Campus Labs, the Buffalo start-up that provides data analysis software services to more than 800 college campuses, is getting $400,000 in cash from the New York Power Authority to move its Buffalo offices to bigger space at 298 Main St. as part of an expansion that could add 75 new jobs over the next five years.
The company, which was acquired by Manhattan private-equity firm Leeds Equity Partners in a $91 million deal in October 2015, has increased its revenues by an average of about 21 percent a year since 2012 and has outgrown its current space on Ellicott Street.
The $4.1 million project to move into the White Building at 298 Main St. will allow Campus Labs to move into more efficient space, while also providing a key commercial tenant on the lower portion of Main Street.
Campus Labs also is eligible to receive up to $2 million in Excelsior Jobs Program tax credits from Empire State Development, if it meets its hiring and investment targets.
The Power Authority also is giving $90,000 to Post Process Technologies, a Buffalo company that has developed high-frequency surface machines, detergents, abrasives and polishers to automate the finishing of 3-D printed parts.
The funding will help the company buy demonstration equipment for a training and benchmarking lab at its facility at 1170 Main St. . The $602,000 project will lead to the creation of nine new jobs, while retaining 12 existing positions.
The funding comes from an economic development fund overseen by the Power Authority and funded by the proceeds from the sale of unallocated hydropower from the Niagara Power Project.