BUFFALO, N.Y. -- New York State Governor Andrew Cuomo announced the creation of a high tech jobs center at RiverBend in South Buffalo on Thursday. The deal calls for two companies to move to the RiverBend site in south Buffalo. 850 jobs will be created.
The announcement was made Thursday morning at the Adam's Mark hotel in Buffalo. The deal was first reported by Investigative Post and 2 On Your Side on Wednesday evening.
"We said, boy if we could ever get this done it would be a game changer for Buffalo and Western New York," Governor Cuomo told the crowd at the Adam's Mark on Thursday.
Construction to build offices and manufacturing facilities will begin this coming year, with the two companies opening for business in 2015.
They are projected to hire about 850 employees during their first phase of operation and another 1,000 or so after that. Jobs in the clean tech sector tend to be good paying, although we have no hard numbers for the Buffalo project.
New York State is promising to invest $225 million into the project in order to bring the companies to Buffalo. That would make it one of the largest, if not the largest investment the state has made locally to promote economic development. to hire about 850 employees during their first phase of operation and another 1,000 or so after that. Jobs in the clean tech sector tend to be good paying, although we have no hard numbers for the Buffalo project.
Rather than providing the companies direct subsidies, as has been the norm in the past, all of the state funds will be invested to build and equip facilities that the state will own and lease to the firms.
The plan is to use these two companies as anchor tenants that will in turn attract other companies in the same line of work. The idea is to build a critical mass. This is the model the state has used to develop a nanotech sector in the Albany area.