Governor Andrew Cuomo; AP Photo
BUFFALO, NY - New York State Governor Andrew Cuomo was in Buffalo Tuesday morning to update local officials on his "Billion to Buffalo" economic development initiative.
Addressing the Western New York Regional Economic Development Council at the Buffalo Convention Center, Cuomo announced that $50 million in state money will be matched by a $200 million private investment to open a new pharmaceutical research and development operation in Buffalo's Medical Campus. Albany Molecular Research Inc. (AMRI) is expected to bring 250 new jobs to the medical corridor thanks to the public-private partnership.
The governor's office told 2 On Your Side's Scott Brown that New York State's portion will be used on new equipment and laboratory space, which will be owned by the state and not AMRI.
The governor also announced a deal to keep the Maid of the Mist operating on the American side of Niagara Falls.
Members of the Western New York Regional Economic Development Council spoke before Cuomo's announcement, emphasizing the theme laid out by Chairman Howard Zemsky's call to halt and reverse the exodus of young people out of the region.
Cuomo's Regional Economic Development Council Assessment Tour was scheduled to continue to Niagara Falls Tuesday afternoon.
Watch Cuomo's Announcement and the WNY Regional Council's plans for WNY.
Learn more about the Billion 2 Buffalo initiative.