NIAGARA FALLS, N.Y. — Generating business growth in downtown Niagara Falls has proven to be a challenge for years.
A state agency charged with job creation has adopted a unique approach, even by Western New York standards.
The state-run USA Niagara Development Corp. gave Buffalo-based T.M. Montante Development four properties valued at nearly $1 million in the city’s Third Street business district.
Now, as the company plans to renovate and reopen two Third Street buildings— one as a small event center and the other as a brewery and restaurant— state and county economic development officials are preparing to sweeten the pot with $1.7 million in tax breaks, credits and grants.
What do taxpayers get in exchange for the $2.65 million subsidy package?
Montante has committed to creating 14 full-time jobs, mostly in food service and event center management, at a total public cost of $189,785 per job.