Buffalo and the surrounding area was long involved in the railroad industry, steel manufacturing, and automobile production. This includes the Pierce-Arrow Corporation,which was active until 1938, and are now considered collector's items. While major steel production ceases to exist, several smaller steel mills remain in operation. In addition, Ford maintains operation of its Buffalo Stamping Plant south of the city, and Chevrolet has two plants, a production plant in Tonawanda near the city line, and a tool and die plant in the city. The windshield wiper was invented in Buffalo, and the Trico company still operates some facilities there. For many years, Buffalo was the nation's second largest rail center.
Buffalo is the headquarters of M&T Bank, a large commercial bank with assets of $57 billion as of 2006. HSBC Bank USA also has major operations in Buffalo. Other banks, such as Bank of America and KeyBank, have corporate offices in Buffalo, and Citigroup has recently announced it will soon follow in Amherst, New York, Buffalo's largest suburb. Geico Insurance also has a regional office in the suburb of Amherst.
Another major industry in Buffalo is debt collection. There are 6 major firms located in Buffalo and the surrounding area, and New Era Cap Company, the largest sports-licensed headwear company in the United States, is based in Buffalo.
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