Buffalo Mayor Byron Brown delivered his sixth State of the City address this week and highlighted a number of economic development and investment initiatives that reaffirm that the city is well positioned for greater job growth and economic revitalization in the future.  Among the investments the mayor cited are a $15 million federal grant for the redevelopment of vital stretches of Main Street and $12 million dedicated to the Buffalo Building Re-use Project.  The Mayor also committed $1 million to the continued development of Canalside and the Central Wharf, destinations that attracted more than 400,000 visitors to our waterfront last year. 

The city's fiscal health also sends a strong positive message to the business and economic development communities.  Mayor Brown confirmed he is fulfilling year two of his three year pledge not to raise property taxes in the city.  The fifteen percent reduction in taxes since 2006 has resulted in Buffalo's lowest tax rate in 20 years and an A+ credit rating for the last two years.  These are all positive signs for a city and region poised to seize the opportunities being presented by Governor Cuomo's commitment to Western New York.  Click here to see the full text of the speech, and congratulations to Mayor Brown.

BNE founding investor M&T Bank is growing their already substantial footprint in the region through expansions of office space in the Town of Amherst and the City of Buffalo.  The bank made public this week the leasing of 21,000 square feet on John Glenn Drive in the Audubon Industrial Park to accommodate its mortgage servicing division.  In downtown Buffalo, M&T added an additional 12,000 square feet at 285 Delaware Avenue.  The bank is the anchor tenant at the building constructed by another BNE founding investor, Uniland Development Company.

M&T's recent expansion speaks to the overall strength and potential of the financial services sub-sector of the advanced business services industry cluster in our region.  In addition to the square footage and financial investment, M&T will be adding 100 new jobs at their new Amherst location, adding significantly to the overall economic impact of their expansion.  Congratulations to M&T Bank Buffalo Division President Jeff Wellington who represents the bank on BNE's Steering Committee and Board of Directors.   

Thomas A. Kucharski

President & CEO

takucharski@buffaloniagara.org

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