VERONA, N.Y. — The Oneida Indian Nation, through its various enterprises, increased spending with New York state vendors by more than $64 million in 2022 due to expansion and diversification efforts. The Nation expects that pattern to continue into 2023 as it undertakes several new initiatives to improve, expand, and diversify its many business enterprises. […]
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VERONA, N.Y. — The Oneida Indian Nation, through its various enterprises, increased spending with New York state vendors by more than $64 million in 2022 due to expansion and diversification efforts.
The Nation expects that pattern to continue into 2023 as it undertakes several new initiatives to improve, expand, and diversify its many business enterprises.
“One of the things the Nation has uniquely proven in 30 years in business is when you invest in the future and not just the short term, the results are beneficial,” says Joel Barkin, VP of communications at the Oneida Indian Nation. And those results benefit the entire region, he adds.
In 2022, the Nation spent more than $254 million with 1,371 vendors across the state, an increase of 34 percent from $190 million in vendor spending in 2021. Much of that rise came from a 211-percent jump in capital-project spending as the Nation completed projects including The Cove at Sylvan Beach, an employee-housing complex in Verona, and the transformation of Turning Stone Resort Casino’s buffet into 7 Kitchens.
Vendor spending in Oneida County increased 22 percent to $14.7 million, while it rose 155 percent to $7.7 million in Madison County, and 79 percent to
$81.8 million in Onondaga County. During the year, the Oneida Indian Nation worked with 306 vendors in Oneida County, 167 vendors in Madison County, and 402 vendors in Onondaga County.
“The growth of our enterprises provides the opportunity to increase our economic footprint and partnerships throughout the region, and these increased investments are a testament to this fact,” Oneida Indian Nation Representative and Oneida Nation Enterprises CEO Ray Halbritter said in a statement.
Vendor spending isn’t the only business metric that rose last year. “The Nation’s payroll also increased significantly in 2022,” Barkin says. Payroll jumped 11 percent (about $9 million) with more than 400 jobs added, he notes.
Currently, the Nation employs just over 4,500 people across its various enterprises, he says, and that number will climb this year with new opportunities.
The Nation’s cannabis venture — which will range from growing to packaging to selling — is expected to come online this year and will contribute to new jobs, he notes. It is already contributing to vendor spending as construction of a grow facility is under way.
Vendor spending growth is also expected as the Nation undertakes what it calls the “evolution” of its Turning Stone Resort Casino.
The project, announced last September, will nearly double the size of conference and convention space; add a new 250-room hotel; and bring new dining options, outdoor space, and other amenities to the property. Working with Syracuse–based Hayner Hoyt as the general contractor, the Oneida Indian Nation expects to break ground on the project this year.
The demand is already there for conference and convention space, Barkin says. Existing space is already booked out, typically several years in advance, he notes, and demand is only growing.
“That’s going to allow us to attract a range of groups that make us a real player” in the convention/conference arena, he adds.
The Oneida Indian Nation, through its Oneida Nation Enterprises, operates Turning Stone Resort Casino, YBR Casino & Sports Book, Point Place Casino, The Lake House at Sylvan Beach, The Cove at Sylvan Beach, Maple Leaf Markets, SavOn Convenience stores, Salmon Acres and a hunting preserve, an RV park, two marinas, and several golf courses and facilities.