A 116-year-old printing company will stay in Upstate New York and plans to create jobs after being offered $3.25 million in performance-based incentives from the state.
Amsterdam Printing and Litho, with facilities in Amsterdam and Queensbury, plans to create 39 new jobs while keeping its current base of 469 workers, Empire State Development announced Thursday in a news release.
“The state has offered a partnership that will build upon a 115-year tradition in the Mohawk Valley, allowing us to grow and thrive in an ever-changing and improving business climate,” Tim Broadhead, company president, said in the release.
“We are excited about our future and the future of New York state.”
State officials worked with company executives to keep Amsterdam Printing from leaving the state after its Minnesota-based parent company, Taylor Corp., began evaluating locations, the release said.
“Amsterdam Printing has helped grow the local economy for more than a century, and when its parent company began evaluating where to invest for the future, we made a strong case to company officials and showed them why Upstate New York is a great place to continue to do business,” Howard Zemsky, acting president, CEO and commissioner of the state’s economic development arm, said in the release.
The incentives consist of a $2.5 million capital grant tied to the retention of 469 jobs over eight years and $750,000 in Excelsior Jobs Program Tax Credits linked to the creation of 39 new jobs. The New York Power Authority also awarded the company 246 kilowatts of low-cost power over seven years through the ReCharge NY Program, and New York State Homes and Community Renewal provided a $900,000 grant.
“Successful economic development projects, such as the retention and expansion of Amsterdam Printing, emanate directly from deep collaboration with private and public-sector partners and an intense commitment to our existing businesses in Montgomery County,” Montgomery County Executive Matthew Ossenfort said in the release.
The Mohawk Valley Regional Economic Development Council has been a strong supporter of the effort to keep and grow jobs at Amsterdam Printing, a critical employer for the Amsterdam area and the entire region, the release said. The company competes with other national and international businesses, particularly in China, and has relied on a loyal workforce, with many employees being second- or third-generation workers.
Founded by Abraham Singer in 1898, Amsterdam Printing has grown into one of the 20 largest promotional product companies in the United States. The company provides businesses with products to promote their brands such as personalized pens and pocket and desk calendars.