Buffalo Film Works partners believe that finalizing construction on its fourth soundstage – a massive facility that will be able to house major cinematic set pieces – will be a transitional moment for their company.
They turned to a local investment firm to help fund the project.
Western New York Impact Investment Fund invested $750,000 earlier this month into Buffalo Film Works, which is transforming a formerly abandoned factory in the Seneca-Babcock neighborhood into a hub for filmmakers. Several notable features, including “A Quiet Place II,” have already been filmed on the first three sound stages.
[Buffalo Film Works nearly finished with its fourth sound stage, New York's largest]
The impact fund recently closed on $11.55 million in new funding, which it plans to spend on local entrepreneurs involved in high-growth projects that will also have a positive impact on the community.
Fund CEO Tom Quinn said Buffalo Film Works is projected to be a major job creator in an underprivileged neighborhood. He praised the resourcefulness of the co-founders – Kevin Callahan, Jennifer O’Neill and George Pittas – who have spent four years bootstrapping the project.
That includes turning a derelict site into a place where Hollywood films are made, and developing the relationships that will bring those projects to Buffalo.
“I personally believe the film industry is going to blow up in Buffalo,” Quinn said. “This community could be a mecca for filmmaking.”
[Bank of America, M&T Bank power $12M investment into WNY Impact fund]
Callahan said the investment comes at a time when Buffalo Film Works is turning the page after years of construction – though it still plans to convert another building on the site into offices for clients. It’s time now to focus on business development.
“We’re transitioning now from a phase of organic growth to targeted growth and the capital will allow us to make that transition,” Callahan said.
The $750,000 is the only equity-based investment Buffalo Film Works has accepted, and it will likely remain that way for now. That could change in the future, especially if the company seeks to invest in the productions in hosts.
Buffalo Film Works is one of 21 local companies to acknowledge a private, growth-oriented round of funding this year. The list includes Torch Labs ($40 million), Centivo ($30 million), Circuit Clinical ($29 million), Kangarootime ($26 million), SparkCharge ($22 million), PostProcess Technologies ($5 million), VeriTX ($4.5 million), HELIXintel ($4 million), ShearShare ($2.3 million), Azuna Fresh ($2.5 million), Patient Pattern ($2 million), OneBridge Benefits ($2 million), BetterMynd ($1 million), Buffalo Film Works ($750,000), Cahill Tech ($500,000), Ellicottville Greens ($300,000), Swift Rails ($255,000) AireXpert ($125,000), Arbol ($110,000), Lemma Labs ($100,000), Timberhut (undisclosed) and Ognomy (undisclosed).
