Citigroup to expand at CrossPoint

Gov. Eliot Spitzer announced an Empire State Development Corp. incentive package last week that will add as many as 700 new jobs at a new Citigroup (Citi) facility in Amherst. It was Spitzer's first visit to Amherst since being elected governor in November. Photo by Joe Eberle Purchase photos at www.BeeNews.com

The Empire State Development Corp. announced Feb. 21 that a leading financial services firm has committed to creating as many as 700 new jobs in Amherst.

Citigroup was joined at the announcement by Gov. Eliot Spitzer; Daniel Gundersen, Upstate Empire State Development Corporation chair; and Kenneth Schoetz, Upstate chief operating officer.

Citi will expand its operations by constructing a 150,000-square-foot office building adjacent to its new facilities in CrossPoint Business Park.

CrossPoint Parkway is off North French Road just west of Millersport Highway.

"Investments like Citi's speaks to the strengthening economic conditions in Western New York," said Spitzer. "Not only are they staying in New York, but they are building their operations because they recognize the value of our highly skilled workforce."

In committing to the new job development, Citi accepted a $1.75 million economic development package from ESDC from its Jobs NOW program. Specifically, Citi will receive $1.5 million for the construction of the new facility and the creation of 500 jobs and will be eligible for an additional $250,000 if it adds another 150 jobs by January 2012.

Citi's Markets and Banking Division will add a variety of new jobs in Amherst, including positions in finance, capital markets and banking operations, risk and compliance and global transaction services. The positions will range from entry-level to senior management.