A pair of Buffalo Niagara region manufacturers that promise to create 33 new jobs and invest more than $6 million in their local operations received grants of low-cost hydropower Tuesday from the New York Power Authority.
Isochem, a Lockport industrial chemical manufacturer, was granted 300 kilowatts of expansion power as part of a$2 million expansion project that is expected to create three new jobs.
The company, which now employs 93 people, believes the low-cost electricity will help the Lockport factory win projects from a sister facility in Hungary, where fixed costs are substantially lower, NYPA said.
The power authority also reduced its previously approved allocation of cheap hydropower to MoldTech after the Lancaster manufacturer of injection-molded rubber products scrapped an earlier plan to move to a new facility in Amherst in favor of doubling the capacity of its existing plant.
Although the power authority had approved an allocation of 400 kilowatts for MoldTech in February, the agency reduced that allocation to 250 kilowatts on Tuesday because expanding in Lancaster will result in less electricity being used than under the scrapped Amherst plan.
MoldTech's $4.3 million expansion, which includes building improvements and additional manufacturing space, is expected to result in the creation of 30 new jobs at the company, which now employs 45 people.
MoldTech, which makes gaskets, seals and medical masks for the automotive, medical, electrical, agricultural and defense industries, said it expects sales to grow by as much as 50 percent this year.