BUFFALO, NY-- HSBC announced $35 million in capital investments to its downtown Atrium and facilities in Depew.
This new investment means that more than 3,000 jobs will stay in Western New York. "This is one of the most significant capital investments that HSBC has ever made in the United States," said Greg Zeeman, senior executive vice president and chief operating officer of HSBC USA.
HSBC's lease inside the tower, downtown's tallest building, ends in mid-October. The bank will exit and not have any workers inside the tower that still bears the bank's logo. "Terrific building for us over many, many years, served its purpose well, but all things come to an end at one point or another," said Kevin Quinn, HSBC Managing Director.
New York State Senator, Tim Kennedy, who has been pushing for HSBC to keep local jobs here, says he is very pleased with their decision.
"I am thrilled they have renewed their commitment with this $35 million investment in downtown Buffalo and Depew. It's one of the most substantial capital investments the institution has ever made in the United States," Kennedy said.
HSBC said the project is already under way and is expected to be completed within the next two years. The work includes new carpeting, ceilings, furniture, and changes to its work areas.