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Anchoring Excellence: Citi Invests Over $59M in New Amherst Facility

Transforming a Vacant Lot into a Strategic Operations Hub

Citi, a global leader in financial services, has made a significant long-term commitment to Amherst by developing a new state-of-the-art facility at 580 CrossPoint Parkway. With an investment exceeding $59 million, the company constructed a 156,000-square-foot building and outfitted it with advanced furniture, fixtures, and equipment to support over 1,500 employees in a high-performance environment.

Purpose Behind the Investment

To remain competitive within its global network, Citi needed to modernize its regional operations. Nearly 99 percent of the revenue generated at this location originates from outside Erie County, making this project a key economic export engine for the area. The project aims to:

  • Ensures Citi retains its current workforce in Western New York.
  • Positions the Amherst site for future internal growth and expansion.
  • Delivers the infrastructure necessary to compete with other Citi locations globally.
  • Repurposes unused land into a high-value employment and economic center.

Long-Term Benefits for Amherst and Beyond

Citi’s investment brings major fiscal and workforce advantages to the region:

  • Workforce Impact: Supports more than 1,500 jobs across multiple departments, reinforcing Amherst’s reputation as a talent hub for financial and business services
  • Tax Contributions and Savings:
  • $6,114,576 in PILOT (Payment in Lieu of Taxes) contributions: $2,161,890 to the Town of      Amherst, $813,456 to Erie County, and $3,139,230 to the Williamsville Central School       District.
  • $2,684,535 in estimated sales tax savings over 10 years, plus $1,024,406 in additional sales   tax savings.
  •  $6,767,994 in property tax savings.
  •   $260,000 in mortgage recording tax savings.
  • Land Utilization: Transforms a parcel that previously generated only $4,104 annually in total taxes into a productive business asset and job center.

Public Support and Strategic Alignment

The support of the Amherst Industrial Development Agency (AIDA) played a vital role in bringing the project to life. The Agency’s assistance helped Citi meet its infrastructure needs while delivering measurable value to the community through jobs, tax revenue, and long-term economic activity.


From Idle Land to Economic Engine
What was once a vacant lot is now a thriving financial operations center, supporting thousands of jobs and driving revenue from across the globe into Western New York. This strategic investment not only cements Citi’s presence in Amherst but also showcases how public-private partnerships can unlock transformative results.


As Citi continues to build the future of finance, Amherst will remain an essential part of that journey.

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