(12:35 PM) IDA Approves PILOT, Al Tech Loan For New Building Construction
Instead of having three different business locations, a local company will be building a new facility in the Mason Industrial Park that will house all of its assets under one roof.
On Tuesday, Dean Weaver of The Stannard Group Inc. spoke with the Chautauqua County Industrial Development Agency board about how his company wants to build a new facility so his businesses, Weaver Materiel Services and Naco Express, can be housed at one location. Weaver said the business is currently using three locations, which includes leasing space from Artone, owning a building at 204 Fourth St. and at 850 Allen St.
Mark Geise, deputy Chautauqua County executive for economic development, said Weaver had been looking for a couple years for space to house all of the company’s assets, but finally decided the best option was to build a new facility. He said the building will be 26,000 square feet and is a $2.885 million project.
To help facilitate the construction of the new building, Geise said the IDA will be offering a 15-year payment in lieu of taxes agreement; sales and mortgage tax abatement; and a $500,000 Al Tech Revolving Loan for the project. Geise said Weaver’s company will save $924,000 from the IDA benefits, but will have more than a $50 million economic impact on the local community during the next 15 years by keeping the business in the county.
Geise said 36 jobs will be retained and three new ones will be created once the new building has been constructed. Weaver said if everything is approved, construction on the new facility could start in June, with an estimated build time of nine months. He said Kessel Construction of Bradford, Pa., will be leading the new building project that will be located along Industrie Drive in the Mason Indurstial Park in the town of Ellicott.
Weaver said he wants to sell the two buildings he owns, with one verbal agreement already being made on the Naco location along Allen Street. He said that the company could have potentially located to the Pittsburgh, Pa., area where his son, Drew, lives, but he wanted to keep the company in the area. He added that he wanted to stay along Allen Street where the business has a lot of customers.
Also, he wanted stay near Interstate 86.
Weaver Material Services was started by his grandfather, Fred Weaver, in 1944, which moved to Jamestown in 1952, Weaver said. He said the business bought its Fourth Street location in 1986 and purchased Naco in 2014.