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Western New York, December 2002

Business Expansions

New this Month

UPDATE: M&T Bank (Erie County) Shareholders of Allied Irish Banks (AIB) approved plans to merge the bank’s U.S. subsidiary, Allfirst Financial, with Buffalo-based M&T Bank. M&T shareholders recently approved the transaction, but the deal is still awaiting bank regulators approval in both the U.S. and Ireland.

Wal-Mart plans to begin construction early next year on its supercenter in Niagara Falls (Niagara County). When the store opens at the end of next year, it will be the chain’s second supercenter in Western New York employing 450 workers.

The area’s newest Home Depot store recently opened for business in the city of Olean (Cattaraugus County). The 95,000-square-foot store employs 130 and is the 10th Home Depot in Western New York.

UPDATE: Casinos (Niagara County) On November 29, the U.S. Department of the Interior approved the land transfer that will allow the Seneca Nation of Indians to open a casino in Niagara Falls by the end of the year. The casino, which is set for a New Year’s Eve opening, will create 2,000 permanent jobs along with 1,400 jobs during construction.

University at Buffalo’s Center for Excellence in Bioinformatics (Erie County) The 400,000-square-foot life sciences complex expected to someday employ hundreds of researchers and staff in the Buffalo Niagara Medical Campus got a major lift from the private sector with a $4.5 million grant from the Margaret L. Wendt Foundation. The foundation will give three-year $1.5 million grants to each of Hauptman-Woodward Medical Research Institute, Roswell Park Cancer Institute and the University at Buffalo. Part of the money will be used to build a bridge to connect the three institutions.

Business Contractions

New this Month

Verizon Communications (Erie County) has laid off 180 workers throughout Western New York, most of them repair and maintenance staff.

Trico will close the last of its Buffalo (Erie County) operations and will eliminate 212 jobs. The shutdown will be completed in about 12 to 15 months. The first of the layoffs will occur in spring. A portion of the plant’s work will be shifted to a Trico plant in Texas, along the Mexican border.

HSBC Bank USA (Erie County) is laying off 80 employees, including 40 in the Buffalo area. This is HSBC’s first widespread reduction-in-force in the Buffalo market in years. The bank has been eliminating positions here all year through attrition. The affected employees will receive their year-end performance bonuses and severance packages.

Labor Disputes

New this Month

Nothing to report.

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