Town of Tonawanda, NY (WKBW) Praxair, Inc., a Fortune 250 company employing 1,111 full-time positions in Tonawanda, is investing $38.7 million to expand and modernize its Praxair Technology Center.
The project will ensure the 1,111 jobs currently at the Praxair Technology Center (PTC) are retained, and create at least 22 additional jobs.
Praxair has partnered with Empire State Development on this expansion project. Empire State Development has agreed to provide up to $8 million in Excelsior Job Program tax credits, based on company performance. Praxair will also receive $2 million in a capital grant tied to what ESD calls "the company's job creation commitments" in Western New York.
In addition to the potential $10 million from ESD, the Western New York Power Proceeds Allocation Board has sent the project on to the New York State Power Authority (NYPA), recommending NYPA give a $500,000 grant. The grant will be voted on by NYPA trustees at a meeting later this month.
Praxair, Inc. produces, sells and distributes specialty gases and high-performance surface coatings. Its products are used in industries such as aerospace, food and beverage, healthcare, and electronics. The company reported $12 billion in sales last year.