A local concrete company is expanding into the storage business, looking for some help getting its first units off the ground.
Michael Ventry’s new business, Ventry Development and Rentals, wants to build four 10-bay storage buildings, each with 12,000 square feet of total space, in the Town of Niagara. They would be placed on a 6.2-acre parcel that Ventry’s other company, Ventry Concrete, owns and operates out of at 3214 Haseley Drive.
The units would be used by local contractors and businesses operating from their homes, looking for storage, something Ventry has said is in demand in Niagara County.
“Most of the areas are already rented out, so there’s a demand for it,” Ventry said.
The $2.56 million project built by DEL Resource is looking for $1.69 million worth of tax incentives from the Niagara County Industrial Development Agency, made up of $1.56 million of property tax exemptions, $120,000 in sales tax exemptions, and $7,500 in mortgage recording tax exemptions. It projects to create 61 full-time equivalent jobs, with 41 full-time jobs and 80 part-time jobs.
The project has already received state DEC approval regarding wetland mappings.
Listed funding sources include $1.56 million in equity and $1 million in bank financing. Listed project costs include $1.8 million in construction, $600,000 in equipment purchases, $100,000 in site work, and $60,000 in other soft costs.
A public hearing for the tax incentives will be on June 30 at the Niagara Town Hall.