Western New York may not be a hub of semiconductor manufacturing, but Niagara Falls could still benefit in a big way from the industry’s growth because one of its manufacturers plays a key role in the production process
Niacet Corp., which makes a specialized gas that is needed to make semiconductor wafers and crystals, plans to invest $121 million to expand and renovate portions of its 19-acre campus at 400 47th St.
The News’ Buffalo Next team covers the changing Buffalo Niagara economy. Get the news in your inbox 5 days a week.
That will enable the century-old company to meet the growing demand for its core product in both defense and commercial applications, while keeping that manufacturing within the United States. Otherwise, the demand could be met by foreign competitors.
That’s why it is asking the Niagara County Industrial Development Agency for $5 million in sales tax breaks over two years, and a 15-year property tax abatement that will save it $611,332. And the NCIDA – which will review the project on Wednesday and vote on the request next month – says the project could generate total benefits of $224.3 million for New York state and Western New York.
People are also reading…
Niacet, whose Niagara Falls operation dates back to 1924, is a specialty chemical…
Read the full article here
Leave a Reply