Downtown Buffalo's growing tech hub has landed a new tenant. M&T Bank recently announced plans to create 1,000 new technology jobs at Seneca One, the region's tallest building. Now, 43North is following the bank's lead.
Workers are still busy transforming Seneca One into a mixed-use complex with offices, retail, housing, restaurants and other amenities. 43North President Alex Gress says he is excited about the organization's upcoming move.
"There's power in density and I think that's what we're excited to be a part of," Gress said.
Each year, 43North invests $5 million in its business plan competition to attract high-growth startups to Buffalo. Gress says the move from their current location, on the Medical Campus, will allow 43North, Z-80 Labs, Techstars Buffalo and several startups to consolidate operations.
"Right now we're operating with just north of 200 people just literally in the 43North incubator space right now. And that's a number that's growing every day. 43North companies have been responsible for about 530 new jobs created in Western New York in just the last few years across all our portfolio companies," he said.
43North will welcome eight more companies into the fold in January. Gress says the new tech hub will serve as a recruiting tool.
"As you are attracting and retaining top tech talent from across the country, and bringing them here to Buffalo, to have a vibrant dynamic space that underscores the whole concept of live, work and play, is important. I think that's what you're seeing here."
Gress says a moving date will be announced in the near future.