THE ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY APPROVES $4.7 MILLION IN TAX ABATEMENTS FOR TWO BUFFALO PROJECTS THAT REPRESENT $103 MILLION IN NEW INVESTMENT
Buffalo, NY - The Erie County Industrial Development Agency today approved $4.25 million tax breaks for a $100 million medical clinic at 1001 Main St., on the west edge of the Buffalo Niagara Medical Campus (BNMC).
Conventus Partners, LP, a Ciminelli Real Estate subsidiary, is constructing a six-story, 287,000-square-foot medical office building housing clinical, practical and research office space.
Most of the structure would house medical offices and labs which will provide support services to the John R. Oishei Children's Hospital. The complex, which is expected to create 100 new medical jobs on the BNMC, would also pay full property taxes.
Tax breaks for the project were put on hold at the board's Februarysession over concerns the building would primarily house medical offices, with no pre-signed tenants committed to bio-medical research.
The ECIDA board also approved $49,000 in incentives to facilitate the relocation and expansion of American Douglas Metals (ADM), a premier manufacturer of aluminum and steel products with locations in the Town of Tonawanda, Orlando, FL and Atlanta, GA.
The third-generation, family-owned and operated metals company also has sales offices, metal processing and warehousing facilities in 11 sites in the Eastern U.S. and Canada.
The local company plans to spend just over $2 million to acquire the structure, plus nearly $900,000 to renovate and equip the facility to meet its needs.
Nearly half of ADM's customers are located outside New York State, with 30 percent of its goods sold to clients outside the U.S. The company's metal components are used by a variety of manufacturers, including producers of windows and doors, walk-in coolers, truck trailers, above ground pools and ceiling grids.