Tom Golisano Buys Buffalo News Building, Opening New Institute

🔵Billionaire Tom Golisano has purchased the former Buffalo News Building in Downtown Buffalo.

🔵He will open The Golisano Institute for Business and Entrepreneurship.

🔵It will open next fall, 2026.

The former Buffalo News building is going from reporting the news to building futures. Tom Golisano, a billionaire from Rochester, NY and former owner of the Buffalo Sabres, has purchased the building and will open The Golisano Institute for Business and Entrepreneurship in Buffalo. This is the second school he will open in Western New York, with the other being in Rochester.

The goal of the school is to help build the next generation of entrepreneurs. That's something that is close to Goliaso, who made his billions founding the company Paychex. The school will award professional certificates to attendees who graduate from the 24-month program in not only entrepreneurship, but also business. These will translate similarly to a college degree and, hopefully, help students find good-paying jobs.  

The Golisano Institute for Business and Entrepreneurship is scheduled to open in the Fall of 2026 with the goal of having 75 students. The first school opened in Rocheter in 2023 and has been considered a success. Clearly, there is demand, as they are expanding.

Tuition, which includes books and technology, costs $8,900 per year. There are needs-based tuition assistance programs through the institute itself, vs. getting financial aid through a government program. There is also a free lunch program for those who qualify.

What it Means for Buffalo and Western New York

Up front, it means an empty building in a prime neighborhood will no longer remain that way. Buffalo has too many buildings and areas that are abandoned and unused. The former Buffalo News Building is a prominent, highly visible structure. Having it be filled by the Golisano Institute for Business and Entrepreneurship solves that issue immediately, and with something that should be viewed in a positive way.

It provides a much more affordable education option. Tuition at a SUNY school, for example, is over $16,000 for a New York State resident who is commuting, and that does not include books. At a private school, it is more than double this cost, commonly. So it's a big savings for Western New Yorkers looking for a higher education.

As this is not a full college, you will not get as much of a well-rounded education, nor the clout of a Bachelor's degree. However, in recent years, certificates have become very attractive to employers. While 4-year degrees are essential to some careers, many would argue that a certificate or an associate's degree is more than enough to succeed in the real world. Some would even argue they aren't necessary at all. It depends on your path and interests.

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One thing is for sure: these buildings will almost certainly never be abandoned because they are filled with famous restaurants.