When Buffalo’s Northland Corridor first opened, it was obvious that there was a new day for our local industry-driven workforce. What was not so obvious was the Corridor’s ability to attract businesses from far flung parts across the country. But that is exactly what has happened, as ReTech Systems, the world’s leading supplier of electron beam and plasma cold hearth furnaces, now plans to relocate its corporate headquarters from Ukiah, California to 683 Northland Avenue. The corporation, founded in 1963, has signed up for nearly 49,000 square feet of space at the facility, where it will set up its research, development, and manufacturing facility to produce high-tech titanium-melting furnaces.
“ReTech’s decision to set up headquarters and manufacturing at 683 Northland marks another major milestone for the Northland Corridor Redevelopment Project. ReTech’s commitment to Northland Central will not only bring a world-class, high-tech manufacturing sector that is brand new to Buffalo and Western New York, ReTech’s lease of nearly 49,000 square feet of space means Northland Central will be over 90 percent occupied,” Mayor Brown said.
As part of relocating it headquarters to Northland, ReTech Systems has committed to creating 80 new jobs.
ReTech currently employees 12 staffers at a sales and customer service office located at 6309 Main St. in Williamsville.
“Retech Systems is very excited to be moving its headquarters to Buffalo. Our company has many customers on the east coast, and being in the Western New York area gives us the ability to provide excellent regional support to those customers,” said Earl Good, ReTech Systems President and Managing Director. “This location also gives us the ability to build our staff with additional quality employees from the engineering and technology schools in the area.”
An initial 10.5 year lease was approved at a recent Buffalo Urban Development Corporation (BUDC) meeting. ReTech will pay an annual lease of $282,000 for the first three years, which will then escalate to the point of paying $335,872 its final lease year. Five year lease extension options are also in place, that could extend the agreement 20 years.
In 2011, Retech became a wholly-owned subsidiary of the European-based SECO/Warwick group of companies.
“This Retech announcement follows closely on the heels of the very successful opening of the Albright Knox Art Gallery satellite facility at 612 Northland, which was attended by 1,200 people in one week,” said BUDC President Peter Cammarata, who expects ReTech to begin build-out of the space by April 1, which would mean that the corporation would be fully operational by summer.