The Indian Country Private Sector Project (ICPSP) intends to revitalize tribal economies. Though many people believe Indian tribes are culturally noncommercial, tribes engaged in transcontinental trade long before Europeans arrived in America. Robust economies meant Indians were healthy and wealthy by standards of the day. Things are different today as reservations commonly struggle with poverty and unemployment. The ICPSP will provide education about the importance of tribal legal institutions to tribal economic development.
Many tribal codes are underdeveloped, particularly in matters of commercial law. Without easily accessible and practical laws, businesses are mired in uncertainty when operating on tribal land. This deters businesses from investing in Indian country. While federal laws also impede investment in Indian country, tribes have little control over federal law. However, tribes can improve their commercial laws, which should positively affect their economies.
The ICPSP is a multifaceted initiative designed to stimulate private sector development on reservations. The ICPSP will offer trainings for tribal leaders and judges on the connection between law and economic development. The ICPSP will create forums for tribal leaders and business leaders to interact in hopes of creating economic opportunities. The ICPSP will collect data and support research on tribal economies. The ICPSP will bring tribal leaders, businesses, and academics together each year for an annual conference. If tribes develop strong legal institutions and relationships with potential investors, tribes can develop vibrant private sector economies.
If ICPSP succeeds, reservation residents will have increased economic opportunities. It will show free markets can help the poorest of the poor. Additionally, the ICPSP respects tribal cultural. Tribal citizens are designing ICPSP programs, and no tribe is forced to participate or adopt its ideas.
