BUFFALO, N.Y. (WKBW) — Billionaire philanthropist Tom Golisano's $10 million purchase of the former Buffalo News building will bring new life to Downtown Buffalo as the Golisano Institute for Business and Entrepreneurship announced plans for a campus center Thursday.
The institute, which opened in Rochester in 2023, will expand to Buffalo with an accelerated two-year business program housed in the former newspaper building. The school plans to welcome 75 students of all ages and 15 faculty and staff members in fall 2026.
"We teach business, we practice business, and we do it over and over and over and over again until they are ready to be a professional employee," said Ian Mortimer, President of the Golisano Institute for Business and Entrepreneurship.
WATCH: Golisano Institute to transform former Buffalo News building into Downtown Campus Center
Golisano himself was not able to attend the event, but the announcement drew business and education leaders who praised Golisano's vision.
Buffalo Bills and Buffalo Sabres owner Terry Pegula announced he will endow 10 scholarships for the institute.
"I think our country needs more people like the people that this institute will be preparing," Pegula said.
Bill Gisel, executive vice chairman of Rich Product Corporation, said the institute will build the next generation of business leaders.
"It's geared to build that next generation of business and community leaders and business creators," Gisel said. "The entrepreneurial part of this thing is also beyond anything I've seen in education to date."
Local businesses are welcoming the news after experiencing a decline when The Buffalo News moved operations in late 2022.
Amanda Moslow, front of house manager at Pizza Plant Italian Pub at Canalside, said the lunchtime crowd has been light since the newspaper left.
"We definitely saw a decline in business," Moslow said. "We'd love to see more people over there and have more people for business and lunch."
The institute offers two-year certificates in Business and Entrepreneurship, and a one-year certificate in AI and Business. Tuition is set at $8,900 and includes multiple internships and business experience for students.
Current student Max Post said the program provides unique networking opportunities.
"It will grow your network, it will grow your capacity to operate in the business world like nothing else," Post said.
Fellow student Giang Nguyen praised Golisano's commitment to the vision.
"You can see how much Tom cares deeply about this vision, and it's here," Nguyen said.
The institute plans to partner with 43North and Say Yes Buffalo.
While converting the former news building into a campus is expected to take months, enrollment for Fall 2026 is now open.
