HTN: Senecas Set Up New Investment Company

The Seneca Nation of Indians has formed a new investment company. Seneca Holdings LLC is expected to spend at least 28-million dollars over the next five years through a series of subsidiaries. All of those investments will be with companies that are operated, owned or run by members of the Seneca Nation or other tribes. Seneca Holdings was formed against the backdrop of potential legal threats against the Seneca's gaming and tobacco business ventures. Seneca officials say job creation and community development are key for the firm's new investment strategy.