Western New York Power Proceeds Allocation Board Awards Grants To Three Empire State Manufacturers
Area Development Online News Desk (09/11/2013)
Three companies in Buffalo, Akron and Pembroke, New York, were recommended for expansion funding grants from Western New York Power Proceeds Allocation Board.
Companies awarded grants included:
A manufacturer of specially and artisan cheeses, Yancey’s Fancy, which plans to invest $20 million in expanded facilities at Buffalo East Technology Park, located in Pembroke, New York.
According to Governor Andrew Cuomo’s Office, the project will add 112,000 square feet of production space for distribution, offices and employee facilities to the existing 29,000- square-foot plant. The company, which was recommended for a $500,000 Allocation Board grant, will retain 65 jobs and create 50 new jobs in a rural area.
An advanced manufacturing, logistics and energy company, OSC Manufacturing & Equipment Services, Inc., an affiliate of Ontario Specialty Contracting, will move to the site of the former American Axle facility in Buffalo, New York.
The $17.5 million project will include the build-out of manufacturing space to produce its mini excavator and other equipment, along with heavy equipment rental and service, metal manufacturing and attachment fabrication. The project, which was recommended for a $750,000 grant, will retain 20 employees and create 26 jobs.
A label printing firm, Niagara Label Company, will complete a $938,880 a second and final phase of a project totaling $1.56 million. It will increase production to meet demand, thereby increasing employment with the creation of 17 new jobs in the rural Village of Akron, New York. The project was recommended for a $150,000 Allocation Board reward.
Legislation signed into law last year by Gov. Andrew Cuomo, known as the Western New York Power Proceeds Allocation Board Act, authorizes net earnings from the sale of unused hydropower from the NYPA’s Niagara Hydroelectric Power Plant to be deposited into the Western New York Economic Development Fund. Grant funds are used to support economic development in Western New York.
“The projects recommended today for funding from the power proceeds fund represent smart investments that attract business, create jobs and generate economic activity in Western New York,” said Allocation Board Chairman Anthony J. Colucci III.
"Today's recommendation by the Western New York Power Proceeds Allocation Board will support the investment of millions of dollars in the region's economy," Gov. Cuomo said. "Western New York is a strong region for manufacturing with a highly-educated workforce…”
The Western New York Power Proceeds Allocation Board reviewed these and other applications for Fund proceeds in accordance with requirements of the Act. Eligible projects must be located within a 30-mile radius of NYPA’s Niagara Power Plant and projects must support the growth of business and lead to the creation or protection of jobs. The Allocation Board also considers the extent to which an award would be consistent with the strategies and priorities of the area New York regional economic development councils.