Governor Andrew M. Cuomo, Erie County Executive Mark Poloncarz and City of Buffalo Mayor Byron Brown today announced that the Erie County Industrial Development Agency (ECIDA) and the Buffalo Urban Development Corporation (BUDC) will centralize their offices at the vacant space at 95 Perry Street in Buffalo, where Empire State Development's Western New York regional office is currently located. The move, reached after months of negotiations, allows the state, county and city to have all their economic development entities co-located in one building, achieving long-term savings for New York taxpayers and the "one stop shopping" goal that the community has supported for years.
The ECIDA board of directors voted in approval of this transaction today. The ESD and BUDC boards of directors will also need to approve the transaction prior to the actual lease signing. ECIDA and BUDC are expected to move to 95 Perry Street in summer 2013.
"Under this agreement, we are creating a one-stop-shop approach for growth and expansion resources for Western New York businesses and entrepreneurs by centralizing three economic development entities to work under one roof," said Governor Cuomo. "Not only will this approach benefit the business community and grow the local economy, but it will also help build dynamic partnerships and coordination among economic development professionals across the Greater Buffalo Niagara region."
"I want to thank the ECIDA board for their vote to streamline our approach to economic development, and for realizing the importance of having all these agencies under one roof," said Erie County Executive Mark Poloncarz. "This move creates a critical mass of economic development agencies and will give businesses access to a wide range of services, helping them to find what's available quickly without spending time and effort traveling from office to office. This "one stop shop' will be a tremendous asset in bringing business to Erie County, will make it easier to showcase our region to interested businesses looking to locate here, and will serve as a single destination for business assistance for companies already located in Erie County."
"With so many economic development projects moving forward in Buffalo and even more in the pipeline--combined with the growing interest in Buffalo as a great place to invest and do business--this is a great opportunity to further promote economic development opportunities in our city," said City of Buffalo Mayor Byron Brown. "I'd like to thank Governor Andrew Cuomo for adding another critical component to our city's economic development strategy that will help continue to grow our economy, create jobs and put people back to work."
ECIDA and BUDC are currently located at 143 Genesee Street in Buffalo. ECIDA and BUDC will sub-lease the space on the fourth floor, which is owned by Savarino Companies, and share boardroom space with ESD on the fifth floor.
ESD Regional President Sam Hoyt said, "Governor Cuomo has made an unprecedented commitment to the revitalization of the Western New York economy and we are beginning to see real momentum toward achieving that goal. As we continue to meet with businesses interested in locating in Western New York, it is critical that our recruitment efforts are coordinated and seamless. This new collaborative approach will do just that."
Empire State Development is New York's chief economic development agency and administrator of the statewide business resource portal New York First (www.NYfirst.NY.gov). The mission of Empire State Development is to promote business investment and growth that leads to job creation and prosperous communities across New York State. ESD also oversees the marketing of "I LOVE NY," the State's iconic tourism brand. For more information on Empire State Development, visit www.esd.ny.gov.