The Montgomery County Industrial Development Agency is recommending approval of a $315,000 loan for a leather company expected to relocate 111 jobs from Fulton County to the former White Mop Wringer facility in Fultonville.
Perrone Leather Inc. is leasing the majority of the facility, purchased by School House Companies in October 2007, and currently employs between 50 and 60 people there, Montgomery County Economic Development Director Ken Rose said Friday.
The loan would help the company purchase machinery and equipment for the new site, where they expect to add another 26 full-time positions over the next three years, Rose said.
The IDA approved the measure during a meeting Thursday, and final loan approval rests with the county’s Board of Supervisors, Rose said.
The IDA also agreed to purchase a 2.5-acre parcel of land off state Route 5S for $58,320, Rose said.
The new parcel has a double-wide mobile home on it, which Rose said the IDA is expecting to sell.
The parcel is considered important because it can serve as access to the 137-acre plot the IDA is hoping to purchase for an as-yet unnamed business considering operations there, Rose said.
Tentatively named the Florida Park Extension, the site is about a quarter mile to the west of the Target Distribution Center and encompasses land on the north and south sides of state Route 5S.
The unnamed business would not make use of the entire 137 acres, Rose said.
“We still have room,” Rose said.
With other actions by the IDA Thursday, however, little land is now available at the county’s Glen Canal View Business Park further west.
The IDA entered into an option agreement with the M.S.C. Construction Group, which is considering the construction of a 30,000-square-foot shell building on 6.65 acres of the business park.
A tentative agreement would put the land’s cost at $21,780, Rose said.
The price reflects the fact that only 4.84 acres of the land can be used for development because of wetlands, Rose said.
If the transaction is ultimately completed, all 84 acres in the park that are currently “shovel ready” will be taken up, Rose said.
“What’s great about that is that we have options on all the property in phase one,” Rose said.
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Categories: Schenectady County