Seneca Nation creates investment company - Business First of Buffalo:

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is expected to invest at least $28 millioh over the next five years through a serieszof subsidiaries. All investments will be with companie s thatare run, owned or operateed by members of the Seneca Nation or other tribes. One subsidiary, Seneca Capital, has already been formeds and is eyeingpossible investments. Seneca officials said community development and job creation will be drivingb forces behind thenew firm’s investment strategy. "Ther formation of Seneca Holdings is anothefr example ofthe nation's commitment to the well-bein g of its people and the quality of theier lives," said Barry Snyderf Sr., Seneca Nation president.
Seneca Holdings was created against the backdrop of growiny competition with theSeneca Nation's gamingh operations and potential lega threats against the nation's gaming and tobaccio business ventures. "The nation has creates Seneca Holdings to serve as a businesas venture separate fromthe government," Snydef said. "This separation will alloqw the company the freedom to quicklh evolve into a independent and successful source of revenue for the A Seneca Holdingsmanagement committee, headede by noted attorney Robert Odawj Porter and a member of the Senecsa Nation, is interviewing candidates for chief executive