What does it mean to be home to a company's headquarters?
Buffalo Business First
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Any company with operations in Western New York knows the benefits of having a production facility here: job creation tax incentives, close proximity to Canada and New York City and access to Lake Erie and hydropower.
Yet when it comes to maintaining a corporate headquarters here, other factors often come into play.
“The economic activity that is generated by headquarters is way beyond just the employment and the wages that are paid,” said Douglas Dimitroff, a corporate law and real estate attorney with Phillips Lytle. “The checks are written most often where the headquarters are, so the corporate support of community amenities and organizations, nonprofits, parks and recreation and all that, typically happens to a greater degree where headquarters are located.”
So why do some companies stick around, and what's at stake when they don't?
Katie Anderson explores that question in this week's cover story.
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New to their roles
- Samantha Bonano has traded 'retirement' for a new job: leading West Seneca's Multisorb Technologies. | Read more
- As she retires as CEO of People Inc., Rhonda Frederick will take on a new role that keeps her connected to the nonprofit community: director of community giving and support with West Herr Automotive Group. | Read more
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Two Millionaire's Row mansions go up for sale
Three historic downtown Buffalo buildings — including two “Millionaire’s Row” mansions — are up for sale by the same owner for $7.6 million. | Read more
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Inno Madness heads into Round 2
The biggest upset in Round 1 of Inno Madness this year saw a newcomer to our bracket-style challenge giving the boot to a company that made it all the way to the final round last year. Vote by midnight Sunday on the companies that you'd back with your bucks. | Read more
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Paychex founder launches Rochester business school
During a time when many colleges are struggling with declining revenue and enrollment — which prompts mergers, acquisitions and closures — Tom Golisano, founder of Paychex and former owner of the Buffalo Sabres, is opening a business school: The Golisano Institute for Business & Entrepreneurship. | Read more
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New bakery for the Village of Ellicottville
The Village of Ellicottville will get a new bakery this summer courtesy of developer/attorney Corey Hogan and his wife, Jennifer. Plans call for offering housemade bread along with pastries such as scones, muffins or cinnamon buns as well as coffee drinks. | Read more
Plus, a new Amherst store will Paula's Donuts its largest location yet; a farm-to-table experience in Wilson makes a chef's dream come true; and a Bemus Point pizzeria ownership change keeps things in the family.
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This Weekly Edition was compiled by Sara Paulson Meehan. Questions? Comments? Concerns? Send them to smeehan@bizjournals.com.