Blue Bridge Financial, a national provider of equipment financing, will establish its headquarters in the historic Electric Tower in Buffalo, New York’s central business district.
After an extensive search including suburban and city locations, both in and out of the state, New York State’s incentive proposal made the company’s move into an initial space of 5,500 square feet in the iconic Electric Tower possible, The Governor’s Office said.
“We are excited to announce the relocation of our corporate headquarters to the historic Electric Tower Building in the Buffalo business corridor,” said Blue Bridge Financial CEO Mark DeBacker. “This move has been made possible by the generous support of Empire State Development which shares our vision of significant high quality job growth as Blue Bridge Financial continues its rapid expansion within the specialty finance industry. I am excited about our company being a part of the exciting economic revival which is occurring in downtown Buffalo and the contribution of our company to further regional growth within the financial services industry.”
“Blue Bridge Financial’s decision to expand their operations in Buffalo after considering out of state alternatives is a testament to the advantages that Western New York offers to growing businesses,” Governor Andrew Cuomo said. “From the region’s highly-qualified workforce to its competitively priced office space, Western New York is a tremendous place for companies that are looking to increase their output and pursue new opportunities. I am pleased that the State was able to play a role in convincing Blue Bridge Financial to take a second look at Buffalo, and look forward to the company’s continued growth in the region.”
The company qualified for up to $586,173 in performance-based Excelsior Jobs Program tax credits from Empire State Development, the state’s economic development agency, in return for its proposed investment and job creation commitments. Significant contributors to the incentive package and the relocation included the Buffalo Niagara Enterprise and the CBRE|Buffalo Office brokerage team.
Blue Bridge Financial President Brian Gallo said, “The high quality Class A office space of the historic Electric Tower, combined with the job growth incentives provided by New York State, uniquely position us for continued significant growth and expansion of our product offerings into complementary financial service products. We intend to aggressively recruit business development, credit and other financial service professionals immediately to add to our team.”
Buffalo Niagara Enterprise President/CEO Thomas Kucharski said, “Advanced business services has always been a strong industry cluster in Buffalo Niagara, primarily due to our quality and affordable space and highly skilled and productive workforce. Blue Bridge’s significant job creation in the financial services sector will have a meaningful impact on our region’s economy for many years to come.”
City of Buffalo Mayor Byron W. Brown said, “We are delighted that Blue Bridge Financial chose to establish its national headquarters in the historic Electric Tower in Buffalo, retaining 12 jobs and creating over 70 new jobs over the next few years. Increasingly, companies from around the country are choosing to start, stay and grow in Buffalo as we offer a very competitive business climate and vibrant quality of life.”