Funds flow to WNY expansion projects2013-02-21 21:57:48
Empire State Development announced that seven Western New York companies have been awarded $5.75 million in loans and grants to assist with various expansion projects.
The state’s top economic development agency said collectively, these companies, operating in Cattaraugus, Erie and Niagara counties, will make capital investments totaling $112.6 million, retaining 1,785 jobs and creating 329 full-time jobs.
Empire Genomics LLC, formed in 2006 at the Roswell Park Cancer Institute in Buffalo, is a specialized genetic services testing firm that operates in the In-Vitro Diagnostic industry. The company serves the pharmaceutical, biotechnology, molecular diagnostics and medical research markets around the world, and has significant expertise in genomic research. It is from this strong experiential base that they have developed capabilities, tools and techniques to support research that permits the earlier detection of diseases and cures based on genetics. Empire Genomics has grown beyond its current capacity and, as a result, will be investing $2.85 million to create a new corporate headquarters in the heart of the city’s life sciences corridor on the Buffalo Niagara Medical Campus. The company will retain its current staff of eight employees and create an additional 31 positions over the next 3 years. The expansion will allow the company to streamline current operations in order to meet growing demand. Certified in the Buffalo Empire Zone, Empire Genomics will receive a $400,000 Upstate Regional Blueprint convertible loan.