2022 Non-Metro QLICI of the Year Award Recipient
Ogaakaaning Wild Rice
CDEs: USBCDE LLC
Developer and owner: Red Lake, Inc.
Location: Red Lake Nation Reservation, Minnesota
The Nonmetro QLICI of the Year Award goes to U.S. Bancorp Community Development Entity for a $3.3 million new markets tax credit allocation to finance the acquisition and strengthening of the Ogaakaaning Wild Rice in Bemidji, Minnesota. Ogaakaaning Wild Rice is the first business owned by the Red Lake Nation of Chippewa to operate off the Red Lake Nation Reservation. The QLICI will make funding possible for additional equipment and inventory and will provide financing to other qualified low-income community businesses owned or led by Native American individuals or tribes. Ogaakaaning Wild Rice processes, distributes and sells northern Minnesota and Canadian wild rice. That food has a historical, spiritual and cultural importance for the Ojibwe people. The financing allows the acquisition and working capital for the existing business, which diversifies Red Lake Incorporated’s mission.
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