Montgomery County

Amsterdam software firm to stay put for now

Mair Magaw Information Services, a startup software company opening shop in Amsterdam, will be worki

Mair Magaw Information Services, a startup software company opening shop in Amsterdam, will be working out of Riverfront Center for the near future after a deal fell through to buy a former bank building downtown.

Last fall, the company announced that it was moving its headquarters from Albany to Amsterdam and working with the city, the Montgomery County Business Development Center and Fulton-Montgomery Community College to become a START-UP New York company.

At the time, it was pursuing the former Key Bank branch building on Water Street. The MCBDC even approved a loan of up to $325,000 for the purchase.

But that purchase never came together.

“Unfortunately, there were some complications that popped up,” said Mair Magaw President and CEO Aaron Mair. “Out of the blue, there was a bid to drive up the price and then it became cost prohibitive.”

The company received a $400,000 grant from Empire State Development last December to “acquire, redesign, repurpose an empty building in downtown Amsterdam.”

With the asking price and renovations needed, Mair said, the building would have been a bad investment of either private or public money.

For now the company will remain in its temporary headquarters at Riverfront Center, he said, in space formerly used for FMCC classes, while they explore other options in the city.

“Right now we’re in the middle of just trying to get some software developed,” Mair said. “We’re basically writing code and getting a product developed so we can get it immediately to market, so we can start pulling in new staff and start meeting targets.”

The company creates customized software for climate-related applications and disaster response, from forecasting monsoon effects to facilitating food delivery in high-needs areas of the world.

It has committed to creating 57 new full-time equivalent jobs over three years and is working with FMCC to provide student internships.

The company and college have worked together to get the Riverfront Center space designated a START-UP NY zone, where qualifying new or expanding businesses can get 10 years of tax breaks from the state.

It’s the first designated START-UP zone in the FMCC sphere.

The company’s START-UP application, which is a separate process, is still pending, Mair said.

“But that is a critical piece to us going forward,” he said “It’s essential, and it’s a huge incentive that brings us to the community. We’re ready to get going. We’re ready to create jobs.”

Reach Gazette reporter Kyle Adams at 723-0811, [email protected] or @kyleradams on Twitter.

Categories: Business, News

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