A pair of companies, including an East Side Buffalo firm that hopes to hire neighborhood residents, have received funds that will help with their respective expansion projects.
The funds are being channeled by the Western New York Power Proceeds Allocation Board, formed two years ago to take net earnings from the sale of unused hydropower and funnel them toward local development projects.
The board agreed to allocate $165,570 to Living Green Insulation in Buffalo.
LGI Products & Services LLC creates cellulose insulation and hydro seed mulch from recycled paper products that would have otherwise gone into landfills.
The company hopes to hire 29 people during the next five years -- most coming from its immediate East Side neighborhood.
The entire expansion project carries a $891,765 development price tag.
Also approved was an $80,000 allocation to Eden Valley Growers to help finance the construction of a $400,000 new staging and packing area. The project will create six new jobs.
The recommendations have been forwarded to the New York Power Authority Board of Trustees, who will consider it on Feb. 25.