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Project Name

Sumitomo Rubber USA, LLC - 2021


10 Sheridan Drive
New York

Public Hearing Transcript

Inducement Resolution

Economic Impact Analysis

Project Details

SRUSA is considering a significant capital investment in the Facility.  The investment would involve major replacement of and upgrades to production and other equipment. The Facility is approximately 100 years old and the proposed investment will enhance its efficiency and solidify the Facility's long-term economic future in WNY.  The proposed investment will nearly double output at the Facility, resulting in a significantly lower cost per kg that ensures SRUSA tire products can be sold profitably. To achieve the needed, increased production, SRUSA would purchase new mixing, tire building, curing and miscellaneous equipment. A 60,000 square foot building will be added for new tire building equipment on the site that is currently in use as an employee parking lot. Additional limited capital investments will need to be made for building improvements/renovation to an existing 15,200 sq ft building at the Facility.  The estimated capital investment would be made over the next 3 years as follows:      2021 = $78.4M,  2022 = $41.5M and 2023 = $6M, totaling $126M.   

Status Details

10/27/2021 - $126,000,000 Lease/Leasback Inducment Resolution passed by the ECIDA Board of Directors