Search
Close this search box.

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Advertisement
Advertisement

CNY, Mohawk Valley awarded funding in REDC competition; Southern Tier wins most of any region

PHOTO CAPTION: State officials on Thursday announced the funding awards for New York’s 10 regions in the annual Regional Economic Development Council awards in Albany. (Photo credit: Twitter page of New York Lt. Gov. Kathy Hochul)

State officials announced the funding awards during a ceremony held Thursday in Albany.

Central New York has consistently done well in the competition. After nine rounds, the REDC serving Central New York has received nearly $790 million for 801 projects; the Mohawk Valley has been awarded nearly $698 million for 721 projects; the Southern Tier has been allocated more than $702 million for 764 projects; the North Country has received about $682 million for 690 projects; and the Finger Lakes has been awarded $721 million for 950 projects, Cuomo’s office said.

After nine rounds of the REDC process, more than $6.9 billion has been awarded to more than 8,300 projects “consistent with each region’s strategic plans, projecting to create and retain more than 240,000 jobs,” per the news release.

(Sponsored)

Some of the projects to be funded by the REDC awards include the following.

 

Central New York

The Landmark Theatre will use $145,000 to replace the seating in the venue’s auditorium.

Cayuga Milk Ingredients, LLC will use $5 million from Empire State Development as part of an overall investment of about $89 million to install an evaporator and feed system and a UHT/Aseptic bottling line. CMI — a manufacturer of infant grade milk ingredients — will use the project to increase output 20 percent and increase sales of “high value” milk powders around the globe.

Tessy Plastics Corp. will use a $5 million award to redevelop one of its existing facilities, allowing it to expand the number and type of products it manufactures. The project will include the creation of a controlled environment clean room; improvements to building mechanicals and utilities; upgrades to exterior areas including loading docks and parking lots; and other building specific improvements “as needed,” such as warehouse space or office space.

ACCESS Global Enterprises, LLC plans to use $430,000 to renovate the property at 1081 S. Salina Street in Syracuse into a light manufacturing facility and a day care center. The project includes building renovations and the purchase and installation of production machinery and equipment.

 

Southern Tier

Upstate Farms Cheese, LLC, a subsidiary of farmer-owned Upstate Niagara Cooperative, Inc., will use $2,280,000 from Empire State Development to modernize its Campbell facility in Steuben County to increase capacity, update infrastructure, enhance quality programs, and expand sustainability initiatives.

Country Kids Childcare Center, LLC will a $400,000 funding award from Empire State Development to relocate existing operations to a newly built facility, expanding access to child-care and creating new jobs in Chemung County.

Transonic Systems will use $440,000 to transition its existing manufacturing plant in Ithaca to include automated processes, allowing the company to create jobs and meet continued demand for their medical device products.

 

Mohawk Valley

Feldmeier Equipment Inc. will receive $2,500,000 from Empire State Development to expand its existing Riverside location in Herkimer County adding 89,250 square feet of production space, which includes 5,250 square feet of high bay space. The project also includes the purchase of automated equipment.

Sovena USA will receive $950,000 from Empire State Development to expand its Rome manufacturing plant adding about 83,500 square feet of warehouse, oil storage, and shipping/receiving areas to the facility. The project will increase oil and finished goods storage capacities 20 percent and 50 percent, respectively, and allow improved production efficiencies that can support another 28 percent growth in the company’s volume sales.

Masonic Medical Research Institute will use $1.2 million for a third phase of its multi-year renovation project, adding another 5,070 square feet of space and new scientific equipment. This third phase of renovation adds to an “already committed” phase I and II, totaling 17,000 square feet of renovation, the state said.

 

North Country

SUNY Canton will use $1.3 million from Empire State Development to redevelop the “blighted” Midtown Plaza in downtown Canton into a mixed-use property. The existing buildings will be demolished and replaced by a three-story structure. The first floor will include an Entrepreneurship Center and commercial space, while the second and third floors will house residential units.  

EZ STAK will use a $1.2 million funding award to purchase and renovate a new facility in Watertown. The company will purchase a large automated sheet metal processor, warehouse racking, upgraded powder coating machine and air compressor. This move will allow EZ STAK to relocate much of their aluminum manufacturing businesses from Canada to New York.

Dual Development, LLC will use a $3 million award to demolish an outdated hotel in downtown Lake Placid and construct a new hotel in its place. The project is a new model of efficiency whereby two hotel chains share numerous common areas. The hotel will offer two products that are not currently available in the Lake Placid regional market, including a Home2 extended-stay suites and a TRU by Hilton, which is a mid-priced hotel brand that is marketed towards younger tech-savvy and design-minded travelers on a budget.

 

Contact Reinhardt at ereinhardt@cnybj.com

Post
Share
Tweet
Print
Email

Get our email updates

Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

Essential business news, thoughtful analysis and valuable insights for Central New York business leaders.

Copyright © 2023 Central New York Business Journal. All Rights Reserved.