Triad Recycling and Energy Corp. is close to receiving $150,000 from an economic development fund to support its expansion in the Town of Tonawanda.
The Western New York Power Proceeds Allocation Board on Tuesday recommended awarding the funds. The New York Power Authority board makes the final decision.
Triad plans to renovate a vacant building and expand its operations to process scrap plastics and woods. The company estimates the $1 million project will add three full-time jobs.
Triad had requested $300,000 from the fund, which uses money raised by the sale of unallocated hydropower from the Niagara Power Project.