Posted: Monday, 24 May 2010 4:20PM
Some Good And Some Iffy News For Buffalo Businesses
Barbara Burns Reporting
Buffalo, N.Y. (WBEN) There is some good and some potentially bad news for business in the city of Buffalo and Mayor Brown is hoping for the best all around.
The good news involves Honeywell on Peabody St. near downtown. The specialty materials provider has received a 27-million dollar grant from the Energy Department to develop a critical component of lithium ion batteries. Honeywell will become the first U-S manufacturer to do so.
Jay Kelly, Honeywell's Buffalo Site Leader, says "we will be adding six new jobs to help us run our sample plant and there will also be approximately 15 engineering and construction jobs related to the building of the sample plant. Honeywell will build a sample plant to produce and test the new battery.
Mayor Brown is thrilled with the Honeywell news but also keeping a close eye on things at HSBC. The bank is mulling the idea of moving out of downtown Buffalo when its lease expires in a couple of years.
Brown is concerned but hoping for the best. "I think it would be a very huge hit to this community to lose them, I don't think that's what they're talking about, I think they want to look at affordability and look at other options. I think it makes sense from a corporate perspective for them to do that but the city of Buffalo is very competitive."
HSBC's lease expires in 2013.
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