A Pennsylvania company whose Wheatfield plant specializes in high-precision electronic resistance materials plans to invest more than $8.2 million in new technology and automated equipment in an expansion expected to create 40 jobs over three years.
Vishay Dale Electronics, a subsidiary of Vishay Intertechnology of Malvern, Pa., wants to construct a 10,000-square-foot addition to its existing plant at 2160 Liberty Drive.
The company is asking the Niagara County Industrial Development Agency for over $1 million in property and sales tax breaks.
Founded in 1978 in Niagara Falls as Ohmtek, the company became a leader in technology for advanced processes in “precision resistive products.” Following its acquisition by Vishay in 1988, it changed its name to Vishay Thin Film.
The company operates in a 37,768-square-foot facility on 4.9 acres, and will expand its building to include clean-room space.
Project costs include $2 million for construction and improvements and $6 million for equipment. It will be funded entirely with equity, but the company says it needs the tax breaks.
“This project helps keep this plant viable and keep work in New York State,” the company wrote in its application.
It’s asking for $449,790 in property tax breaks through a 15-year payment-in-lieu-of-taxes agreement and $560,000 in sales tax breaks. In exchange, it plans to create 40 production, management and administrative jobs over three years, paying an average of $48,000 a year, on top of retaining its current 220 positions.
The NCIDA will consider the tax breaks next month.
In other action, the board on Wednesday also approved $824,948 in tax breaks for a pair of apartment projects by Cityscape Property Management in North Tonawanda.
In the first project, valued at $2.24 million, the company plans to construct two buildings at 1304-1310 Payne Ave. and 325 Stenzil St., with eight market-rate apartments of about 1,300 square feet each, for a total of 20,800…
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