IMA Group in Italy Receives Tax Incentives for Tonawanda Expansion, Eyes Continued Expansion

30 Sep, 2023

IMA Group in Italy Receives Tax Incentives for Tonawanda Expansion, Eyes Continued Expansion

Executives from Italy's IMA Group have emphasized the high quality of the workforce in Western New York, particularly in production and engineering, as a key factor behind the company's significant expansion of its Tonawanda operations and the consolidation of its North American corporate headquarters in the region. The company is now exploring further opportunities to expand its business in Buffalo.

Ernesto Renzi, President and Director of Sales for IMA Life North America, expressed confidence in the region, stating, "We are in a good industry, and we feel we can be successful and we can increase our presence here in Buffalo a little bit. It’s the people in production and engineering now that have made the difference. The skill and the working ethics of the people here in Western New York has been outstanding."

This positive outlook is reflected in the Erie County Industrial Development Agency's approval of $3.2 million in tax savings for the company's expansion project. Town of Tonawanda Supervisor Joseph Emminger, an ECIDA board member, expressed wholehearted support for the project, emphasizing its significance to the local community.

IMA, headquartered in Bologna, specializes in manufacturing freeze-drying equipment for the global pharmaceutical industry. The company is making a substantial investment of $27.6 million to construct a second manufacturing and office facility in Western New York. This expansion will take place in the Colvin Woods Business Park on a 15-acre vacant parcel.

The new facility, located at 700 Colvin Woods Parkway, will comprise 30,000 square feet of office space and 50,000 square feet of production space. It will include a development laboratory, three production bays, and warehouse space for various operations related to freeze dryers, such as development, assembly, testing, and shipping.

Ernesto Renzi underlined the importance of keeping the business in the area, citing the skilled workforce as a vital asset. The facility will also house corporate office space for IMA's six other U.S. operations, streamlining the headquarters for all the company's divisions.

Upon completion by Montante Construction, around 120 current employees in Tonawanda will relocate to the new facility, with 34 remaining at the existing Military Road location. Additionally, IMA plans to hire 30 new full-time workers, bringing the total workforce to 150. The average salaries for retained employees will be $82,705, while new positions will have average salaries of $72,293.