Strictly Business

From Business Today:

As we wrote in September, the prospect of HSBC Bank leaving the HSBC tower in downtown Buffalo would be a disaster for the anemic local commercial real estate market. Now the mayor and a downtown business group have expressed concerns over the threat. Dumping 653,000 square feet of Class A office space on a stagnant market is a recipe for trouble. It could take years for the city to absorb so much space. Adding to the controversy, HSBC is considering moving into a building in the city's Canal District that would be subsidized with lots of public money.

Ecology & Environment, the Lancaster-based environmental consulting business, had a strong quarter despite modest growth in revenues. The company, like most others, is doing more work in-house, cutting down on outside contractors, and generally tightening its belt.

A small group of hotel owners in Niagara Falls are planning to build or renovate several hotels in town. They appeared before the Niagara County Industrial Development Agency seeking tax breaks for their projects.

The former Motorola plant in Elma is getting a new lease on life. The owner of the Sonwil Distribution Center in Cheektowaga and a partner are buying the giant plant and converting it into a wholesale distribution center. 

Who is getting promoted, hired, or honored?

 
HSBC says the rent it is being asked to pay is too high. That's a familiar tune......