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Buffalo Business Report - Thursday, February 27th 2014

The ECIDA has approved sales taxes incentives, and other breaks, for the developers of the former F.N. Burt Co. warehouse on Seneca Street and the Elm Street property known as the site of the former Spaghetti Warehouse.

Best Buy will lay off up to 2,000 managers after a disappointing holiday season.  The New York Post reports 500 field managers were notified of the cuts sometime last week.  Store-level managers are expected to get the news by next week. Affected workers are mostly managers who oversee product categories at up to a dozen stores each.

The Federal Deposit Insurance Corporation’s fourth-quarter state banking profile shows that loans and leases at New York state commercial banks totaled $258.6 billion for the quarter ending December 31st.  According to Business First, that’s an increase of 13.4 percent compared to the same quarter in 2012.

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