Baking

Niacet Seeks Funding for Niagara Falls Expansion

NIAGARA FALLS, NY. – Niacet Corp., which was acquired last summer by Kerry Group, is considering a $48.75 million expansion of its manufacturing plant in Niagara Falls, according to documents filed with the county’s Industrial Development Agency of Niagara.

“This specific project is a new production process using a new proprietary liquid drying technology (NxDT) to more efficiently produce acetate and propionate salt preservatives,” Niacet said in its tax abatement application. of sale. “These salts would then be coated or mixed with various compounds such as acids, oils, and anti-caking agents to give them secondary functionality in addition to their inherent preservative qualities.”

Niacet said the expansion will include a 25,000 to 35,000 square foot factory at its current site in Niagara Falls, as well as a capital investment of $48.75 million. A total of 51 jobs are expected to be created as part of the expansion.

The company currently operates 18 buildings at the Niagara Falls site totaling 125,000 square feet. The company has 102 employees on site.

Niacet is seeking more than $1.5 million in sales and property tax breaks from NCIDA to facilitate the plant’s expansion, funds the company says are needed to move the project forward.

The NCIDA board of directors gave interim approval to the application on May 11, and a public hearing has been scheduled.

Niacet was approved last year for a $13.25 million project to add 3,500 square feet of space to the south end of its property in Niagara Falls to install new chemical processing equipment to produce anhydrous hydrogen chloride, a chemical used in semiconductors, pharmaceuticals and technical industries. This project, however, was delayed due to the COVID-19 pandemic and the NCIDA Board of Directors used the May 11 meeting to extend the incentive program by six months to give the company more time to complete the project.