Business

(WNY News Now) Senator Kirsten Gillibrand announced the allocation of $1.5 billion in funding to GlobalFoundries, bolstering Upstate New York's status as a worldwide manufacturing base and providing a major boost to the U.S. semiconductor industry.Washington, D.C.The allocation of $1.5 billion in CHIPS and Science Act funding for GlobalFoundries, a prominent semiconductor manufacturer, was celebrated yesterday by U.S. Senator Kirsten Gillibrand. GlobalFoundries will be able to build a new, cutting-edge plant in Malta, New York, and expand its current chip manufacturing facility thanks to the funds.According to Senator Gillibrand, the Capital Region has made a name for itself as a leader in the world of chip production, and this $1.5 billion in financing from the CHIPS Act will solidify the...

(WNY News Now) Wells Enterprises' $425 million expansion in Dunkirk will provide cutting-edge ice cream production capabilities, bolstering the company's growth in the U.S. market and adding 270 new employment.DUNKIRK The Board of Directors of the County of Chautauqua Industrial Development Agency (CCIDA) authorized incentives for Wells Enterprises, Inc. at its meeting on November 19, 2024. The incentives, which include a Sales Tax Exemption and a Payment In Lieu of Taxes (PILOT) arrangement, will help the business build its new, cutting-edge facility in Dunkirk. For the corporation, this most recent phase of CCIDA incentives (Phase III) comes after two earlier waves (Phase I in 2019 and Phase II in 2023). All three phases work together to help Wells retain about 380 full-time employment w...

(WNY News Now) – New York State achieves record-breaking 32.21% minority- and women-owned business utilization rate, awarding nearly $3 billion in public contracts in FY 2023-24.Albany, N.Y. – Governor Kathy Hochul announced yesterday that New York State has exceeded its 30% utilization goal for Minority- and Women-Owned Business Enterprises (MWBEs) for the fourth consecutive year. The state’s MWBE utilization rate reached an impressive 32.21% in Fiscal Year 2023-24, translating to nearly $3 billion in public contracts awarded to certified MWBEs, and nearly $12 billion since Governor Hochul took office.“Since becoming Governor, my administration has championed an economic agenda that benefits all New Yorkers, and this year’s utilization rate shows the progress we have made toward achieving...

(WNY News Now) – Businesses in Chautauqua County are urged to stay vigilant as a recent scam targets advertisers, posing as representatives of the Chautauqua County Relocation Guide.Chautauqua County, N.Y. – The County of Chautauqua Industrial Development Agency (CCIDA) issued a warning about a scam targeting local businesses. Reports indicate that an individual has been contacting businesses in Chautauqua County, falsely claiming to represent the Chautauqua County Relocation Guide—a publication produced by CCIDA and the Chautauqua County Partnership for Economic Growth.The caller, who uses an unlisted number, reportedly poses as a sales representative and solicits funds, claiming they are for advertisements in the relocation guide. However, CCIDA officials clarified that the official Chau...

(WNY News Now) – The Naz716 Business & Cultural Center celebrated its grand re-opening, marking a pivotal moment for community empowerment and cultural engagement in Niagara Falls.Niagara Falls, NY – Naz716 Business & Cultural Center hosted its grand re-opening ceremony, bringing together local leaders, business partners, vendors, and community members to celebrate the center’s revitalization. The event marked a significant moment for Naz716 as it continues to serve as a hub for entrepreneurship, cultural engagement, and community development in Niagara Falls.The event opened with remarks from Anas Mangla, co-owner of Naz716, and Nasreen Akhtar, CEO and President, who expressed their gratitude to the Niagara Falls community for their ongoing support. They outlined the future vision...