A growing Schenectady commercial printing company is among several firms statewide getting low-cost power allocations aimed at job retention and creation, the governor’s office announced Thursday.
The governor’s office announced the fifth round of allocations Thursday under the ReCharge NY program, awarding a total of 342 kilowatts of low-cost power to Benchemark Printing. The benefit is to support a $1 million capital investment by the company to create jobs.
Benchemark last summer announced an expansion of its Maxon Road Extension facility through the $550,000 purchase of adjacent land and a nearly $1 million investment in renovating a building on that land and improving its main plant.
The entire project is expected to add 12 new jobs over three years, officials said then.
The allocation to Benchemark was among a total of 20 announced statewide. A total of 19 went to businesses and one not-for-profit.
The goal of the ReCharge NY program is to support job retention and creation around the state.
“Low-cost power is an important economic development tool for businesses to reduce their overall costs and make new investments,” Gov. Andrew Cuomo said in a statement. “ReCharge NY has proven to be a major success and this fifth round of low-cost power allocations will support job growth and economic development in communities across the state.”
A press release issued Thursday did not indicate how much the businesses were expected to save. Previous rounds of allocations have included other businesses in the region.
Benchemark CEO Robert Ko-
sineski Sr. started the business in Schenectady with his sons in 1985, operating out of a three-story building on LaFayette Street. After about a decade, Benchemark moved into its 80,000-square-foot facility on Maxon Road Extension, but continues to use its former space for storage.
The renovation and improvements to the main building were expected to be completed by November, officials said in the announcement last summer.
Benchemark employed 93 workers as of last summer at its existing facility, 20 of whom worked for its affiliated business — American Hospital Patient Guide, Inc. Both were to expand with the new acquisition, with the Guide moving its staff into the new facility.
The 12 additional full-time staff that are to be hired over the three-year period are a result of both companies’ growth. Jobs will include graphic designers, sales people and telemarketers.
The Schenectady County Metroplex Development Authority announced Wednesday that it will provide a $150,000 grant to help with land acquisition and renovation.