Robinson Home Products, Amherst-based maker of kitchen tools, plans to buy its leased warehouse and factory on Bailey Avenue.
The company has agreed to acquire the 202,000-square-foot facility at 500 Bailey Ave. as part of a plan to meet rising demand in an industry that is expected to grow twice as fast as the overall economy in the next decade.
Robinson Home Products has been leasing the Bailey facility at a discounted rate, but that lease expired at the end of last year, and the company says it can save money by buying the building rather than leasing it. On Wednesday, it got approval for a $1.6 million loan through the Regional Development Corp. affiliate of the Erie County Industrial Development Agency. That 10-year loan, with a 4 percent interest rate, is part of a package that includes a $5.6 million loan from First Niagara Bank.
The employee-owned company has 110 workers at its Buffalo site, and at an office in Williamsville and a showroom in New York City.