The Seneca Nation has aneconomic impactof nearly $2 billion on the economy in Western New York, according to an independent report.
The leaders from the Nation, which is a sovereign Native Nation, met with state and local officials from the state on October 22 to assess their role in the region. The economic impact cited includes thousands of jobs, hundreds of millions of dollars in local wages, payroll taxes, and more.
In the press conference, it was said that the economic impact also relates to expanding the footprint with the recent acquisition of Rochester Knighthawks highlighted. In August, it was announced that Seneca Nation’s business arm had officially acquired the lacrosse team.
“The Seneca Nation has generated 1.95 billion dollars in total economic output across New York State. In fact, that number is even low because we have such a vibrant entrepreneurial economy at the Seneca Nation,” said a speaker at the conference.
Over 8,000 jobs are said to have been contributed, along with 542.7 million in wages. A contribution of $365.9 million in taxes and other payments to the federal, state, and local government was highlighted too. The Nation ranks as the 12th largest employer in Western New York.
What businesses does the Seneca Nation have?
There are several enterprises listed under the Seneca Nation, including the Economic Development Company (SNIEDC) which provides financial services and working capital support to new and existing small native businesses, corporations, partnerships, and joint ventures.
They also own the Highbanks Campground which has over 100 campsites and cabins which are operated year round. The Seneca Energy enterprise aims to be a sustainable energy platform which can lower energy costs for the Nation and its residents.
Moving on, there’s Seneca Gaming and Entertainment which is a bingo location in Irving, New York. It also has over 650 video gaming machines and is open seven days a week.
Other enterprises include Seneca Gaming Corporation which includesseveral casinos, Seneca Holdings, Seneca Nation Federal Credit Union, and Seneca One Stops which are gas and convenience stores.
Featured Image: ViaYouTube press conference video
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