The Western New York Power Proceeds Allocation Board (WNYPPAB) today voted to recommend $150,000 in funding to Quorum Group, LLC dba Takeform Architectural Graphics. Quorum is a manufacturer of graphic design products including signage, dimensional letters, logos, free-standing kiosks, donor recognition and interior wall accessories. It is also a fully staffed experiential graphic firm providing design and way finding (navigation) services. The funding would pay for a portion of costs associated with its Medina expansion project. WNYPPAB’s recommendation is expected to be considered by the New York Power Authority Board of Trustees at a future date.
“The funding recommendation today contributes to an expansion that will add dozens of local jobs and bolster the graphic design industry in our region,” said Western New York Power Proceeds Allocation Board Chairman Anthony J. Colucci III. “We continue to welcome additional applications for funding awards, especially those that create new job opportunities in the region.”
Details on the project recommended today by the Western New York Power Proceeds Allocation Board include:
Quorum, LLC
Recommended Award Amount: $150,000
Quorum will use WNYPPAB recommended funding to support efforts to expand its Medina facility by adding approximately 15,000 square feet of space, machinery and equipment and furniture and fixtures to accommodate new production capabilities and business growth. The project is anticipated to retain 14 jobs and create 50 positions at the project site and cost approximately $2.6 million.
The latest recommendations for Proceeds awards stem from legislation signed into law by Governor Cuomo, known as the Western New York Power Proceeds Allocation Act. The legislation authorizes net earnings from the sale of unused hydropower from NYPA’s Niagara Power Project to be deposited into the Western New York Economic Development Fund (Fund) to support economic development in Western New York. The Fund has accrued approximately $41 million to date. Approximately $35 million from that amount has been approved for awards by the NYPA Trustees on the basis of earlier recommendations by the proceeds Allocation Board. These earnings are designated to spur capital investments and job growth.
The Western New York Power Proceeds Allocation Board reviewed the Quorum application for fund proceeds in accordance with requirements of the act. For example, eligible projects must be located within a 30-mile radius of NYPA’s Niagara Power Project. The Allocation Board also considers the extent to which an award would be consistent with the strategies and priorities of the area New York regional economic development council. Contracts with awardees will include provisions for periodic audits to ensure that the funds are utilized for agreed-upon purposes. Some projects are subject to legal requirements that must be satisfied before an award of Fund proceeds can be made.
The power proceeds board is comprised of the following members, appointed by Governor Cuomo: Chairman Anthony Colucci III, managing attorney of the law firm of Colucci & Gallaher in Buffalo; Deanna Alterio Brennan, vice president of social enterprise for the YWCA; Brenda Williams McDuffie, president of the Buffalo Urban League; and Dennis W. Elsenbeck, head of energy and sustainability, energy consulting service for Phillips Lytle, LLP.
Contact:
Pamm Lent (Governor’s Office) | [email protected] | (716) 846-8309
Ashley Cannon (ESD) | [email protected] | (716) 846-8239