5/21/14 – Reid Petroleum Corp. is asking the Niagara County Industrial Development Agency for financial assistance for a $1.37 million expansion of its 100 West Genesee Street headquarters.
IDA Board of Directors voted Wednesday to accept Reid’s application for a 10-year Payment-In-Lieu-of-Taxes agreement and sales tax exemptions, with benefits totaling $1.8 million. The board expects to vote next month on the proposal.
The project is a two-story, 7,500 square foot expansion on the building’s west side, as well as exterior renovations. The addition will house Reid Stores, Inc. the division of Reid Group that oversees 48 Crosby’s convenience stores located in Pennsylvania, Eastern Ohio, Western and Central New York.
Nine workers would move to Lockport from Reid Stores’ current location in Brockport, said Michael Mahar, a real estate specialist with Reid. Three new jobs would be created, meaning a total of 12 new jobs for Lockport.
Those jobs could range from accounting positions to human resources to truck drivers to real estate, Mahar said.
The expansion will also allow for future growth, as roughly a quarter of the space will be dedicated to that, Mahar said. There are 65 total employees right now at the West Genesee Street location.
“We’re in growth mode,” Mahar told the IDA board.