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Amherst financial services firm in line to receive extra $30,000 in tax breaks

Strategic Financial Solutions is spending more than it expected to build out its Amherst office space and is in line to receive an extra $30,000 in tax breaks, according to the Amherst Industrial Development Agency.

The Manhattan-based financial services firm 18 months ago announced it would hire up to 1,500 workers within five years in space on Lawrence Bell Drive. Strategic Financial Solutions has 283 employees in Amherst now, the company told the IDA.

The company planned to spend $20 million, including construction and employee training costs, with $750,000 initially to build out 20,000 square feet for 300 employees.

It now expects to spend $1.1 million on equipment and construction in that first phase, and the IDA board of directors on Friday could vote to boost the sales tax break for the project to $96,250 from the original $65,625.

 

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