The Erie County Industrial Development Agency (ECIDA) could be Cobblestone-bound. A move to 95 Perry Street is on the ECIDA’s board agenda on Tuesday. The agency would sublease 6,143 sq.ft. of space from Empire State Development Corporation (ESD) and have access to ESD’s common space including lunch room, bathrooms and meeting facilities. Co-locating with the State agency is expected to help improve the local economic development delivery system.
Empire State Development, Erie Canal Harbor Development Corporation and the New York Power Authority occupy space on 95 Perry’s fourth and fifth floors. ESD’s 10 year lease with property owner Savarino Companies expires in September 2018.
The ECIDA would lease out its current offices at 143 Genesee Street at the corner of Oak Street, a building owned by the agency. Leasing out its current facility and subleasing at 95 Perry is expected to cost the agency an additional $4,099 annually. The Buffalo Urban Development Corporation (BUDC) and Binational Economic Alliance (BEA) are also considering the move from Genesee to Perry Street. The two additional agencies would take an additional 2,461 of space in the building.
By co-locating, the ECIDA and its co-tenants would be part of a “critical mass” of local economic development organizations located on the top floors of 95 Perry and connected via a shared stair case. This would enable businesses to access economic development services at one location and is anticipated to lead to improved communication and cooperation between the agencies.