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ECIDA Looks to Build on 2010 Results

Business First of Buffalo [ View Original Article ]

Business First - by James Fink
Thursday, February 10, 2011

According to the Erie County Industrial Development Agency, 2010 turned out to be a very good year.

Despite a sluggish economy where investment dollars were scarce, the agency was able to assist 67 projects that collectively generated more than $1 billion in new investments on projects ranging from expansions by Dunn Tire Corp. and Fisher-Price to Chef's Restaurant drive-in window and Buffalo State College's first new dormatory in several decades.

The ECIDA calculates that its incentives to these myriad developments should help create at least 1,000 new jobs during the coming years while another 10,000 jobs have been retained.

"The economic development picture was rather bleak last January, but it turned out to be an extremely productive year for all of our programs," said Phil Ackerman, ECIDA chairman. "We start 2011 with a solid number of projects in the pipeline and feel very positive about what we'll be able to accomplish."

Not all the projects were large, headlining ventures.

Through the agency's Minority Entrepreneurs Grant and Loan Program, another six firms were aided including Bubbles Q Sauce and Appaloosa Productions Ltd.

"Over our 32 years, we have evolved from an entity that was focused on large-scale industrial developments to an agency that can assist General Motors and Fisher-Price one day and Cedars Bakery and Bubbles Q Sauce the next," said John Cappellino, ECIDA executive vice president.