The Town of Lockport Industrial Development Agency on Thursday approved a 15-year tax break package for Custom Laser, which will build a plant in the town industrial park off Upper Mountain Road.
The company would save an estimated $1.1 million over 15 years on taxes on its new $8 million plant, to be built just north of its current plant in the industrial park. Custom Laser is buying a 6.83-acre lot from the town IDA for $20,000 an acre, or $136,600, town Economic Development Coordinator Marc R. Smith said.
Custom Laser, a machine, cutting and fabrication company with 53 employees, also operates a plant on Akron Road in Lockport.
The company promises to create at least five jobs in the new 60,100-square-foot plant.