Business
3:46 pm
Thu March 13, 2014

Mortgage company expanding, adding 249 jobs

A local mortgage servicing company is planning a move and expansion that will nearly double its workforce.

AMS Servicing LLC of Depew will move in to the Jamison Business Park in Elma this summer and will increase its current workforce of 270 by 249 new jobs over the next five years.

The $7.3 million move and renovation is being assisted by $219,000 in sales tax breaks from the Erie County Industrial Development Agency and qualifies for up to $1.5 million in performance-based New York State Excelsior Jobs Program tax credits.

AMS is a subsidiary of Seneca Mortgage Investments LP, based in New York City.

“We are very pleased with the incentives offered to us by Empire State Development and look forward to renovating and customizing the new space to strategically grow our business,” said Ivan Kaufman, Chairman of the Board for Seneca Mortgage Investment Trust. “We want to thank the Governor and the state and local agencies that have supported our efforts to expand in Western New York.”

Governor Andrew Cuomo's office called the AMS expansion another milestone in Western New York's comeback.

"The number one priority for New York State continues to be jobs. That is why my Administration is working to make New York more competitive and attract business and investment," said Cuomo, in a statement. "AMS Servicing's expansion is another milestone in Western New York's comeback and further proof that our economic development strategy is working."

AMS anticipates occupying the new facility this summer.