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Buffalo Tungsten expands, 2 local insurance companies rank nationally, Profits soar at Astronics, Olive Tree gets tax breaks and former Pitt Pitri store gets tenant

From Business Today:

Buffalo Tungsten, a Depew manufacturing company which makes tungsten and tungsten carbide powders, is looking to add jobs and invest money. The company said it will add up to 45 jobs as it invests $19 million into a renovation of its facility on Main Street. The company will hire plant workers, technicians and engineers.


Two local companies made the top 50 ranking for insurance brokers in a list compiled by Business Insurance Magazine. First Niagara Risk Management ranked as the 47th largest insurance company in the nation. Buffalo-based Lawley Service Group rose seven spots from last year to number 50.


Strong demand for its cabin electronics and aircraft lighting equipment fueled an 87
percent surge
in Astronics Corp.'s second-quarter profits, the East Aurora-based company said Tuesday. Astronics earned $4.5 million, or 39 cents per share, up from $2.4 million, or 22 cents per share, a year ago. The company's sales grew to $55.5 million from $47.1 million.


The Olive Tree Family Restaurant will get tax breaks from the Lancaster Industrial Development Agency. The restaurant is investing $900,000 into expanding its waiting area and dining room and will hire 10 new full-time workers. The Lancaster IDA normally does not approve tax breaks for restaurants, but this one is situated within the town's enhancement zone. It will receive sales tax exemptions as well as mortgage tax and property tax abatements.


Blum Swimwear is taking over the former Pitt Petri store on Main Street in Williamsville. Blum's Swimwear and Intimate Apparel is currently located in Amherst's Walker Center.  


 Who is getting hired, promoted and honored?


Do you think this insurance agency would make the Top 50?




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