Real Estate May 2, 2011 10:50 AM

First Niagara to Detail 500 Job Expansion

WCPerspective 28

First Niagara will be joined with members of the public sector to provide more details about its plans to create 500 new jobs over the next five years as it continues to pursue its growth strategy. The new jobs are expected to primarily be located in the Larkin District where the company relocated its headquarters in 2009. A press conference is scheduled for 2 PM in the lobby of the Larkin at Exchange Building, 726 Exchange Street.

Today's announcement demonstrates the positive benefits of strong corporate partners working collaboratively with the public sector to create real economic stimulus.

First Niagara has been a leader in driving economic change and will continue its commitment to improve and empower the communities where it does business, specifically, in Upstate and Western New York.

First Niagara Financial Group, Inc., through its wholly owned subsidiary, First Niagara Bank, N.A., has $21 billion in assets, $13 billion in deposits and 257 branches.

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Comments

28 Comments Leave a comment

Urban Cowboy

May 2, 2011 9:56 AM

Good news... The Larkin district might be the fastest growing neighborhood by the 2020 census.

Now, can an someone send an email to the NFTA urging them to consider extending the metro rail one more stop?

[ Reply ]

Score: 8 ( 12 votes )

STEEL

May 2, 2011 10:04 AM

Extending metro rail to here is a major no brainer.

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Score: 2 ( 14 votes )

Urban Cowboy

May 2, 2011 10:38 AM

There were a lot of no-brainers in bflo's history that never got done.

[ Reply ]

replied to STEEL

Score: 7 ( 9 votes )

townline

May 2, 2011 1:29 PM

Not so sure about that one. The Larkin district to downtown isn't exactly a major commuter route that would support light rail. You need to use light rail to connect major, dense population centers to major centers of employment. Not employment center to employment center. How many employees of the Larkin district would actually need to travel between there and downtown on a daily basis? 1%? probably less?

UB needs to be the priority for light rail expansion, without a doubt.

[ Reply ]

replied to STEEL

Score: 5 ( 9 votes )

Greg

May 2, 2011 2:26 PM

The only way that would be extended would be by making a large scale extension. Extending it one stop won't make up for it financially. Don't get me wrong, I want it, but it doesn't sound fiscally sound.

[ Reply ]

replied to STEEL

Score: 2 ( 4 votes )

Urban Cowboy

May 2, 2011 2:59 PM

Through Larkin to South Buffalo/West Seneca sounds like a pretty good route for me.

[ Reply ]

replied to Greg

Score: 0 ( 6 votes )

al labruna

May 2, 2011 5:13 PM

it may or may not.

if there is no need to purchase additional LRVs, it may not actually have too much of a cost implication beyond the initial infrastructure. It may actually be less expensive than a larger expansion.

Only a ridership study can really evaluate whether its a feasible undertaking.

[ Reply ]

replied to Greg

Score: 2 ( 4 votes )

longgone

May 3, 2011 11:28 AM

Why do a ridership study? It does not move any people and just wastes money IMO. Stop doing studies. Lighter. Faster. Cheaper.

Get 3 to 4 shuttle busses or trolleys and run them in a loop for 1 year. Report how ridership ACTUALLY went rather than what ridership would be PROJECTED. On top of having great data...you moved a bunch of people from point A to point B.

Don't get me wrong...I love light rail and wish there was an infinite amt of resources to build it out. But, again IMO, the only way to secure those resources is to prove that people will use mass transit if it's reliable and easy.

Heck, why not bypass the COB and ask First Niagara to sponsor the loop for the year? I know Qualcomm did something similar for their campus to connect it to the Coaster train in San Diego. Once they showed that traffic was reduced and had a solid use, the shuttle was funded by the transit group.

[ Reply ]

replied to al labruna

Score: 1 ( 1 votes )

al labruna

May 3, 2011 12:25 PM

I would do a ridership study for any new service, including buses. You cant just grab some transit equipment and drive around. There are important steps that need to be taken to avoid mis-allocations of time and resources.

Without some basic information, you wouldnt know what vehicles to select for the passenger load; you couldnt determine appropriate frequency; select a route for convenience of riders and minimizing delays; et al.

Buses arent cheap (half a mill for a hybrid). Drivers have costs. Websites need updating. Schedules need to be printed. Bus shelters and signs need to be posted.

It always makes sense to plan. Always.

[ Reply ]

replied to longgone

Score: 0 ( 0 votes )

longgone

May 3, 2011 12:47 PM

Al - I get having a plan. But the problem that WNY has is it gets stuck in planning.

So you start your plan...to do a trial run for the shuttle. Everyone wants a voice. You do pricing for bus purchases/rentals and find that there are transportation companies that have older coaches that are underused. However, the Buffalo Citizens Action Group For Green Transportation is created and demands that hybrids are used. Even though it's a trial. Now you are stuck with a funding issue to secure government grants for green transportation.

Then you say...the shuttle would be most productive if it had two stops. One near main for the metro and the second near First Niagara. All of a sudden, the Greater Buffalo Bus Transportation Committee is created and they want 6 stops between the on the 3mile loop so that residents can save the 10 minutes to walk downtown. But now you have a loop that takes 20 minutes to complete when driving your car from N. Buffalo take 17.

After you get those items figured out...the hybrid busses do not have the room to accept bikes. So the leader of the Buffalo Citizens Action Group For Green Transportation tells his friend, who likes to ride his bike, that he should create the WNY organization for bike accessible shuttle bus loops. Now in asking for this, the cost doubles, the time between stops triples so that people can load up bikes and you still have the guy in N. Buffalo with a 17m commute trying to figure out why he would want to spend 30 minutes to get from Main St to FN hq.

Anyways, why cant First Niagara just ask an employee to call a couple of transportation companies..see if they can run some shuttles to and from Main for the summer and track how many people use it?

Faster. Lighter. Cheaper.

[ Reply ]

replied to al labruna

Score: 3 ( 3 votes )

al labruna

May 3, 2011 1:37 PM

I appreciate the enthusiasm. I do. Hell, I empathize. I know how things often go down here. But to reject a planning study for fear of input is almost authority-esque.

In any case, planning is the only way to provide an appropriate level of service. Whether it was public or private, no entity would potentially waste tens of thousands or even millions of dollars on unjustified unprioritized expenditures.

Without a study, you could only guess how many buses you need. No business would subsidize that.

As the saying goes: Those who fail to plan, plan to fail.

[ Reply ]

replied to longgone

Score: 2 ( 2 votes )

Urban Cowboy

May 3, 2011 5:53 PM

Great post.

[ Reply ]

replied to longgone

Score: -1 ( 1 votes )

Travelrrr

May 2, 2011 10:08 AM

Is now the right time to suggest a painstaking rebuilding of the Administration building? Maybe with a modern twist?

[ Reply ]

Score: -7 ( 19 votes )

BurchJP

May 2, 2011 11:02 AM

Lost cause man, recreating the Larkin Admin building would be way to expensive. Just the simeple upkeep was so expensive that it had to be demo'd in 50.

[ Reply ]

replied to Travelrrr

Score: 0 ( 6 votes )

Captain Picard

May 2, 2011 11:26 AM

At least that's what the folks who demolished it would have you believe.

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replied to BurchJP

Score: 0 ( 10 votes )

derby98

May 2, 2011 1:58 PM

True... but if new space needed to be built a modern building infrastructure with the Larkin replicated exterior would be much cheaper. Sure it would be a fake but it will give people a 3 dimensional view of what Wright originally built here and add to the Buffalo-Wright tourism.

[ Reply ]

replied to BurchJP

Score: -1 ( 5 votes )

SadLlama

May 2, 2011 10:24 AM

No mention that they'll be receiving 5.7 million in tax credits? Apparently free money is OK only when the business is headquartered in Buffalo. Where are the "no more corporate welfare!" folks now?

BTW I completely support giving FN these tax breaks as long as the average salary per worker IN BUFFALO is 78k (the amount the governor is touting).

[ Reply ]

Score: 5 ( 13 votes )

Chris

May 2, 2011 10:30 AM

Agreed.

This sort of hiring spree will bring in some new blood to WNY and bring home some expats with financial service back grounds.

[ Reply ]

replied to SadLlama

Score: 2 ( 6 votes )

Urban Cowboy

May 2, 2011 10:43 AM

Yep. We need all the help we can get. Plus the governor saw the last census. He knows he needs to share some of his downstate love here.

500 80k jobs could mean 500 families move/stay here and maybe another 300-500 spinoff jobs. Now we just need the 500 jobs from canalside, HSBC to move to the webster block and bring 500 more jobs dt, and dare I say a dt casino with 800 jobs opening?

[ Reply ]

replied to SadLlama

Score: 2 ( 8 votes )

BurchJP

May 2, 2011 11:04 AM

HSBC's move to the Webster Block would be huge (Buffalo HUUUUUUGE)!

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replied to Urban Cowboy

Score: 3 ( 7 votes )

ForestBird

May 4, 2011 1:19 AM

Average bank salary of $78K? Who believes that? Try $20-24K, maybe. Still, $10million annual pay is probably worth the $5million tax break. But don't get all excited about this 'neighborhood' or trolley extensions - nobody working at this place will want to live in that area.

[ Reply ]

replied to SadLlama

Score: 1 ( 1 votes )

hamp

May 2, 2011 11:05 AM

How about starting with a nice plaque or marker designating the site of the Larkin Administration Building?

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Score: 3 ( 9 votes )

BurchJP

May 2, 2011 11:18 AM

That would be okay and a good first step. But a sign stretching over the main access roads in Larkin Area, stating "Larkin District" would be a much cooler touch. It would make you feel like you were entering your own little destination.

[ Reply ]

replied to hamp

Score: -2 ( 8 votes )

grad94

May 2, 2011 1:58 PM

there already is one. scroll to the bottom for pictures.

http://www.buffaloah.com/h/larkin/admin/index.html

[ Reply ]

replied to hamp

Score: 0 ( 2 votes )

rubagreta

May 2, 2011 11:54 AM

Congratulation to FN for not getting involved in the subprime liar lone nonsense. The CEO should get a medal.

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Score: 0 ( 4 votes )

Chris

May 2, 2011 12:16 PM

They're a regional bank that didn't service people from the areas of the country that had growth. I'm sure that their good coporate citizenry had some to do with it, but upstate new york and western PA didn't experience the boom so there was no bust...

To Urban's point: An economy that is diversified between Medical, Financial, Manufacturing, and Service is a ok with me. You paint a very nice picture!

First Niagara and others are going to have to start pouring money into the business schools so that they can ensure a steady crop of local talent.

[ Reply ]

replied to rubagreta

Score: 1 ( 3 votes )

rubagreta

May 2, 2011 1:17 PM

Have to disagree. Places like Cleveland and Kansas City were up to their armpits in subprime loans. Those were not exactly boom towns.

[ Reply ]

replied to Chris

Score: 5 ( 5 votes )