino with a travel centre, truck stop, buffalo paddock, chip and putt golf course and RV facilities.

“We have to make sure what we have in place is working before we undertake new ventures,” said Varricchio.
Similarly, before development of the Horseshoe Lands begins, the Nation plans to accelerate housing development to meet the needs of the people on reserve.