The
Potawatomi Business Development Corp. (PBDC) announced Monday that
Kip Ritchie was named chief executive officer of the company — the first tribal member to hold the position.
Owned and operated by the Forest County Potawatomi Community of Wisconsin for 20 years, the corporation seeks to diversify the tribe’s business interests beyond gaming to secure the future of the tribe.
“As a Forest County Potawatomi tribal member, I know what the success of the organization means to the community and I am deeply committed to PBDC’s continued growth,” said Ritchie, who previously served as interim CEO and chief operating officer.
In his role as CEO, Ritchie will be responsible for providing strategic, financial, and operational leadership for the company, as well oversee PBDC’s affiliate companies including Potawatomi Federal Group, Greenfire Management Services, Data Holdings, Sagewind Development, Fireside Market and Wgema Leasing.
Ritchie said he wants to build off of the diversification that the corporation has started
“In this next phase, I really hope to harness everything we’ve learned to continue to build out a strategy for success,” he said.
The corporation recently started a real estate development arm, Sagewind Development, which is moving forward on industrial and multifamily development in Kenosha.
“I think that’s a great example of what’s ahead for the tribe as we go out and find more real estate investment opportunities,” Ritchie said.
Ritchie said the corporation has also been getting involved in the travel center business in recent years.
“I think, again, it demonstrates the tribe’s unique qualities and abilities to diversify and create this economic engine in things other than just gaming,” he said
Looking ahead, the corporation has its sights set on the electric vehicle space and seeing how to make its mark there.
“It’s really become a significant organization, one that I think the tribe’s very proud of," Ritchie said. "For me to take over, it’s an honor and a privilege.”
The corporation has around 50 employees at its Milwaukee office and around 800 globally, which includes its subsidiaries and contract workers.
“Whether it’s inflation, costs of supplies and materials, the labor market is tight, the slowdown in the banking system—all those contribute to some concern,” Ritchie said. “But those are the same times that as entrepreneurs and leaders we be opportunistic.”
