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NCIDA: Applications would generate more than $30 million in new investments

by jmaloni
Wed, Oct 12th 2011 01:30 pm

Olin Corporation submits application for proposed $20 million project in Niagara Falls; combined projects would create 74 new jobs 

The Niagara County Industrial Development Agency board of directors today accepted applications for assistance from Olin Corporation, Gateway Harbor Inn, Frank's Vacuum Truck Services Inc., Mawhiney Trucking Inc. and Taylor Devices for economic development projects in Niagara County. When combined, these projects total $30 million and would create 74 new jobs, while retaining 328 current positions in the county.

"It goes without saying that when you receive applications for assistance that are anticipated to generate more than $30 million in investment and 74 new jobs that Niagara County is open for business," said Henry M. Sloma, chairman of the NCIDA. "It should be noted that four of these projects are by companies each with a long history of doing business here who are not just staying in Niagara County but expanding here, as well."

Olin Corporation plans to expand its plant operations located on Buffalo Avenue in Niagara Falls. The company's products include chlorine, caustic soda, hydrogen, hydrochloric acid and bleach. Olin is expanding its existing bleach product production with a new product to be known as HyPure Bleach. The new product will increase the company's market share and competitiveness in bleach sales. To accomplish the planned expansion, Olin will need to construct four new buildings on the site to house the new equipment the company is slated to purchase. The projected cost of the expansion is $20 million and the project will create 11 jobs with salaries ranging from $75,000 to $85,000.

Olin Corporation is requesting a 15-year industrial payment in lieu of taxes, sales tax abatements and mortgage recording tax abatement. The estimated cost benefit analysis calculates that the project will have an annual economic impact of approximately $3.7 million.

Gateway Harbor Inn is a mixed-use project that would convert 62-64 Webster St., North Tonawanda, into a boutique hotel offering upscale accommodations as well as a 70-seat restaurant and lounge on the first floor. The three-story brick structure was built in 1891 and is approximately 10,000 square feet. Plans call for an addition to the existing structure of approximately 4,000 square feet. The new facility will consist of 17 rooms, each unique in shape, style and size, equipped with modern technology and amenities to attract executive business travelers and leisure travelers.

The cost of the proposed project is $4.484 million and would create 16 new full-time jobs and 18 part-time positions. Gateway Harbor Inn is requesting a 10-year commercial PILOT, sales tax abatements and mortgage recording tax abatement. The estimated cost benefit analysis calculates that the project will have an annual economic impact of approximately $1.584 million.

Frank's Vacuum Truck Service, which for 32 years has been located on Royal Avenue in Niagara Falls, specializes in the transportation and management of hazardous and non-hazardous waste in the U.S. and Canada. The company serves chemical manufacturers and processors, railroads, utilities, contractors, engineering firms, governmental agencies and other waste generators. Frank's Vacuum is selling its current facility to Norampac to accommodate Norampac's need for additional acreage necessary for its construction of a new paper mill.

The company has identified an 11-acre site on New Road in Niagara Falls that it plans to purchase in order to construct a new facility, which will include a 25,000-square-foot terminal/office/parts warehouse. The proposed project is forecasted to cost $2.325 million and will retain the 45 current employees in addition to creating 15 new jobs. Frank's Vacuum Truck Service is requesting a 15-year industrial PILOT, sales tax abatements and mortgage recording tax abatement. The estimated cost benefit analysis calculates that the project will have an annual economic impact of approximately $2.4 million.

North Tonawanda's Taylor Devices Inc. is an industry-leading manufacturer of shock absorbers, liquid springs, shock isolation systems, seismic isolators, vibration dampers, power plant snubbers and other types of hydro-mechanical management products. The company intends to purchase and renovate three existing structures on Ironton Street in North Tonawanda to expand the company's capacity and to consolidate operations from a site in the Town of Tonawanda.

The proposed project is estimated to cost $2.7 million, retaining 95 employees while creating 20 new positions. Taylor Devices is requesting a 15-year industrial PILOT, sales tax abatements and mortgage recording tax abatement. The estimated cost benefit analysis calculates that the project will have an annual economic impact of approximately $2 million.

Since 1956, Mawhiney Trucking Inc. has been in the commercial and residential site contracting business. The company is currently located in an 11,600-square-foot facility on Lake Street in the Village of Wilson. Due to the expansion of the business, the company is seeking to build a 12,800-square-foot pole barn structure as well as renovate an existing 5,600-square-foot maintenance building on the company's property and 1,440 square feet of new office space. The cost of the project is estimated at $430,000 and will retain all 11 current employees and create three new positions.

Mawhiney Trucking Inc. is requesting a 10-year industrial PILOT, sales tax abatements and mortgage recording tax abatement.

In additional agency business, the board of directors approved Shipman Properties LLC's application for assistance, which was submitted at the September NCIDA board meeting. Shipman Properties LLC, the holding company of Shipman Print Solutions, plans to relocate the 105-year-old printing company to a long-standing vacant building at 6120 Lendell Road, Town of Wheatfield. Shipman Properties LLC was approved for a 15-year industrial PILOT, sales tax abatements and mortgage recording tax abatement. The project is projected to create two new full-time jobs, while retaining the company's 28 full-time and two part-time employees.

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