Buffalo, NY (WBEN) A Canadian outdoor furniture maker will cross the border, and set up a plant on Buffalo's waterfront. 250 jobs will be created.
The NFTA Board of Commissioners has approved the sale of its remaining Outer Harbor property to Gracious Living. “Gracious Living Corporation will breathe new life into two abandoned waterfront structures and facilitate private sector investment and job growth in Western New York,” Governor Cuomo said. “We are pleased to welcome the company to build their first U.S. plant to serve its growing U.S. market, as we continue to foster redevelopment on Buffalo’s waterfront and revive New York’s manufacturing industry. Just three weeks ago, we announced a new plan to dramatically transform Buffalo’s waterfront to pave the way for new investments and business opportunities, and today’s sale by the NFTA is another step forward in our goal to build a world-class waterfront for the community.”
“The U.S. market is an important part of our growth plans and having a U.S. based facility demonstrates our commitment to serving and growing our U.S. customer base. We have found the state and local governments very helpful and supportive in building the case for locating our first U.S. plant in Buffalo which we appreciate and look forward to working with them going forward,” said Gracious Living President Enzo Macri.
“The sale of this property is a very sound strategic decision that follows Governor Cuomo’s visionary plan for Buffalo’s waterfront,” said NFTA Chairman Howard A. Zemsky. “It provides the NFTA with a global solution for exiting its waterfront property; at the same time helping to create job growth in the region and generate much needed revenue for the NFTA.”
Gracious Living Corporation, of Toronto, Canada, will receive $2 million in performance-based Excelsior Jobs Program tax credits from the State in return for the company’s job creation commitments resulting from its investment.
Port Terminal buildings A and B on Buffalo’s Outer Harbor have much deferred maintenance, and the NFTA has been anxious to put these two buildings to use as a job-creating project and pass on the cost of maintaining them. Gracious Living is proposing to pay cash for these buildings to set up a plastic injection molding plant and warehouse at the site.
The approximately 49.5 acres of real property located at 901 Fuhrmann Boulevard in Buffalo will now be sold at a negotiated price of $4.7 million. Upon execution of the Disposition Agreement, Gracious Living will have a 120-day due diligence period to conduct environmental testing and other investigations.