Solstice Advanced Materials plans to expand research and development facility in New York
Solstice Advanced Materials plans to expand its research and development facility in Buffalo, N.Y. The company, which produces specialty materials for refrigeration, foam insulation, aerosols, energy storage and semiconductor manufacturing, will invest $49 million in the project. It also plans to create 12 new jobs, adding to its existing 180-person Buffalo workforce.
The project will involve constructing, renovating and equipping the company's Peabody Street facility to expand its research and development capabilities in advanced materials and chemical processes.
Empire State Development will provide up to $1.4 million through the performance-based Excelsior Jobs Tax Credit Program to support the project.
Solstice expansion to strengthen research and development capabilities in Buffalo
“This investment will accelerate the innovation our customers and critical industries depend on while creating new opportunities for growth in Buffalo,” said Solstice Advanced Materials US, Inc. senior director for R&D Ryan Hulse in an October press release. “By expanding our R&D capabilities here, we are strengthening our proven hub in Buffalo for advancing next-generation solutions from lab to market, where they help solve real-world challenges and support end markets that drive jobs and investment.”
“New York continues to be a magnet for the industries of tomorrow, and Solstice’s decision to anchor its premier R&D facility right here in Buffalo proves that our economic strategy is working,” Governor Kathy Hochul said. “This $49 million investment will create good-paying jobs, foster cutting-edge research and keep New York at the forefront of the green technology revolution.”
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