M&T Bank unveiled a new multimillion-dollar tech hub in Buffalo, New York, on Wednesday, which it said will bring more than 1,000 jobs to the area.
The Buffalo-based bank said the new $58 million, 330,000-square-foot facility is "poised to become a driving force for the city’s growing tech ecosystem."
The building, Seneca One, has 13 floors allocated for technologists, bankers, customer experience engineers, data scientists and programmers to develop new products and services for customers.
Over the next three years, the company plans to hire more than 1,000 technologists in an effort to "develop, improve and deploy financial technology solutions."
As part of its efforts, the company has already hired 400 experienced technology professionals and more than 120 college graduates in STEM-related fields, according to M&T.
"This investment will help us attract talent – not only to M&T Bank, but to all companies – and to make our region a magnet for people who want to solve problems and develop solutions that make a difference in people’s lives," M&T Bank CEO René Jones said.
In building this new hub, M & T will "spark entrepreneurial activity that lifts our economy and grow an inclusive ecosystem that extends into our community and region," Jones added.
A multitude of startups and tech firms such as Odoo, Serendipity Labs, Lighthouse Technology Services, AML RightSource and 43North have already signed leases and moved into the newly refurbished spot.
M&T says it will adhere to its companywide return-to-offices plans "which is guided by a committee that has adopted agile principles and modern design techniques to ensure a safe and collaborative return."
When it's safe to do so, M&T will implement a phased strategy to bringing its workforce into the space.