Economic development grants worth more than $1.25 million for the Capital Region were announced Tuesday by the administration of Gov. David Paterson.
Montgomery County is getting $503,500 to assist with the expansion of Power Pallet Inc. on Route 30 in the town of Amsterdam, which manufactures and recycles wooden pallets used in transportation and storage.
In Albany County, the village of Green Island is getting $750,000 to expand the capacity of the Green Island Power Authority and provide low-cost electricity to two local companies, Arcadia Supply, Inc. and John V. Warren, Inc.
Montgomery County Economic Development Director Ken Rose said Power Pallet will get a low-interest loan, which will be paid back to the county. The company has been expanding, he said, and has contracts with Target and other large users of pallets.
Paterson’s press office said that in order to meet its new market demands and recent growth patterns, Power Pallet will expand its current operation by adding a second production line. The expansion project is supposed to result in the creation of 65 new full-time jobs, with 62 made available to low- and moderate-income persons. All positions offer employer-sponsored health care benefits, Paterson’s statement said.
The total project costs are about $3.2 million, with the company’s owners providing $2.5 million in equity and securing $200,000 in bank financing.
On Green Island, the grants are to retain two companies that Paterson’s office said had considered leaving the state because of high energy costs. The project is supposed to create 23 new full-time jobs over a three-year period with 22 made available to low- and moderate-income persons. In addition, 120 jobs will be retained and remain in New York. The total project costs are approximately $10 million, $5.4 million of which will come from private financing and equity.
Joseph Rabito, director of the state Office for Small Cities, said Arcadia Supply is a metal fabricator that has done work on Humvees for the U.S. government. John Warren, Rabito said, is a mechanical contractor.
Paterson’s office announced six grants totaling $5.5 million that are supposed to create 1,000 jobs across upstate New York. Federal Community Development Block Grants are providing $3.8 million of this amount. The Office for Small Cities administers distribution of that money. The other $1.7 million comes from state Empire State Development Corp. funds allocated in the 2007-08 state budget, said Paterson spokesman Jordan Isenstadt.
The town of Ticonderoga in Essex County will receive a $750,000 grant to help build a municipal wastewater collection system that will support a total of 22 properties, including a new Best Western Inn & Suites, eight existing businesses and 16 residences.
Best Western is investing $5.5 million in the project, which will create 19 new jobs.
Paterson’s office said that without access to municipal sewer, Ticonderoga faced the loss of many established businesses, which were faced with significant costs for sewage removal. The lack of municipal sewer has also stifled efforts to attract new development to the area. The town of Ticonderoga is also investing $38,500 into the project.
The city of Olean in Cattaraugus County has been awarded a $750,000 grant for Data Listing Services to establish a new call center, resulting in the creation of 450 new, full-time equivalent jobs over a three-year period.
The city of Lockport will receive a $266,000 Community Development Block Grant to help Niagara Produce, Inc., a retail grocery and market seeking to expand into a second location. CDBG funds will be used for machinery and equipment.
In Steuben County, the town of Erwin has been awarded a Community Development Block Grant of $750,000. The grant complements a previously announced ESDC grant of $1 million.
The funding will help the Sitel Corp. establish a new customer service call center in the former Corning Inc. building, which has been vacant for five years.
CDBG funds will be used to offset training costs for new employees.
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Categories: Schenectady County