Albany has agreed to provide $10 million worth of performance based incentives to help Praxair expand and modernize its Town of Tonawanda facility. Praxair, the largest industrial gases company in North and South America, had worldwide sales last year of $12 billion."And make no mistake, they made it clear to us, when they came to us, that they are considering options in various parts of the country. They made it clear too, that they're number one choice is to remain in western New York where they've been a great corporate citizen for a long long time" said, Sam Hoyt, Regional President of Empire State Development Corporation.
In exchange for the incentives, Praxair plans to invest $38.7 million in its Technology Center just off of Sheridan Drive. Hoyt said, the project will help preserve 1,100 high-paying jobs and create 22 new positions. And he said, taxpayers are protected.
"Praxair will only receive those benefits if they meet the thresholds on the projected jobs that they've put in their agreement with us."
In March, New York state provided Praxair with a $1 million grant to expand its facility in Niagara Falls - which employs about 80 people. The company did not respond to a request for an interview.