Niagara County Industrial Development Agency approves application for assistance for Wurlitzer Industrial Parkby jmaloni
$1.240 million investment expected to create up to 30 new jobs while retaining 275 positions at existing businesses
The Niagara County Industrial Development Agency board of directors today approved an application for assistance for Wurlitzer Industrial Park Inc. The park is a multi-tenant facility on the site of the former Wurlitzer organ factory at 908 Niagara Falls Blvd., North Tonawanda.
"It is just as important to keep existing infrastructure and office space as up to date as possible as it is to provide incentives for new builds," said NCIDA Chairman Henry M. Sloma. "In this instance, these upgrades and improvements will not only help retain existing companies at the industrial park who employ almost 300 residents in the local community, but also immediately creates new jobs and the potential for even more new jobs once the renovations have been made."
The developers are proposing to invest approximately $1.240 million for construction, site work and new equipment and furniture to retain existing tenants, as well as attract new tenants to the site. The project is expected to create up to 30 new jobs at an average salary of $30,000. It purposes to retain approximately 275 jobs from existing tenants.
The proposed project would include the demolition and renovation of 30,000 square feet of space on the second floor and 100,000 square feet of space on the third floor. In addition to these improvements, a new parking lot would also be added to accommodate new employees.
The application for assistance includes mortgage, property and sales tax exemptions, as well as a 15-year payment in lieu of taxes. The total estimated state and regional benefit is approximately $782,000 on an annual basis.