The Seneca Nation of New York announced the creation of a $28 million holding company that will invest and buy new businesses.
The tribe wants to diversify beyond gaming, tobacco and other ventures. Businesses on and off the reservation will be considered.
"We’re looking anywhere we can find a potential opportunity," Robert Odawi Porter, the chairman of the holdings committee, told The Buffalo News.
Seneca Holdings LLC will invest $3 million this year, followed by $5 million in each of the next five years.
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Seneca Nation to form new firm
(The Buffalo News 7/7)
Seneca Nation creates investment company (Business First of Buffalo 7/6)
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