Red Lake Inc., an economic development enterprise of the Red Lake Band of Chippewa Indians, and its subsidiary, Ogaakaaning Wild Rice LLC, expanded its wild rice business to better serve its tribal citizens and the surrounding community.
Travois deployed $3.25 million in New Market Tax Credits to help fill a financing gap.
Ogaakaaning Wild Rice LLC acquired an existing business, KC Best, and expanded the Red Lake Nation Foods family of companies. These companies harvest, manufacture and sell walleye, wild rice, chokecherries and other products that are a big part of Red Lake’s Ojibwe culture.
This investment ensures more of this product is coming from an Indigenous provider that operates in a culturally and environmentally sustainable manner.
At a Glance
- Native Organization: Red Lake Inc.
- Date Closed with Investor: 2021
- Date Completed: 2021
- Development Type: Business
- Project Status: Complete
- Total Investor Equity: $930,450
- Total Project Cost: $3,250,000