Erie County Industrial Development Agency approves over $1.2 Million in Incentives to assist three projects totaling more than $12 Million in new investmentby chocieni
Buffalo, NY - The Erie County Industrial Development Agency Board of Directors today approved nearly $1.3 in various tax abatements to aid projects in Orchard Park and Cheektowaga which will leverage more the $11 million in private investment, creating 150 new local jobs.
The ECIDA board members amended a prior approved package of $527,534 in sales, property and mortgage recording tax for Polymer Conversions, Inc. for a $7.2 million expansion project at 5732 Big Tree Road in Orchard Park. The company, which is a premier precision custom plastic injection molder specializing in medical components, gearing devices and project solutions, is increasing its project plans to construct a 20,000-square-foot addition to meet increased product demand and company growth.
The $7.2 million project includes $4.2 million in building costs and $3 million in new production equipment. Polymer Conversions expects to add 15 jobs to its 80-person workforce as a result of the expansion.
The ECIDA has worked with the Orchard Park company since 1989, facilitating bond sales and a sales-leaseback arrangement to continue its steady growth.
The ECIDA board also okayed amended an inducement package for Bryant & Stratton College for its Southtowns campus, located at 180 Redtail Road, in Orchard Park. The $3.1 million project calls for a 20,000-square-foot facility to house a call center to support its online education programs. The revised inducement package includes $578,000 in property, sales and mortgage recording tax abatements. The enhanced call center is expected to boost employment to 145 full- and part-time jobs, up from a current 80 positions.
The board previously approved a lease-leaseback arrangement in June of this year.
The board also aided a $2 million plant renovation project for Calspan Corporation, Inc., located at 4455 Genesee Street, in Cheektowaga, with a $162,000 in sales tax savings.
Calspan, an innovative leader in simulation, testing and technology services for the aerospace and transportation communities, expects to add 10 jobs to its 205-person workforce as a result of the project.
The project will include $1.05 million in plant renovations, $800,000 in new equipment and $150,000 in new equipment.
The board also approved acceptance of a $300,000 brownfield redevelopment program grant from National Grid for the Bethlehem Steel Rail Improvement Project. The ECIDA, Erie County, Tecumseh Redevelopment, Inc. South Buffalo Railway and National Grid are partnering to relocate an existing rail corridor. The National Grid grant will be used to redevelop 400 acres of the former Bethlehem Steel site for a business and multi-modal logistics park. The grant funds will be combined with $4.4 million of New York State Multi-Modal rail funds allocated to Erie County. Work will begin on the relocation program in the spring.