There are four partner organizations identified by First Niagara Financial Group to administer $400,000 for start-up business and community redevelopment initiatives on or near the Buffalo Niagara Medical Campus. There is still another $100,000 available in funding.
The University at Buffalo Office of Economic Development, Buffalo Niagara Medical Campus Inc., Westminster Economic Development Initiative, and Buffalo Urban League will manage the disbursement of $100,000 apiece committed by the bank to support entrepreneurs who want to start up businesses on the medical campus or relocate existing businesses there as announced by the parent of First Niagara Bank N.A. on Wednesday.
Buffalo market executive at First Niagara, Buford Sears, said that the company is seeking other potential partners to handle the remaining $100,000 set aside by First Niagara for the medical campus.
Sears said during a news conference on Wednesday, “These are four very deserving local organizations that have a strong understanding of the needs of this community,” and added “These organizations are all working to create opportunities to rebuild this important part of Western New York.”
First Niagara has invested $4 million so far in the medical campus.
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