NCIDA receives applications for assistance for expansion projects; re-elects Sloma as chairby jmaloni
The Niagara County Industrial Development Agency board of directors today hosted its annual meeting to vote on its election of officers, reaffirmation of policies and guidelines, and selection of committee members. The agency also accepted applications for assistance for consideration from Modern Tec Manufacturing, which plans to construct an expansion to its operations in the Town of Cambria, and SOPS LLC (Sun Orchard Fruit Company), which has plans to expand its operations in Burt to make room for a new production line.
The NCIDA board also voted on the 2012 slate of officers and re-elected Lewiston's Henry M. Sloma as chairman. Lockport Mayor Michael Tucker was re-elected first vice chair; Stephen F. Brady, media relations manager for New York, National Grid, was re-elected second vice chairperson; Deanna Brennen, president, Niagara USA, was re-elected secretary; Mark Onesi, dean of academic affairs at ITT Technical Institute was re-elected assistant secretary; and Samuel M. Ferraro, executive director, NCIDA, was re-elected treasurer.
"I am very appreciative of the board of directors for electing me for another term as chairman of the Niagara County IDA, and I am very honored to lead this important board as we work collectively to revitalize Niagara County by bringing new jobs and investment to our region," Sloma said. "I am excited about our prospects for a very successful year as we are implementing an aggressive marketing program with a particular focus on the Southern Ontario marketplace, which we believe holds great promise for Niagara County."
Modern Tec Manufacturing is located on Lockport Road in the Town of Cambria. The business was started by Christopher Matyas in December of 2009. The company manufactures custom-made, high-precision machine components, including parts for the medical industry, military armoring systems, gas compression parts and multi-axis machining of impellers.
Due to Modern Tec's significant growth over the past few years, the company is planning to construct a 10,000-square-foot addition to its current building. The project will also include the purchase and installation of additional production equipment to fulfill the company's growing product demand.
The anticipated cost of the Modern Tec project is $1.019 million. It will create 10 new jobs, while retaining 16 current positions. Modern Tec 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 $1.75 million.
Sun Orchard Fruit Company is a fourth-generation, family-owned company. It operates a fresh apple packing facility at its location on Transit Road in the Town of Newfane. Sun Orchard packs and ships approximately 500,000 cartons of apples annually.
The company is proposing to build a 24,000-square-foot addition to its current operation to house a new production line. The expansion is needed because of projected increases in apple supply and demand. The expanded facility will enable Sun Orchard to pack the increased supply more effectively and efficiently and provide a higher quality product to meet demand.
The projected cost of this project is $3.483 million. It will create 12 new jobs, while retaining 54 current positions. SOPS 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 $635,800.
In additional NCIDA business, the board approved two business development loans through the Niagara County Development Corporation to Woodcock Brothers Brewing Company and Beach Bright.
Woodcock Brothers Brewing Company was granted a $275,000, seven-year loan period at 80 percent of the prime commercial lending rate, subject to a 5 percent floor and a 10 percent ceiling; the current revolving loan fund rate is 5 percent. The loan is necessary for the company to complete construction, which has proven to be more extensive than expected for the former cold storage building at 638 Lake St., Wilson. The brewery is due to open by late spring or early summer. Plans call for beer brewing space, a 40-seat bar and 40-seat dining room to be developed along with a 40-seat outdoor patio. Once completed, the brewery will hire 30 new employees within the first three years of operation.
Beach Bright, a woman's apparel company, received a $25,000, five-year loan with a six-month payment-free period at 80 percent of the prime commercial lending rate, subject to a 5 percent floor and a 10 percent ceiling. The current revolving loan fund rate is 5 percent. The loan will be used to help offset costs to design and develop inventory of the company's light-up flip-flop product. Once developed, the company will hire two new employees at its headquarters on Sweeney Street in North Tonawanda.