Buffalo News - ECIDA Awards Tax breaks to pharmacy company and business center
ECIDA awards tax breaks to pharmacy company and business center
Wednesday March 30, 2016
BY: David Robinson (mailto:email@example.com)
Upstate Pharmacy's new home in West Seneca is getting an extra $27,125 in sales tax breaks through the Erie County Industrial Development Agency.
The IDA approved the tax breaks Wednesday to help Upstate pay for the equipment that will be used in the facility.
The tax breaks are in addition to nearly $240,000 in incentives that the IDA approved in September for the construction of a $1.7 million facility by Concept Construction. That 15,000squarefoot building, now completed, will be leased by Upstate and used as a regional dispensary by the company, which provides pharmacy services to 230 group homes, as well as 1,100 cancer patients referred to them by health care providers like Roswell Park Cancer Institute.
Upstate does not offer walkin, retail pharmacy services, which makes them eligible for tax breaks through the IDA, said Karen Fiala, the agency's assistant treasurer.
Upstate now operates out of a 10,000squarefoot building on North America Drive, where it employs 70 pharmacists and technicians. The company is promising to create 10 new jobs within two years.
The IDA also approved $250,000 in funding for the Beverly Gray Business Exchange Center, a cityrun smallbusiness development center that will assist women and minorityowned businesses.
The center is an East Side resource center aimed at helping small businesses get started and gain access to resources to grow.
The agency also approved $75,000 to help pay for a study of the local labor market by the University at Buffalo Regional Institute and $100,000 for Invest Buffalo Niagara to hire a consultant to develop business leads in Canada.
The IDA board also learned that Andrew Schoeppich, the IDA's treasurer, will leave his post on April 8 to take a new job as assistant controller at Athenex, a Buffalo drug development company that is building a drug production facility in Dunkirk.