Week in Review: September 19, 2022-September 23, 2022
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CEGI N THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Precision Valve & Automation founder Tony Hynes has hired a group of Amish builders to fast-track construction of an 18,000-square-foot barrel factory and warehouse, part of his strategy for converting a section of the Route 5 corridor on the western edge of Glenville into a hot spot for whiskey and spirits enthusiasts.
Hynes is investing about $3 million to reimagine the 30-acre former Riverside Maple Farms syrup production plant into a factory that will house Adirondack Barrel Cooperage, an Oneida County manufacturing business that Hynes invested in with founders Joe and Kelly Blazosky four years ago.”
“Morcon Inc. will expand its 17-acre campus in Eagle Bridge in rural Washington County, investing $14.6 million to purchase equipment and construct two new buildings as the family-owned company prepares to bring more international paper converting work back to the United States.
The Warren-Washington Industrial Development Agency approved a tax incentive package this month that will help Morcon offset a portion of the cost of the expansion. The incentive package includes a $743,750 sales tax exemption on equipment and materials, a $118,750 mortgage tax exemption and a payment-in-lieu-of-taxes agreement that will save Morcon $2,858,480 in property taxes over 10 years.”
“Active Solar Development is ready to hire 60 employees over the next three years as the company builds a new headquarters and operations center next to the Albany-Saratoga Speedway on Route 9 in Malta.
The developer, designer and builder of large solar power projects will start construction this fall of a 20,550-square-foot building on the site of an abandoned home at 2687 Route 9. The project will be managed by Bette & Cring Construction Group of Latham.”
“Peterson Geotech of Skaneateles wants to construct a satellite office and warehouse near Exit 16 of the Interstate 87 Northway in Wilton.
The Finger Lakes firm, which builds foundation pilings for New York City high rises, is seeking permission to construct an operations center in the Blue Lupine Industrial Park off Ballard Road. The company has been leasing warehouse space from developer Frank Parillo at 240 Excelsior Ave. in nearby Saratoga Springs.”