Eastern Cherokees report growth in assets after recession

Tuesday, July 23, 2013  

The Eastern Band of Cherokee Indians has seen steady growth in its assets after seeing a dip during the recession.

The tribe reported more than $700 million in assets in 2012. The increase represents a turnaround from 2008 and 2009, when net worth fell amid national economic woes.

“In the next fiscal year we have tremendous capacity to continue to shape and strategically plan for the future of the Eastern Band of Cherokee Indians, our service to our members, and our opportunities for economic development and diversification," Deputy Financial Officer Kim Peone said in a report, according to The Cherokee One Feather.

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Tribal net worth over $700 million (The Cherokee One Feather 7/22)