Power Drives Inc. will be relocating its Falconer (Chautauqua County) operations to its new space in Larkinville in downtown Buffalo. The company, which designs and manufactures hose and tube assemblies for companies including Cummins Inc, needed more space to grow. Power Drives expects all 31 members of its management team and administrative staff to relocate and the company is offering transfer opportunities to about 60-75 percent of the 98 employees at its current plant, making the combined workforce total at the new space around 130. The company will start moving the headquarters and staff into the site in late fall or early winter. Those employees not offered a transfer will receive assistance in finding another job. New positions will become available at the new site as the company expands.
Two agencies serving adults and children in the region have merged, establishing one of the largest, community-based behavioral health agencies in the region. Child & Adolescent Treatment Services and Lake Shore Behavioral Health’s merger is set to take place by January 1st, contingent upon approvals from regulatory and legal authorities. The new organization will have more than 525 employees.
M&T Bank Corp. will lease about 25,000 square feet at AppleTree Business Park in Cheektowaga (Erie County) The bank will have new openings for 179 technology-related employees and will fill them with a mix of existing M&T workers and new hires starting in June. The bank now employs about 7,000 people in its nine-county Western New York region. The bank’s total head count in the region – in corporate offices and branches – has grown by 475 jobs since the start of 2015.
Midwestern sleep-prodcuts company Reverie has signed a lease for 10,000 square feet of space in the Larkin Center of Commerce where it will relocate office and wholesale sales staff from its manufacturing facility in Eden, bringing 40 jobs to “Larkinville”. The company will keep its production and distribution team in the Eden location. The company plans to continue hiring in sales, technology, operations, logistics, human resources and finance to keep up with their current growth trajectory.
Ivy Lea Construction is moving its headquarters from the Town of Tonawanda to North Tonawanda, building a new $1 million, 10,000-square-foot facility. The company currently employs about 40 and plans to add 10-15 new jobs.
Benderson Development Co. will receive more than $750,000 in tax breaks from the Erie County Industrial Development Agency to construct a new warehouse in Cheektowaga (Erie County). The single-story, 100,035-square-foot manufacturing, warehouse and distribution facility is being built to meet the growing demand for new industrial space in the market. The project is expected to create at least 35 new jobs.
Aeropostale, a clothing store, filed for Chapter 11 bankruptcy and will close 113 of the company’s 739 U.S. stores as the company reorganizes. Two Erie County stores will close, one in the Boulevard Mall in Amherst (Erie County) and one in the McKinley Mall in Hamburg (Erie County). Although no closing dates have been set yet, both stores will begin going-out-of business sales this weekend.
HSBC Bank USA is relocating around 40 jobs out of Buffalo (Erie County). The job cuts in information technology are part of the changes that the bank is making globally in the way they will deliver technology over the next two years. The job reductions are part of a plan that was outlined in October 2015. Although the 40 back-office jobs here are being eliminated, the bank will have a net gain of 150 jobs in the region over a two-year period, as it moved some jobs here from New York City. HSBC has about 3,000 employees in the Buffalo Niagara region.
Nothing to report.
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