CANTON, N.Y. — Corning, Inc. (NYSE: GLW) has plans for a more than $21 million capital-expansion project that’ll create 40 jobs at its facility in Canton in St. Lawrence County.
The firm will add more than 30,000 square feet to accommodate additional storage and an increase in production of high-fused silica glass for use in the semiconductor industry.
New York Gov. Andrew Cuomo announced the Corning expansion plans in a news release distributed today.
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At the same time, the New York Power Authority (NYPA) has allocated Corning more than 2 megawatts (MW) of power as it expands in the North Country, the governor’s office said.
Corning, a firm that focuses on specialty glass and ceramics, has plans to add more than 23,000 square feet to its Canton facility for increased production. The location supplies microchips for computers, cell phones, and other electronics.
The project also includes a 7,200-square-foot warehouse, Cuomo’s office said.
Corning is planning a formal ceremony for next month to mark the start of construction on the expansion project.
NYPA will provide Corning the low-cost hydropower under a seven-year contract and will draw the power from a block of St. Lawrence electricity known as “Preservation Power,” Cuomo’s office said.
In addition to the new permanent jobs, which Corning is already adding, the firm expects its capital investments to support dozens of temporary construction jobs.
Empire State Development (ESD) is providing the company $750,000 in Excelsior Jobs Program tax credits to assist with the job-creation project, according to Cuomo’s office.
“This allocation by NYPA will reduce Corning’s energy cost, which is a major expenditure at the Canton plant,” Patrick Jackson, director of Corning’s global-energy management, said in the governor’s news release. “In addition, ESD’s support for this project is a strong job-creation incentive.”
The power for Corning’s Canton facility is a ReCharge NY allocation that NYPA trustees approved in April 2012 in exchange for the firm’s commitment to retain its nearly 200 positions, Cuomo’s office said.
ReCharge NY is a statewide program to provide lower-cost power that is linked to more than 380,000 jobs, it added.
Under state law, allocations of power to Northern New York businesses from the St. Lawrence hydroelectric facility are for firms in Franklin, Jefferson and St. Lawrence Counties, Cuomo’s office said.
NYPA provides the electricity at a price that is currently 40 percent less than the wholesale-market price in the region.
Preservation Power allocations currently support “hundreds of jobs” in St. Lawrence County, according to the governor’s office.
Besides Corning and Canton, the firm has locations in various parts of New York, according to the governor’s office. Headquartered in Corning, the company also operates research centers in North America, Europe, and Asia and employs about 30,000 people globally, according to its website.
Contact Reinhardt at ereinhardt@cnybj.com
