Top Seedz has been awarded more than $365,000 from the Power Authority of the State of New York to go toward a $4.6 million project to support a move into a larger, renovated building.
The company, which won the 43North competition in 2021, is planning to expand into a 34,379-square-foot leased facility at 101 Oak St., where its landlord will add machinery and equipment to meet increased orders.
Facility improvement costs, namely power upgrades required to support automated equipment, are substantially higher than originally anticipated, creating a funding gap that would postpone Top Seedz’s expansion “unless additional funding sources can be secured,” the company told the state Power Authority.
The benefits award of $366,605, or 8% of the project cost, will help the company, which makes artisan seed crackers and roasted seeds, retain 42 jobs and create 11 additional positions over seven years.
The project would start in October, with an anticipated finish of December 2024.
The funds will go toward the infrastructure owned by the landlord, but the equipment benefits Top Seedz, according to the Western New York Power Proceeds Allocation Board, which approved the measure Thursday.
Top Seedz currently operates out of a 6,500-square-foot facility in Cheektowaga, where it produces 1.5 million boxes of crackers annually. It anticipates demand climbing to approximately 6 million boxes a year, helping grow revenues to more than $25 million by 2026.
The company has already raised $2 million in economic development benefits, including $1 million as a 43North winner.
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