ECIDA Approves Inducement Package to Bring New $1.4 Million Retail Project to Buffalo's East Side
January 10, 2011 – Buffalo, NY - The Erie County Industrial Development Agency today approved a tax reduction package for a new Family Dollar store at 1055 Genesee Street in Buffalo. The board approved $60,000 in sales and mortgage recording tax abatements to aid conversion of a former gas station site into a new retail location.
Developer David E. Pawlik plans to build a 10,640-square-foot Family Dollar store on the site of a former NOCO gas station. The distressed property was recently remediated through the state Department of Environmental Conservation’s Brownfield Clean Up program and is ready for redevelopment.
When it is open for business, the new Dollar General store will employ 10 full-time and five part-time workers, with a project economic spin-off of more than $522,000 annually through wages and sales.
Earlier this year, Pawlik was part of a development team that completed a $1.5 million conversion of the former North Park Presbyterian Church at 700 Parkside Avenue into a residential complex. The ECIDA also provided inducements for that adaptive reuse effort.
Also Monday, the board reviewed its 2010 inducement package tally, a body of project support that included 25 projects resulting in $143.2 million in new local economic development investment. The projects, which cover a variety of industries, from food production to biotech research to housing, are projected to support some 4,500 existing jobs and create another 600 in the next two years.
In 2010, the agency’s lending arm, the Industrial Land Development Corporation, acted as a pass-through agency for $81 million in new projects. Those funds are projected to sustain over 5,700 jobs, while creating another 458.
That project list includes major capital improvement projects at three local colleges - Buffalo State, Canisius and Medaille colleges.
“It was quite a productive year for the ECIDA, the ILDC and the many Erie County companies we’ve assisted. We look forward to more growth and even more investment in the next 12 months,” said ECIDA Chairman Phil Ackerman.