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Niagara IDA Acts on Multiple Developments

Business First - by James Fink

Wednesday, December 15, 2010

Two new hotel projects, along with a pair of manufacturing plants and another key item for the proposed Verizon data center, have been approved by the Niagara County Industrial Development Agency.

Combined the proposed projects could represent $5 billion in new investment in the county.

“This flurry of activity represents an unprecedented level of economic development activity in Niagara County where hundreds of millions of dollars are being invested in our community by local, national and international businesses,” said Henry Sloma, NCIDA chairman.

Among the actions approved by the NCIDA’s directors:

• Agreed to set a public hearing to consider allowing AES to transfer 180 acres to Verizon for its proposed data center in Barker. The center, which represents a potential $4.5 billion long-term investment by Verizon could create 200 permanent jobs and another 500 construction jobs while the complex is being erected.

Niagara County is vying with other states for the center.

If the center is built, it could represent $110 million in new tax revenues for several Niagara County communities during the next two decades.

NCIDA officials are working on possible scheduling dates for the public hearing.

The project remains the subject of a lawsuit filed by an Amherst resident who owns property near the site.

• Greenpac Mill received an abatement package that will help finance the construction and development of a “green” manufacturing facility on Royal Avenue in Niagara Falls. Greenpac is eyeing an 18-acre site for its planned $400 million project. The plant, which will produce high performance, energy-efficient, light weight liner boards sold to corrugated box manufacturers, could see 110 new jobs created, plus another 400 jobs during the construction period.

• Edwards Vacuum also received an abatement package that will help the company build a 55,000-square-foot plant in Wheatfield. The $6.9 million project will see the company add 25 jobs while retaining another 100 workers.

• A $4.9 million inducement package was approved for Vishal Co. that will help the company with its plans to buy and demolish the Sunrise Inn at 6335 Niagara Falls Blvd. and replace it with a 66-room Ramada Inn.

• Niagara Falls Hospitality Inc. was approved for a $4.3 million inducement package that will see the company raze the former Captain’s Cove Bar and Restaurant at 7726 Niagara Falls Blvd. A 75-room Microtel hotel is planned for the site.

“Despite the significant economic challenges in our region, our agency has the tools and resources to create a competitive business climate that is luring new jobs and investment,” Sloma said.
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