Bridgestone APM Company, a subsidiary of Bridgestone Corporation, the largest tire and rubber manufacturer in the world, will invest $13.6 million to construct a 65,000 square-foot manufacturing facility on an 11-acre site in Wheatfield, New York.
The facility, located in Vantage International Point industrial park on Inducon Parkway, is projected to be an investment of $6.5 million for the Western New York developer, the Montante Group. BAPM will lease the building from the Montante Group and expects to invest an additional $7.1 million in machinery and equipment to create 89 new jobs within 5 years. Bridgestone APM Company will use the new plant to produce polyurethane foam used in car seats. Much of the product will be exported to Canada for its automotive market.
This investment is projected to create 89 new jobs within five years in Niagara County, and receive up to $1.2 million in Excelsior Tax Credits from Empire State Development. Support for the project also includes tax incentives from the Niagara County Industrial Development Agency that are estimated to save the company almost $3.2 million over the 15-year life of the abatement. A grant of up to $750,000 from the New York State Office of Community Renewal will be used to offset a portion of the cost of machinery and equipment to support the project.
Operations at the new facility are expected to begin in the first quarter of 2017. Full production is projected to be online in the June to August timeframe of the same year.
Takao (Taka) Ishibashi, Executive Vice President of the Foam Products Division at Bridgestone APM said: “Empire State Development, the Buffalo Niagara Enterprise, the Niagara County Industrial Development Agency (NCIDA) and the Town of Wheatfield worked collaboratively with us during every stage of our site selection process.
Bridgestone APM Company is on a very tight timeline to construct our facility and begin production. We appreciate all of the hard work from state and local economic development professionals to make this happen.”
Noriyuki (Duke) Kawai, President of BAPM said: “Bridgestone APM Company was very pleased with the level of professionalism exhibited by all parties throughout this process. Bridgestone APM Company is committed to being an outstanding corporate citizen and local supporter in all of the communities in which we have facilities,” Kawai continued. “We hope for that same continued level of commitment and support from the community. We think that Wheatfield has the talent and the resources we are looking for to continue the long-term growth of Bridgestone APM Company.”
Matthew Montante, Montante Group COO said: “We are very excited to bring new jobs and investment to Niagara County. We look forward to working with all of the partners involved in this significant economic development project for our region.”
Howard Zemsky, ESD President/CEO said: “I can’t think of a better place than Niagara County for a world-renowned company, like Bridgestone, to build a state-of-the-art manufacturing plant. Western New York’s revival and proximity to Canada was a distinct advantage in beating other states that were vigorously competing for the new facility and the dozens of jobs it will bring.”
“This new facility will create jobs and bring private investment and economic opportunity throughout the region,” Governor Andrew Cuomo said. “I am proud to welcome Bridgestone APM to Niagara and I look forward to seeing the manufacturing sector continue to thrive in Western New York for years to come.”