Western New York Impact Investment Fund invests $750,000 in Buffalo FilmWorks

BUFFALO, N.Y. – The Western New York Impact Investment Fund announced today that the Fund has made an investment of $750,000 in Buffalo FilmWorks, a full-service film and major motion picture complex located in Buffalo, NY. Buffalo FilmWorks seeks to finalize renovations to its 828-foot-long Stage 4, which will make it one of the largest soundstages in North America and the world. The Fund’s equity investment is part of Buffalo FilmWorks’ recent round of financing.

“The Western New York Impact Investment Fund is pleased to announce its partnership with Buffalo FilmWorks, a company that is bringing the global major motion film industry to Western New York,” said Thomas P. Quinn, Chief Executive Officer, Western New York Impact Investment Fund. “This exciting endeavor is revitalizing Buffalo’s East Side Seneca-Babcock neighborhood through adaptive reuse of Buffalo Rail & Foundry’s former manufacturing buildings which will provide employment and economic opportunities,” he added.

Established in 2018, Buffalo FilmWorks’ three co-owners Kevin Callahan, Jennifer O’Neill and George Pittas purchased the former abandoned warehouse space in 2016. After renting the space to store movie props, the idea to build soundstages was born. Today, Buffalo FilmWorks provides full concierge service for production, personnel, cast and crew. Services include sound stage, prop and equipment rentals, transportation services, living accommodations, dressing rooms, office space, conference rooms, catering, and personal assistants.

“Buffalo FilmWorks seeks to support economic and infrastructure development for the motion picture industry through hands-on instruction and training, inclusive economic growth and the revitalization of an underserved community,” said Jennifer O’Neill, Co-Founder and President, Buffalo FilmWorks. “We are very excited to partner with the WNY Impact Investment Fund in this effort and look forward to growing the developing film industry in Buffalo and creating countless jobs for Western New York,” she added.

To date, Paramount Pictures’ “A Quiet Place Part II” and “Nightmare Alley” from Fox Searchlight Pictures mark the biggest productions at the Seneca-Babcock film complex. With the completion of Stage 4, Buffalo FilmWorks’ total square footage will reach 119,800, meaning major film or television productions could use soundstages simultaneously at one of the largest full-service film and major motion picture complexes in the world.

The Western New York Impact Investment Fund’s investment in Buffalo FilmWorks marks the Fund’s first investment since successfully closing its Series 2 round of funding. In May, the Fund announced it had secured $11.55 million from a diverse group of new and returning corporate, non-profit, and private national and regional investors.

Since its launch in 2017, the Fund has deployed more than $7.5 million to regional organizations with strong market potential and positive social impact that are uniquely positioned to build upon the economic resurgence currently taking place in Western New York. Its new round of funding will continue the sea change in Western New York of investing for good and continue to propel the ongoing renaissance.