Jun. 10—The Niagara County Industrial Development Agency approved several incentives for three local companies at its meeting on Wednesday.

—Niacet, had applied for a 15-year payment in lieu of taxes agreement (PILOT) and a sales tax abatement. The company is looking to implement an expansion to its production process that would utilize a more effective liquid drying technique. The estimated project cost is to $48.75 million and would add 51 jobs over three years, according to the IDA.

The chemical manufacturing company makes propionate and acetate for pharmaceutical, food, and feed industries. Propionate is used to prevent mold from growing in bread and sports drinks, and acetate is an ingredient used for cosmetics, cleaning supplies, and textiles. The company has two manufacturing sites in Niagara Falls.

—TM Montante Development is the developer for 500 and 512 Third St. in Niagara Falls and has projects planned for both properties. For 500 Third St., the Niagara Hudson Building, Montante sought a 10-year PILOT, and sales and mortgage tax abatements for a conference and event space with a dedicated outdoor space on the first floor and commercial and office space will be on the second floor. The total costs would be $2.69 million and would add eight jobs over three years. For 512 3rd St., Montante sought a 10-year PILOT, and sales and mortgage tax abatements to convert the former Imperial Garage into a brewery and restaurant. The total costs would be $693,001, and would add six jobs over three years.

—Indian Ocean, the owner of the Courtyard Marriott hotel on Buffalo Avenue in Niagara Falls sought to refinance its current debt. The amount being refinanced will not exceed $6.1 million.