A visual effects and animation company that plans to partner with Daemen College on a venture that could bring 150 jobs to Buffalo within five years was formally granted the $4.5 million in aid that the state promised back in July.
Empire State Development on Tuesday approved $2.5 million for Empire Visual Effects and a separate $1.98 million grant for Daemen College as part of the promised funding for the venture.
Empire Visual’s grant will reimburse the company for its capital spending associated with the project. Daemen’s grant will cover some of the expenses related to hardware, software, a screening room and furnishings as it upgrades its facilities to accommodate a new training program for the post-production visual effects hub.
The state economic development agency also approved $3 million for Welded Tube, the Canadian company that opened a new steel tubing factory on the former Bethlehem Steel site in Lackawanna this summer. The company also is receiving $2 million in tax credits through the Excelsior Jobs Program.
Empire State Development also approved a $150,000 grant for Quorum Group, an Orleans County manufacturer of graphic design products, that will use the funds to cover a portion of its building acquisition and renovation expenses associated with an expansion project that will double the size of its manufacturing facility.