Five companies, including the Olin Corp., are considering business expansion projects in Niagara County that could translate into more than $30 million in new private sector investment.
Collectively, the four projects could see 74 new jobs created and another 328 retained.
All five were reviewed by the Niagara County Industrial Development Agency's board of directors Wednesday morning. The NCIDA board, in accepting the five applications, is expected to vote on the projects next month.
"It goes without saying that when you receive applications for assistance that are anticipated to generate more than $30 million in investment and 74 new jobs that Niagara County is open for business," said Henry Sloma, NCIDA chairman. "It should be noted that four of these projects are by companies each with a long history of doing business here who are not just staying in Niagara County, but expanding here as well."
Olin is working on a proposal to expand its operations at its Buffalo Avenue plant in Niagara Falls but adding four buildings that will house various machinery and state-of-the-art equipment. The four buildings total 10,000-square-feet.
Olin manufactures chlorine, caustic soda and hydrogen at the plant and will be adding a new bleach product called HyPure Bleach. The four buildings tie into the production of the new bleach.
Olin has pegged the expansion cost at $20 million and the company is expected to create 11 new jobs, each paying between $75,000 and $85,000 annually.
The Niagara IDA is offering a 15-year payment-in-lieu-of-packages to Olin along with standard sales and mortgage tax abatements.
Other projects that will be considered in November include:
• The developers of Gateway Harbor Inn on Webster Street in North Tonawanda are seeking an inducement package to help finance a $4.48 million project that will see a three-story, circa 1891 vacant building renovated into a boutique hotel and 70-seat restaurant. The hotel will have 17 rooms.
Officials expect to hire 16 people on a full-time basis and another 18 part-time workers.
• Frank's Vacuum Truck Service is asking for an inducement package that will help finance its plans to move to new facilities on New Road in Niagara Falls from its current home on Royal Avenue.
Frank's is selling its Royal Avenue property to Norampac for its new paper mill plant in Niagara Falls.
The New Road site, an 11-acre parcel, will see Frank's construct a 25,000-square-foot terminal and office building.
The entire project carries a $2.32 million development price tag and will see Frank's create 15 new jobs will retaining its current 45-person workforce.
• Taylor Devices Inc. is seeking a $2.7 million inducement package that will help finance the acquisition and renovation of three Ironton Street buildings in North Tonawanda.
Taylor will be shifting some operations from its Town of Tonawanda facility to the newly-acquired buildings. The company hopes to create 20 new jobs will retaining another 95 workers.
• Mawhiney Trucking Inc. is planning a 12,800-square-foot expansion to its Lake Street operations in Wilson.
Mawhiney will also renovate an existing 5,600-square-foot maintenance garage and 1,440-square-feet of office space.
The $430,000 project will see the company add three workers. Mawhiney has 11 employees.
• NCIDA directors formally approved an incentive package that will allow Shipman Properties to move the 105-year-old Shipman Printing Co. to its new location on Lendell Road in Wheatfield.
Shipman will create two new jobs while retaining 28 full-time workers.