M&T Bank has signed a letter of intent to purchase a building in Amherst, N.Y. that was formerly operated as a data center by HSBC. The $68 billion-assets bank, which is based in Buffalo, N.Y., plans to convert the 59,280 square foot building into its primary data center, then retrofit its current data center in Amherst into additional office space. M&T said it will invest more than $105 million to improve and equip the two buildings over the next 10 years if the purchase goes through.
M&T also plans to locate approximately 75 new jobs and retain 45 existing jobs in Amherst as a direct result of this investment. Some of those jobs will be at the new data center, while others will be at the former location.
M&T Bank already employs 1,314 people at two major operations centers and nine branch locations in Amherst. Across Western New York, M&T has approximately 5,000 employees, operates 84 branch office locations and owns and/or occupies nearly two million square feet of commercial real estate.
The purchase is subject to additional due diligence and certain approvals from the Amherst Industrial Development Agency.
