Ryerson Holding Corp., metal processing and distribution company of industrial metals, will renovate its Lancaster facility, allowing it to double its workforce at the plant. Ryerson is investing $1.5 million in the renovation project that will add 25 new, full-time permanent employees and retain 29 existing, full-time permanent employees.
“New York State takes pride in companies like Ryerson: an equal opportunity employer committed to growth and continuous improvement in delivering quality products and excellent customer experiences,” said Hope Knight, Empire State Development Acting Commissioner and President & CEO-designate. “The Excelsior Jobs Program was devised to attract and retain companies like Ryerson and help them to expand their operations, and we are pleased to help the company play a role in the WNY’s economic future.”
Ryerson operates out of approximately 100 locations across the United States, Canada, Mexico, and China. This project will facilitate the consolidation of a plant currently located outside of New York State into the 3915 Walden Avenue facility and will include the relocation and installation of manufacturing equipment, building renovations, and office space improvements. The project is expected to be complete by the end of 2022.
ESD’s Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. To encourage Ryerson’s investment, ESD is providing Ryerson up to $244,000 in New York State Excelsior Jobs Tax Credits in exchange for creating 25 new jobs.
“ESD has provided Ryerson with valuable incentives allowing our company to maintain its commitment to growth in New York State,” said Matt Propis, General Manager for the Northeast Market. “After spending nearly 115 years in the state, Ryerson is proud to be able to expand our presence here and provide new manufacturing jobs.”
More information about Ryerson can be found here.
Senator Patrick Gallivan said, “I congratulate Reyerson Holding Corporation on its expansion and thank company leaders for their investment in Lancaster and WNY. This type of economic development in which existing jobs are maintained and new ones are created sends a positive message about our community and the local workforce.”
Assemblymember Monica Wallace said, “Ryerson Holding Corporation’s investment in its Lancaster facility will be a boon for our community and will help fuel the resurgence of the greater Buffalo economy. I thank Empire State Development and Governor Hochul for utilizing the Excelsior Jobs Program to create dozens of new jobs in Lancaster, and I commend Ryerson for renewing its commitment to Western New York.”
Erie County Executive Mark Poloncarz said, “Ryerson’s decision to invest and grow in Lancaster is great news for Erie County and shows once again that our economic climate is desirable for business. This investment creates over two dozen new jobs, retains existing ones, and improves Ryerson’s facilities. Thanks to them and to ESD for making this new phase of growth possible.”
About Empire State Development
Empire State Development (ESD) is New York’s chief economic development agency. The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing Governor Kathy Hochul’s Regional Economic Development Councils and the marketing of “I LOVE NY” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.
Contact:
Pamm Lent
pamm.lent@esd.ny.gov
(716) 846-8309
(716) 560-8815
Laura Magee
laura.magee@esd.ny.gov
(716) 846-8239
(716) 374-4246
