LATHAM — Philips Medical Systems will expand its Latham manufacturing facility at a cost of $13.2 million and add 94 jobs there.
Empire State Development announced the plans Thursday. ESD will provide up to $1 million in performance-based Excelsior Jobs Program tax credits for the retention of 400-plus existing employees and the creation of 94 new jobs over five years.
Philips Medical Systems MR, Inc. was founded as Intermagnetics General Corporation in 1971 and was acquired in 2006 by Philips, a Netherlands firm with 77,000 employees globally and sales and services in more than 100 countries.
It manufactures components of medical resonance systems at the plant on Old Niskayuna Road in Latham.