M&T Bank’s $3.1 billion deal to buy Allfirst Financial of Baltimore will make Buffalo (Erie County) the headquarters of the 18th largest U.S. bank. The deal is expected to create dozens of jobs in the area.
UPDATE: Casinos A three-day job fair for members of the Seneca Nation and other applicants wishing to work at the planned gambling casino in Niagara Falls (Niagara County) was held on October 11-13. An estimated 1,500 people attended. The Seneca Niagara Falls Gaming Corp. Employment Center was also opened to process applications from prospective employees and will serve as a training center for the casino workers. Applicants were lured by the idea of $28,000 to $32,000 average salaries and more than 2,000 jobs by the time the casino opens New Year’s Eve.
Cummins Inc. plans to add about 250 jobs at its engine plant in Jamestown (Chautauqua County) by the end of January 2003—and as many as 500 over the next three years—after consolidating all of its heavy-duty engine assembly and testing work to the Southern Tier. The announcement of the $9 million project will increase the plant’s work force from 750 to around 1,000.
UPDATE: West Valley Demonstration Project (Cattaraugus County) has received a contract extension worth $230 million to continue its cleanup of the West Valley Demonstration Project which will secure 500 jobs over the next 27 months.
Veridian will expand into Niagara County with a $7 million research hangar at the Niagara Falls International Airport. The Niagara Falls hangar will employ about 40 research and development personnel who currently work at Veridian’s complex at the Buffalo Niagara International Airport. No new jobs will be created initially, but the Niagara Falls division will need high-paying engineers and researchers as it progresses. Construction will begin in December and be completed by fall 2003.
Jubilee will close its Hamburg (Erie County) store before the end of October, affecting 100 workers. Many of the affected workers will be offered jobs in Kenmore, Orchard Park, and Batavia.
Buffalo Color Corp. (Erie County) a longtime maker of dye used in blue jeans has filed for Chapter 11 bankruptcy protection. The chemical company employs 100 people, and plans to continue operating its business as usual.
Verizon (Erie County) plans to reduce its work force by at least 250 jobs in the Buffalo area through voluntary separation by offering incentives for early retirement or severance pay.
Columbus McKinnon Corp. (Erie County) plans to close at least four more facilities. The announcement of which facilities will be closed will be made in November. The company employs about 120 people locally.
Nothing to report.
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