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Lockport Business Opportunities

In This Issue
Hillman Automotive to Expand
Jim's SteakOut Stakes Out New Location
Retail Sales Update
Lockport School District Approves Tax Abatement
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HILLMAN AUTOMOTIVE TO EXPAND 
 
Hillman Auto
  Hillman Automotive
 
Hillman Automotive, an AAA-affiliated automotive repair shop, will expand its current Dysinger Road (NY 93) site by constructing a new 10,320 square foot center on the former site of Kitchen World, also on Dysinger Road, approximately mile east of Transit Road (NY 78).  A spring, 2010 construction start is expected.
 
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December 2009

Dear Colleague,                                             
 
Welcome to  the next edition of
Lockport Business Opportunities!  We are pleased to provide you with information about recent business developments in the Lockport area as well as identify opportunities for investment in our community!
Jim's SteakOut Stakes Out New Location in Lockport 
 
Jim's SteakOut is in the process of renovating the former Starbuck's location on Lockport's Transit Road Corridor for one of its fast food sandwich restaurants. Jim's SteakOut, which is headquartered in Buffalo, currently operates nine other locations in Western New York. The Transit Road location will be the first outlet in Niagara County for Jim's.

RETAIL SALES UPDATE  

Transit North Logo

Lockport has retained Economic Stewardship, Inc. to provide updated retail market data for the Transit North Corridor. The Maine-based consultants will be analyzing retail market trends in Lockport, Niagara and the Buffalo region by examining retail sales data, development and leasing of retail properties as well as the "leakage" of retail dollars from Lockport-area residents to other locations. This information will then be used to make preliminary projections of retail space absorption, property valuation, sales and sales tax revenues in the Transit North Corridor. The data will be incorporated into the marketing strategy for Transit North.

Lockport School District

Offers Tax Abatement 
 
The Lockport City School District's Board of Education this month approved an incentive to provide a graduated abatement on school taxes for new and expanding businesses that add assessed value to their property. The provision, Section 485B of the Real Property Tax Law, also known as the Business Investment Exemption Program, was presented by the Town of Lockport Economic Development Department earlier in the year. As a result, businesses building $10,000 or more of facilities or additions to their current facilities may qualify for a partial reduction in assessment of up to 50% of the increase in assessed value, with the abatement declining over a 10-year period of time. The abatement will apply to county and school property taxes; the Town of Lockport has no general town tax.  CLICK HERE to learn more about the Business Investment Exemption Program. 
UPDATES FROM OUR LAST ISSUE: 
 

Metro Mattress

New Home for Metro Mattress - site preparation work is underway on Transit Road for the construction of the enlarged facilities for Metro Mattress' Lockport store. The new building will also house a Safelite Auto Glass store.
 
 Yahoo Progress Dec2009
 
Yahoo Progress
- work continues to move along quickly on the construction of the Yahoo datacenter in the Lockport Industrial Park. Construction of the louvers on the first data wing is displayed in the photo above, while work is proceeding on steel erection for the two other data wings on the west side of the administration building.
"Lockport Business Opportunities" is a publication of the Town of Lockport regarding business development in the Town of Lockport. Visit our website, www.lockportida.com, for information regarding the 400- acre Lockport Industrial Park. Transit North, our 6-mile commercial corridor, is profiled on www.elockport.com
 
Additional information regarding business opportunities in the Town of Lockport may be obtained by visiting www.lockportida.com or by calling 716-439-9535
 
 
Marc Smith                       David Kinyon       
Town of Lockport                                 Town of
Supervisor                                           Lockport IDA