NCIDA set to vote on applications for assistance from Covanta Niagara and 210 Walnut Streetby jmaloni
The Niagara County Industrial Development Agency board of directors anticipates voting on the applications for assistance it received at its December board meeting from Covanta Niagara L.P. and 210 Walnut Street on Wednesday at 9 am at 6311 Inducon Corporate Drive, Sanborn.
Both projects, combined, will result in approximately $50 million of investments in Niagara County, while creating 123 new jobs and hundreds of temporary construction jobs.
Covanta Niagara L.P. plans to invest $30.1 million at its Niagara Falls facility on 56th Street for various capital investment projects to enhance the company's steam operations capacity.
A subsidiary of the Greater Lockport Development Corp., 210 Walnut Street LLC plans to renovate two floors of Building 4 in the former Harrison Radiator complex at 210 Walnut St., in the City of Lockport. The space would be leased to Trek Inc., which has committed to being the anchor tenant of Building 4 upon completion of the renovations to the two floors.
The relocation of Trek's headquarters from Medina will bring 72 jobs to Lockport with the creation of 26 new jobs over the next three years.
The Niagara County Industrial Development Agency is a not-for-profit public benefit corporation established in 1972 by the Niagara County Legislature. Under the provisions of the New York Industrial Development Agency Act, the NCIDA is empowered to actively attract and develop economically sound commerce and industry, thereby fostering job opportunities, general prosperity, and economic welfare for all residents of Niagara County. The NCIDA utilizes a variety of financing, tax incentive and job training programs to induce economic growth. Many of these programs can be employed individually to meet a specific need or assembled to form a comprehensive development package.