Empire State Development (ESD) announced that technology and logistics firm, Founders Holding Co., and its subsidiaries are planning to expand their current facility on East Amherst Street in the City of Buffalo and would create up to 148 new jobs over the next ten years. The project would receive up to $1.5 million from ESD based on actual job creation through the Excelsior Tax Credit Program in exchange for continued job creation commitments over the next decade.
Kevin Younis, ESD Chief Operating Officer and Executive Deputy Commissioner said, “Founders Holding Co.’s expansion reflects its commitment to Buffalo’s East Side and supports New York State’s strategic plan to encourage business growth in the area. The tech and logistic company’s investment is a win, both for Western New York job seekers in search of better opportunities and for the Erie County economy.”
Founders Holding Co. — ranked on Inc. Magazine’s list of America’s 5000 fastest growing private companies in 2020 and 2021 — is a holding company that acquires, partners, and works with companies in the transportation, logistics, e-commerce, and technology sectors. The company has four operating divisions: Founders Logistics, the firm’s newest venture that was launched to take advantage of the unprecedented growth of e-commerce distribution services; Founders Mobility, one of the largest health and human service transportation providers in New York State; Founders Software, a leading developer of innovative SaaS technologies in the US; and Founders Gateway, a provider of leading-edge back office shared services, including accounting, HR, IT, and operations.
Paul Snyder IV, President of Founders Holding Co. said, “For over 10 years, the City of Buffalo has proven to be an ideal home for Founders Holding Co., and we are very proud to be a part of the area’s legacy of growth and transformation. It is wonderful that New York State and Governor Hochul share our commitment to creating economic opportunities in this often underserved and overlooked neighborhood, and we are incredibly grateful for their support and enthusiasm as we expand.”
Founders Logistics anticipates investing more than $28 million over the next five years to acquire and expand its holdings as an e-commerce Independent Service Provider (IPS). Funds would be used to grow market share, acquire vehicles, make capital improvements to its headquarters located at 401 E. Amherst Street in Buffalo, and develop logistics software for the industry.
The acquisitions by Founders Logistics are part of a larger strategic plan to expand across North America while centralizing the firm’s operations in Buffalo. These operations, including the servicing, fueling, recruitment, training, and back-office functions are operated from Founder’s distribution and servicing center located on the East Side of Buffalo.
Founders Holding Co. has spent the last decade working to provide meaningful employment opportunities and job training for communities that are often described as underemployed, underrepresented, and impoverished. Founders works closely with local public and private sector stakeholders to recruit employees from programs such as PIVOT, which match temporary assistance clients seeking employment to companies looking to fill full-time positions.
In addition to employment opportunities, Founders Holding Co. has a history of promoting within, providing opportunities for employees to move from living-wage jobs to supervisory and managerial jobs. These efforts are supported by management training, and business fundamentals training to provide a skill set that is transferable beyond the work being done for Founders Logistics.
Senator Tim Kennedy said, “As we Build Back Better in New York, Founders Holding Co. is demonstrating a strong commitment to growth and job creation here in Buffalo, and that investment will continue to fuel our local economy and workforce. I’m excited to see this strategic expansion unfold in the heart of Buffalo with support from New York State.”
Assembly Majority Leader Crystal Peoples-Stokes said, “New York State is committed to strategically investing in companies like Founders Holding Co., that can spur job creation and economic opportunities on Buffalo’s East Side and in Greater Western New York. I applaud Governor Hochul’s leadership and investment in WNY economy through the Excelsior Tax Credit Program.”
Mayor Byron Brown said, “The increased commitment by Buffalo-based Founders Holding Co. complements my administration’s efforts to attract additional investment and add jobs to Buffalo’s east side neighborhoods. Founders pledge to invest $28 million to grow its E. Amherst Street headquarters, add 148 new jobs and continue its growth in the transportation, logistics, and technology sectors, is a win for Buffalo’s east side. I thank Governor Kathy Hochul and Empire State Development for their continued assistance to companies looking to grow and thrive in the City of Buffalo.”
County Executive Mark Poloncarz said, “Founders Holding Co. is showing its commitment to Erie County with this expansion and announcement that they anticipate creating 148 jobs over the next ten years, building our workforce and showing once again why our community is a great place to do business. We welcome this news and look forward to the next ten years of growth.”
