Solstice Advanced Materials will invest $49 million to expand its research and development facility on Peabody Street in Buffalo, Governor Kathy Hochul announced October 9. The plan is to construct, renovate and equip the site, making it the company’s premier global R&D hub.
For anyone in the trades, “construct” and “renovate” are the words to circle.
Lab Coats, Meet Hard Hats:
12 new jobs, adding to the 180 people Solstice already employs in Buffalo
Up to $1.4 million through Empire State Development’s Excelsior Jobs Tax Credit Program, which is tied to performance
Expanded R&D in advanced materials and chemical processes
Even at the max, the state’s incentive is worth less than 3% of the project’s size.
Honeywell’s Offspring: Solstice formed in October 2025 when Honeywell Technologies spun off its specialty materials business. The company has about 4,100 employees and works with over 3,000 customers in more than 120 countries and territories.
Its materials serve industries including refrigeration, foam insulation and data center cooling. Nuclear power and semiconductor manufacturing make the list, too.
Cool History: State Sen. April Baskin noted that modern air conditioning was developed in Buffalo. Now a company with refrigeration in its portfolio is expanding in the same city.
Watch This Space: The announcement didn’t include a construction timeline. When one surfaces, Peabody Street goes from press release to job site.
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