According to Buffalo Business First, Praxair Inc. will invest $38.7 million to expand and modernize its Praxair Technology Center in the town of Tonawanda, NY.
The article states that the expansion will result in 1,111 direct full-time jobs remaining in the town, and the addition of about two dozen new jobs. Praxair (NYSE: PX), a Fortune 250 company, is one of Tonawanda’s largest employers. The project will be assisted by Empire State Development, which will provide up to $8 million in performance-based Excelsior Jobs Program tax credits and a $2 million capital grant, both which are tied directly to the company’s job creation and investment commitments. Additionally, the Western New York Power Proceeds Allocation Board has recommended a $500,000 grant from New York Power Authority, which is contingent on NYPA trustee approval at its meeting later this month.