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Niagara County IDA Approves First-Ever Project Through Opportunity Zone Program

Niagara County IDA Approves First-Ever Project Through Opportunity Zone Program

Board also accepts application for assistance for construction of a new facility in Wheatfield and significant expansion to facility in North Tonawanda

The Niagara County Industrial Development Agency (NCIDA) Board of Directors today induced the application of assistance from the Greater Lockport Development Corporation (GLDC) for renovations to 57 Canal Street in the historic locks district in downtown Lockport.  The building is owned by the city of Lockport and leased to the GLDC.  The induced application for the GLDC is for a five-year PILOT is the first ever application through the Niagara County Opportunity Zone Program, which was created by the NCIDA to provide financial incentives in the form of tax abatements to commercial, retail and tourism based businesses to encourage reinvestment to rebuild urban centers in Niagara County.

NCIDA Accepts First Application from Opportunity Zone Program

NCIDA Accepts First Application from Opportunity Zone Program

Project will create more than 20 jobs with an economic impact of approximately $4.5 million annually; Board also accepts application for construction of new facility in Pendleton

 SANBORN, NEW YORK – The Niagara County Industrial Development Agency (NCIDA) Board of Directors today accepted an application of assistance from the Greater Lockport Development Corporation (GLDC) for renovations to 57 Canal Street in the historic locks district in downtown Lockport.  The building is owned by the city of Lockport and leased to the GLDC.  The GLDC application for a five-year PILOT is the first ever application through the Niagara County Opportunity Zone Program, which provides financial incentives in the form of tax abatements to commercial, retail and tourism based businesses to encourage reinvestment to rebuild urban centers in Niagara County.

Once renovations are completed, Trek, a manufacturer of high voltage ampl