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Friday, December 19, 2008

Phoenix firm picks Amherst

Business First of Buffalo - byJames Fink

 A Phoenix-based debt collection agency has selected an Amherst site to open its first Northeast office.

Calvary Portfolio Services LLC, whose client includes a Who’s Who of financial and automotive industry clients, has agreed to lease space in Ciminelli Development Co.’s Village Park Business Park. Officials say the company eventually hire 175 new workers. Calvary currently has 24 local employees, but officials told representatives from the Amherst Industrial Development Agency they hope to add 151 more workers in the next 18 months.

The Amherst Industrial Development Agency’s directors, Friday morning, approved a $600,000 installment sale incentive package to help lure Calvary to the region. Calvary has operations in Phoenix, Minnesota and Tulsa.

The Buffalo Niagara Enterprise helped lure the company to Amherst.

"They were looking and exploring other options, but ended up here," said David Mingoia, AIDA deputy director.

Calvary officials expect their annual local payroll to top $5 million once it hires all its workers. Including spin off factors, the company’s total economic impact on the region could exceed $12.87 million.

"There are significant local benefits to the costs," said James Allen, Amherst IDA executive director.

The AIDA also approved a $245,000 installment sale incentive package that will help Coffee Culture open its first U.S. location. The Canadian-based retailer is renovating a historic building at 5590 Main St. in the Village of Williamsville and will use it as its flagship store and training center.

The AIDA package will save the company $10,718 in sales taxes.

The building sits in the middle of one of Amherst’s designated development zones.

"This is exactly the type of project that development zones were created for," said Rick Vilonen, agency chairman. "This is a perfect project. They are taking over a vacant building."

Coffee Culture will be opening as many as 10 stores in the coming months, said Peter Karamountzos, company president.

Besides the Williamsville location, Coffee Culture has signed a lease to open a store on Washington Street in Ellicottville and is considering two downtown Buffalo sites.