Incentives: NYPA ReCharge, Empire State Development Excelsior Jobs Program, and Cattaraugus County IDA sales tax abatement
Cimolai is a worldwide designer, supplier, and builder of complex steel structures including bridges, stadiums, utility structures, and more. The company has worked on the new Allegiant Stadium in Las Vegas, the Hans Wilsdorf Bridge in Switzerland, and more. The company was founded in 1949 and grew exponentially in a post-war, industrialization era.
In an effort to increase its global footprint, Cimolai was interested in the Western New York region and specifically the former Dresser Rand/Siemens facility in Olean, New York. That specific facility had recently been vacated and was a priority for regional economic developers to get back into use.
In August 2022, Invest Buffalo Niagara was introduced to the Cimolai team and potential project in Western New York. InBN made connections to local accounting firms and potential incentive providers, managing the process and timelines throughout. InBN also provided regional wage and compensation data to the project team as workforce considerations began. Though Cimolai agreed to purchase the 88-acre site in Olean, New York in November of 2022, the project still needed to clear several operational hurdles, including legislative and incentive approval. After significant work, necessary approvals were granted in January of 2023 and the project was green-lit.
Cimolai has acquired the former Dresser Rand/Siemens 88-acre facility, putting it back to use within the region. The company plans to hire 250 employees and invest $56 million. The project was approved for Empire State Development’s Excelsior Jobs Program, New York Power Authority’s ReCharge program, and sales tax abatements from the Cattaraugus County Industrial Development Agency. Hiring and equipment installation has already begun at Cimolai’s new facility in Western New York.