Research and Engineering Development Locates R&D Division in Buffalo, New York
RED-INC established its office and high-tech lab space in the Larkin Commerce Building at 701 Seneca St. in Buffalo. The company plans a $1.3 million expansion to New York State that will create up to 40 new professional positions in the region. David Aldrich, CEO of RED-INC said, "RED-INC chose to expand in Buffalo because it's a city with an upward trajectory. We were impressed with the top engineering talent available from the local universities, the cost competitive nature of the city, and the level of amenities available within the city of Buffalo."
To support the expansion project, Empire State Development is providing the company with up to $1.2 million in Excelsior Jobs Program performance based tax credits, which are tied directly to job creation commitments.
Empire State Development President, CEO and Commissioner Howard Zemsky said, "RED-INC's decision to locate its R&D division in Buffalo further grows the City's reputation as a hub for high-tech innovative engineering facilities."
"RED-INC's decision to expand its operations to Western New York is just the latest example of how our focus on the upstate economy is translating into jobs and new opportunities across the region," Governor Andrew Cuomo said. "We will continue to attract high-tech companies like RED-INC as we grow the 21st century economy, creating a stronger New York to work and live in."
"The investment from RED-INC is yet another symbol of the economic turnaround in Buffalo and Western New York," said Lieutenant Governor Kathy Hochul. "Cranes are in the sky, storefronts are being filled, and new companies like RED-INC are moving to Buffalo and creating good-paying jobs. In December we celebrated the commissioning of the new USS Little Rock here in Buffalo. The workers at RED-INC provide support to the unmanned helicopters that deploy from the USS Little Rock. This is truly a great success story that has come full circle."
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