BUFFALO, N.Y. (WIVB) — Back in April, M&T Bank announced that it was planning to expand, with an additional 1,000 employees here in Buffalo.
On Thursday morning, M&T held a news conference at Seneca One Tower — the place that will serve as the company’s new tech hub.
As the meeting began, the construction and changes within the building could be observed.
According to the building’s owner, Doug Jemal, employees will begin moving in this winter. M&T says 1,000 employees will be working in the tower by next summer.
“Everybody kind of thought I was crazy,” said Jemal, the Washington DC developer who bought this building for $12 million when it was vacant three years ago, but now M&T Bank promises to fill the middle ten floors of this building with a thousand employees by early next year, and a total of 1,500 employees within a few years.
The bank did not ask for any taxpayer dollars, according to M&T Bank president and CEP Rene Jones. “We think this is our commitment. It’s our 1,000 jobs. It’s our money that’s being put into the infrastructure here, but we do hope that future investments will come from all sorts of folks.”
It will be the site of M&T’s new tech Hub where other companies will be welcome to set up shop in the hopes new ideas will collide. Imran Chowdry is one of the tech savvy employees that M&T just lured away from a company in Connecticut a few weeks ago. “I wasn’t looking for a job, but what they had to offer was something above and beyond a job. I was completely sold on the vision that M&T had which was not only to transform the company, but the whole community.”
Developer Doug Jemal started by making 120 apartments inside in the hopes of creating the perfect mix office of retail and residential.
“I am so fortunate to be part of this revitalization,” said Jemal. “Of everything that I’ve done in my life, 12 million square feet, 3,000 tenants, 2000 loans, this is the proudest moment that I could sit here because I really feel as if we together.. We’re all wearing these green M&T sneakers and what it signifies is we’re all working in sync, in lockstep to make this a great community.”
M&T will occupy floors 13 through 23.